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Economic Final Project

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Management and Leadership It takes strong management and leadership skills to guide an organization to success. Management and leadership are two different concepts. "Management is the process of working with people and resources to accomplish organizational goals," (Bateman & Snell, 2004). Leading is the management function that involves the manager's efforts to stimulate high performance by employees (Bateman & Snell, 2004). I believe that management is a job description and leadership is a trait. Management is creative problem solving. This creative problem solving is accomplished through the four functions of management: planning, organizing, leading and controlling. These functions help plan, organize, lead and control the resources that an organization has. When a management team uses the planning functions they are laying down the goals and the direction that they need to take to achieve those goals. It is during the planning function, that rules and procedures are implemented for the workforce to adhere too. ...read more.


To be a good leader one must be able to show an understanding of his or her subordinates and not view them just as a resource. Through this understanding a leader can find out what it takes to motivate the workforce to get them to work towards their goals. Leaders are a key element to a successful organization. We know it is through their leadership abilities that a workforce gets the job done but he or she also has another responsibly and that is to create and maintain a healthy organizational culture. An organizational culture is "the attitudes, values, beliefs, norms and customs of an organization," (Wikipedia, 2005). The culture can be viewed as the organizations personality. It is up to the leaders within each company to form the culture around the workforce. Once the culture has been created it is up to the leaders to maintain that culture. One way that leaders can do this is by defining a set of rules. ...read more.


Leaders should inform all employees if there is a change to occur in advance. This allows employees to prepare and adapt. Leaders should explain the change and reasons behind the change. In the mortgage industry, our rates are always changing. It helps when our leaders explain to us the market and the reasons for the changes. Then it is easier for us the relay this information to the brokers we do business with. As we look back we can see how management and leadership are two different concepts. Management is the conception of the goals, duties, and the administration of the company. Leadership, on the other hand is the ability to take a workforce and lead them towards the goals that management has set. It is also up to the leaders to create and maintain a healthy organizational culture so that the workforce can help the company maintain its own identity. It is up to management to make sure that the plans and processes are in place, and it is up to the leaders that have the leadership abilities to act on those plans and use those processes. ...read more.

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