Business management and operations can be defined as evaluating, monitoring and streamlining a business organisation or an organizational procedure in order to increase the production and delivery of products or services. It includes planning and implementation of strategies to reach the goals and objectives of an organization. It can be referred to as a specialization or branch within the business sector. The field of business is vast. It constitutes management and operations and business administration. While each category is similar to the other, they have some key differences in between them. People engaged in the field of business operations work in a number of settings. The role of managers and leaders of the operations are vast and complex.
The central role of leaders is to lead the employees of an organization to achieve the organizational objectives. Leaders execute this task by guiding and convincing the employees by several means. A leader motivates employees, sets clear objectives for the organization and guides employees to work towards the progress of the organization. On the other hand, managers are there to provide specialization and delegation. An organization cannot run without proper discipline and the job of the manager is to contribute to the discipline of an organization. He is the one responsible for all the happenings in the firm and is directly answerable to the management.
A leader motivates his followers to achieve a specified objective. They have a clear vision about the goals of the organization and therefore indicates the vision to his followers. They guide them to formulate strategies to achieve the objectives and possess good vision along with several traits like innovating, creating teams, developing coordination among stakeholders etc. Every level of organization demands a leader who can act as a representative of the organization. They maintain harmony among the whole team and motivates them to work together and achieve success.
The functions of a manager include planning, direction, organization, control and coordination. They have every right to hire and fire the employees and make sure that the work gets done in an efficient way. Managers are usually of various types in an organization ranging from top level managers, project managers, functional managers to general managers. The role of managers generally varies on the expertise of the work. For instance, the job of top-level managers is to look after the vision and objectives of the organizations, the responsibility of the functional managers includes different areas of work like sales, marketing and accounting.
In an organization, the five main functions of planning, leading, organizing, controlling and coordinating are performed by the managers. To say that a manager is a leader, it won’t be wrong although this is not the case for all managers. Only those managers can be described as leaders who perform the duties of a leader such as motivating, encouraging and inspiring. The title of a leader is not attached to management position but a leader can be anyone who has the quality to motivate and inspire others. On the other hand, any person holding a management position can be described as a manager.
Situational theory applies the various leadership styles adopted by leaders according to the situation and development level of their team members. It is a unique and effective way to promote leadership because it moulds itself according to the needs and competencies of the team. According to surveys it sets a balance for the entire organization.
The best functioning managers and leaders are presented with a lanyard with ID holders as a gift and reward for their outstanding performance.