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Leadership has been described as the process of social influence a group of individuals to achieve a common goals. Leadership is ultimately about creating a way for people to contribute to making something uncommon happen.
A leader is a person who guides others toward a common goal, showing the way by example, and creating an environment in which other team members feel actively involved in the entire process. A leader is not the boss of the team but on the contrary, that is dedicated to those who carried out the pioneering mission. A leader who is organized helps motivate team members to be organized as well. A leader should not do all the work. Doing everything yourself is a poor use of time and prevents your Venture from growing. Instead, a leader should work with his or her teammates and learn how to delegate responsibility while being mindful of everyone's interests, goals, and strengths. Although an important part of being a leader involves listening to the people around you, remember that you are not always going to be able to reach a compromise. When this happens, don't be afraid to make the final decision, even if some team members disagree with you.
The traits theory is concerned with seeking out the traits. It is the qualities and characteristics of a person that leaders were thought to be born with. This theory does not take into account the followers, only concentrates the leaders' characteristics.
Contingency theory is a class of behavioral theory that claims that there is no best way to organize a corporation, to lead a company, or to make decisions. Instead, the optimal course of action is contingent (dependent) upon the internal and external situation. Several contingency approaches were developed concurrently in the late 1960s. This theory depending on the type of relationship that are relax relationship and strained relationship. Relax relationship is appoint an easy be going leader and strained relationship is appoint a firm style leader.
Besides that, a manager is a person tasked with overseeing one or more employees or departments to ensure these employees or departments carry out assigned duties as required. Depending on the size of the company there might be a single, forming a pair or triple management layer involved.
When such in the case, they may create business plans to increase profitability. Some business managers main keep watch over supervisors and don't have quite as much contact with employees that produce the majority of products or sell things.
A manager is usually promoted from within, so he or she may already be quite familiar with the kitchen, hygiene or customer service departments. Sometimes a restaurant manager will be hired from outside because of his or her administration or accounting skills, but most of the time a restaurant's owner will promote promising employees out of the trenches and into supervisory positions.
The managers did revealed the percentage of time spent on four main roles. The first main role is traditional management (32%) that is about planning, controlling and making the decision. Second main role is communication skills (29%) that are exchanging the information, verbally and on paper. Third main role is human resource management (20%) that are talking about disciplining, motivation, general staffing difficulties, training and staff development. Fourth main role is networking (19%) this is socialize.
Leaders and managers can be compared. A leader is one who influences the behavior and work of others in group efforts towards success of specified goals in a given situation. On the other hand, manager can be a true manager only if he has got leadership traits in him. A manager carry out management functions for all five and manager is very essential a problem. It is more stable and all managers are leaders. Manager is accountable for self and the behavior of subordinates and performance. While a leader influences people to work willingly for group objectives. A leader is required to create intimate relation between staff and for organization and leadership is temporary. Leaders have no clear defined accountability.
Both a manager and a leader are necessary and important. Here indicates key words that further make the distinction between the two functions. The manager administers; the leader innovates. The manager is copy; the leader is an original. The manager maintains; the leader develops. The manager accepts reality; the leader investigates it. The manager focuses on systems and structure; the leader focuses on people. The manager relies on control; the leader inspires trust. The manager has a short-range view; the leader has a long-range perspective. The manager ask how and when; the leader asks what and why. The manager has his or her eye always on the bottom line; the leader has his or eye on the horizon. The manager imitates; the leader originates. The manager is the classic good soldier; the leader is his or her own person.
Cost leadership strategy is organization competes on price, rather than, quality or advance features. Economies of scale are needed with this strategy and organizations opting for this need to ensure they are efficient and keep their operating costs at a minimum and a low cost strategy does not guarantee a competitive advantage; customers also have to regards the products and services as representing value for money.
What is mass market? The mass market is a general business term describing the largest group of consumers for a specified industry product. The mass market is the group of consumers who occupy the overwhelming mass of a bell curve for common household products, i.e. they could be tagged as being "average". Yet, this group consists of such a wide variety of people, their desires towards a certain product may be totally different from each other. Often competition to supply the large market is fierce, but relatively easy to enter because of the mass amount of Consumer Park available.
For example, Tesco vs. Jusco. Tesco
Focus strategy is an organization targets narrow segments of the market. This can be consumer group or geography. For example, consumer groups are teenagers, gamers, the retired, fitness fans, drubbers, professionals, extremely wealthy, business people, homosexual and more. One can have a cost leadership focus or a differentiation focus.
In cost focus a firm seeks a cost advantage in its target segment. The variants of the focus strategy rest on differences between a focuser's target segment and other segments in the industry. The target segments must either have buyers with unusual needs or else the production and delivery system that best serves the target segment must differ from that of other industry segments. Cost focus exploits differences in cost behavior in some segments.
What is niche market? A niche market is the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact. Every single product that is on sale can be defined by its niche market.