Are the Differences Between Management and Leadership Essay Example for Free

Are the Differences Between Management and Leadership Essay What are the Differences Between Management and Leadership? † Management and leadership are closely related but is not the same thing. They are both necessary and complementary to each other. In the corporate world, there are vastly different jobs that require different skills. There are similarities with the two and you can hardly become a great manager without good leadership capabilities. Being a manger does not always mean that the person has the natural ability to lead. And being a good leader does not always make for the best manager. Leaders can be found in all departments of the workplace. A person can be called a leader if he can successfully influence and encourage colleagues to work toward and objective in which the goal is beneficial to the group. The leader’s job is basically to inspire and motivate. Leadership is an ability that is difficult for some people to learn. However, they may not be able to handle difficult business related issues that a manager might have to handle. A manager is considered a leader by definition of the position. Employees are required to follow this individual as required in their job descriptions. Managers offer stability and confidence in organization. Managers are good at delegating tasks and achieving results, but may not be the first person employees look to for guidance. Management may be described as doing things right, while leadership is doing the right thing. Managers have subordinates, while leaders have followers. Employees may not feel a sense of loyalty to a manager, but will stick with the leader because they have a greater sense of belief in them. Managers who don’t have true leadership skills lack certain qualities that are attractive to followers, such as charisma. Being able to blend the styles of a leader and a manager represents a distinguished skills set. That’s why people with the ability to be leaders and mangers are found at the top of all successful companies. The most successful businesses and teams have strong leaders who know how to motivate employees and managers to the results needed to achieve success. I personally think businesses should carefully review applicants for management positions to make sure they have the abilities to lead as well as manage. If the applicant does not possess all of the qualities needed to be a great manager then perhaps they are not the right person for the job. I would not want a manager who you could not depend on in times of crisis and conflict. http://guides. wsj. com/management/developing-a-leadership-style/what -is-the-difference-between-management-and-leadership. Are the Differences Between Management and Leadership. (2018, Oct 31).

Hospitality Business Development Essay Example | Topics and Well Written Essays - 1500 words

Hospitality Business Development - Essay Example This paper illustrates that since the mid-1960s, Swire Group was running chains of hotels that offered its excellent services. The hotel offers quality services to its large clientele by serving healthy cuisine, offering lodging and conference facilities, as well as an offering outside catering services. In 2013, the total annual revenue for its classical services was in the excess of 1 billion US dollars for their Taiwan, Hong Kong, USA and China branches in. Swire Group is also involved in the logistics and cold storage and is renowned for having the largest refrigerated warehouse in Hong Kong. In both empirical and conceptual studies that involve business strategy, the repercussion of the business environment  is  a critical contingency factor at the hotel. The performance of any environment is pegged on its strategic position. In strategic management literature, one major concern is the manner in which organizations adapt to the strategic environment. This depicts the way in which companies attempt to fit properly within the business environment where they can operate amidst changes that happen in the corporate strategy. According to Wagen and Goonetilleke, strategic business environment leads to strategic analysis. A strategic analysis looks into the industry deeply as well as the organization’s operations that enable the management make successive decisions. Analysis of an organization should take place when carrying out a strategy to acknowledge the factors that influence the profitability of an organization. Analysis can either be external or internal.Additionally, internal and external analysis can be categorized into micro-environmental and macro-environmental.  

Produce a table of four profitability ratios, four efficiency ratios Assignment

Produce a table of four profitability ratios, four efficiency ratios and two liquidity ratios for each enterprise below. Written Report - Assignment Example Daley has a current ratio of 1.3: 1 which is lower than Macey’s despite having both, more current assets and liabilities. It is however, still enough to meet its short term obligations. Both companies have a good liquidity position, which prevents them from having to sell off their inventory in order to pay their short term debts. Without liquidating their inventories, both companies can easily manage their short term obligations through their most liquid current assets. Daley has a better inventory turnover ratio which indicates that it takes less time to sell off its finished products. With less cash tied up in inventory and considerably lower cost of goods sold, Daley takes approximately 10 days less than Macey to convert its goods into sales. Customers of Daley are taking twice as long to repay the company which means that the receivable collection is not timely. Compared to Macey, Daley has a lot tied up in the form of receivables, more than 1.5 times as much as Macey. Its sales are also approximately $300 million less than Macey’s. Macey’s receivable collection seems to be within their average length of time taken to recover cash. These figures indicate that both the firms deal in some sort of fast moving consumer goods to able to recover cash within 2-3 days. Daley’s utilization of fixed assets is better than Macey’s with a ratio of 8.9 times. For every $1 invested in fixed assets, Daley is making $8.9 in sales. On the other hand, Macey is making only $5.5 in sales for every $1 invested in fixed assets. Macey has higher sales than Daley but it also has approximately twice the amount of fixed assets. This signifies that Macey has too much invested in fixed assets. Daley, despite having higher current assets and lower sales than Macey’s, has a better total asset turnover. Macey’s investment in fixed asset seems to be unnecessary and is affecting its ability to generate sufficient sales with regards to the amount of fixed assets