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The Benefits and Drawbacks of Leadership and Management Development

Leadership and management development encompasses a wide range of formal and informal activities that assist managers in improving their skills and benefiting their organizations and employees. Effective management is now widely recognized as critical to business success and national economic well-being. Yet, despite this, only 40% of organizations have formal initiatives to develop their employees. Although both managers and leaders perform critical functions, there are significant differences between the two. A leader is likelier to be influential and inspire others, whereas a manager is more concerned with results and process adherence. Leaders use intuition to guide their decisions, whereas managers use logic to put them into action. Leaders and managers must exhibit integrity, honesty, vision, and efficiency. Despite the advantages of leadership and management development, there are risks associated with their implementation. The effectiveness of various approaches has been studi