Good public sector managers need to be both good managers and good leaders. But what approach to leadership should the public finance manager take? The role of a financial manager cannot be solely the command of the finances; it also needs to include the ability to help the organization achieve its goals. In most governmental organizations, the acceptable leadership approaches have moved away from power-oriented autocratic styles to ones characterized by participatory environments. This shift has occurred within the context of the changing nature of the workforce in recent decades. The increased educational and economic levels of today’s workforce have made participatory styles of leadership the preferred models for organizational success, although the definition of the best leadership style ultimately depends upon the situation.

Leadership and management are often seen as independent concepts. In reality though, these are distinct yet complementary traits. There is no need for the two to be isolated at any level. However, both these activities do have their own distinctive features which separate them as well. In order to be successful in today’s highly competitive and volatile environment, a manager needs leadership qualities and vice-versa.

It is observed though, a larger number of organizations across the world suffer from a lack of good leadership. Good leadership is not necessarily present at the top-most level. There is requirement of good leadership even at intermediary levels. A good leader can become a great manager if his/her management skills are good. This is because, apart from handling the systems and processes that the manager is supposed to manage, he/she is also capable of leading people. When people are lead well their performance increases. This is a win-win scenario for the manager, the team and the organization because of overall growth and increased productivity.

Leadership and strategy management teams at various companies can actually develop leadership development program for managers to create managers who can lead. Some serious thought leadership needs to be invested in this to create asset pools for the future. The complementary strengths of management and leadership include processes and people, facts and feelings, intellect and emotion, position and persuasion, problem solving and problem thinking, doing things right and doing the right things and many others. It is possible to  create these complementary skills in people through programs and training.www.iibmindia.in

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