Managing vs. Leading: Does It Matter?

Many Leadership writers have tackled the topic of Management vs. Leadership. Most, though certainly not all, see them as two distinct disciplines. A CEO I sat with recently told me that while they are different, he believes that successful executives develop strong capabilities in both areas.  I suppose he's right to a certain extent, but it seems to me that I see a far greater void in skilled LEADERS than I do in functional MANAGERS.  Let me explain.