An approach to management that emphasizes the achievement of goals, reinforcement and enforcement of regulations and reward for success. This type of leadership is built upon exchange. Leaders give rewards to their employees for reaching the goals that they have set. Employees must adhere to established procedures in order to meet their targets. Employees are limited in their ability to critically think and prevent them from using innovative solutions or finding new ways of doing things. This is another barrier to innovation. Leaders must ensure that their employees comply with job requirements. Transactional leaders must recognize the achievements of their followers. Rewarding them should encourage them to work harder to achieve higher standards. For projects and sections with strict requirements, this leadership style is ideal. Transactional leadership refers to the sharing of information between leader/follower. The leader sets objectives and assigns tasks. The leader rewards them when they achieve the goals and keep the cycle going.
On the other hand, transformational leadership is a visionary management style and strives to empower employees to achieve more in their responsibilities to create change and success for the organization in the long run (Andriani, Kesumawati & Kristiawan, 2018). Because it encourages and motivates employees, this type of leadership can be very important. The leadership strategy transcends the interaction between the leader and the follower. It does not reward or punish employees for meeting their standards. This style of leadership is focused on long-term company success. This leadership style is focused more on the long-term business success. Employees feel motivated and inspired to not only achieve the set goals, but also exceed them. In this way they create greater revenue and value. You don’t have to conform to a prescribed process, but they can be innovative. These people are more inclined to suggest or implement new ideas in their job, which can be disruptive and promote innovation. Transformational leadership encourages employees to think differently and challenge established norms.
At most, four distinctions can be made between leaders and managers.
For any business to succeed, leadership and management is crucial. These leaders must be trustworthy and honest, communicate well and see beyond the immediate environment. They share some commonalities, but there are also differences. First, leaders have influenced their followers to strive and attain set goals (Matira & Awolusi, 2020). It is the responsibility of managers to ensure that their employees adhere to established procedures. It is about creating change. Managers focus more on meeting goals, while leaders use transformative leadership. Transactional leadership rewards those who achieve success. Leaders also pay attention to the success of those they lead. Leaders attempt to convince followers to support a cause. Managers focus on processes and how to attain goals. Leaders try to persuade followers. Leaders want to inspire growth and motivate followers, while managers strive for outcomes and the desire to reach set goals.
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