Financehome Over and over again stories are to be heard of executives in lower echelons who, announcing to their seniors that they have decided to go elsewhere, are then suddenly appreciated and cajoled to remain with promises of more money and status. This is poverty of leadership. There should be ceaseless review, at all levels, of the human material at management's disposal and the review can only be effectively made by those with leadership flair with what the opening chapter called the 'inner eye'. Such attention to 'talent spotting' is not a form of favouritism. It does not presuppose that good business leaders will indulge in capricious selection. It does, however, suggest that, while in every working community there will be a vast proportion who want to be told what to do and be left to get on with it, it is the minority that needs succour and encouragement those who want to put more into their jobs and get more out of them. к Neat management can look after ninetynine per cent of the problem but leadership makes sure that the remaining one per cent, which may be crucial, is not moulded into the routine pattern. A wellled business fully understands how to use and deploy management techniques. It is in the process of 'full understanding' that leadership emerges. Management or Leadership or Both ? 47 It is important not to get leadership out of proportion. Leadership alone is not enough. In the conditions of industry, trade, and finance leadership derives tremendously from the backing of really efficient management it is, indeed, sustained by it. That most controversial of figures. Lord Montgomery, would not deny that his desert success was a striking blend of leadership and management; he savr most clearly that all the inspiration in the world would not beat Rommel if it were not supported by the cold facts of efficient management at every level below him, extending to the fighting soldier himself. The world is, however, full of leaders in a vacuum : men and women of great flair and enthusiasm who, lacking the ability or the resources to translate their leadership into action, become embittered and defeatist. Fine words on this subject of leadership, which of its very nature must be somewhat speculative, come from another soldier. Lord Slim, who, when lecturing not many years ago in Australia to the Australian Institute of Management, said: There is a difference between leadership and management. The leader and the men who follow him represent one of the oldest, most natural and most effective of all human relationships. The manager and those he manages are a later product, with neither so romantic nor so inspiring a history. Leadership is of the spirit, compounded of personality and vision; its practice is an art. Management is of the mind, more a matter of accurate calculation, of statistics, of methods, timetables and routine; its practice is a scieiice. Managers are necessary; leaders are essential. to buy a house