ABSTRACT
This chapter outlines how management is distinct from leadership, but why it is equally important. The most effective leadership approach may not be the one that suits the executive's personality and style; instead, it is often the one that best suits the firm's needs and objectives. There are various levels of leadership for different levels and activities of the firm, and for different stages in an executive's career. A senior leadership team is responsible for making good decisions on behalf of the firm in allocating finite resources whilst dealing with the unpredictability of the business environment and time limits. Employees are evaluated and rewarded by peers instead of a manager, with a focus on keeping a small-firm and entrepreneurial culture. Zappos' employees belong to voluntary business groups called 'circles' and each circle has a 'lead link' similar to a project manager, who has limited authority and is subject to the circle's governance process.
