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Leadership Roles: Management vs Strategy

Management

Handles day-to-day operations
Stewardship of individual functions and training
Improves operational efficiency 
Reinforces existing plans and policies 
Recommends new processes and procedures or improves upon existing ones
Servicing clients and generating new ones

Strategy

Providing leadership and discipline 
Defining and Communicating the brand’s unique position 
Clear communication to the team and staff on the brand’s direction and relevancy 
New markets and technologies to adopt and avoid
Competition analysis and developing new approaches, products or marketing 
Seeks new ways to reinforce and broaden the brand’s position

Strategy
When you hear the term "strategy," you might think of a plan addressing a question like this: How can the business achieve a certain level of profits this year? A strategy is not a plan, nor is it a way of aligning resources toward specific goals. A major difference between a strategy and a plan is that a business needs just one strategy, a single, targeted combination of business operations that will produce a profit. The strategy may not always be effective during ebbs and flows in the business cycle, but it defines a business.

Strategic Management
A business can have a strategic plan with clear goals to guide business operations over a period of one to 10 years. The company leadership can align budget dollars toward a body of strategic goals. Strategic management is how leaders implement the business' strategy and the current strategic plan. Leaders must monitor employees, teams and other organizational units for achievement of specific targets along the way. They must direct employee activities and expenditures according to the plan.

Creating a Clear Strategy
Employees also benefit from the strategic mind-set of a small-business owner. A business strategy should clearly explain to employees what roles they play in reaching company goals. Some strategic plans are short term, outlining how your company will achieve an end goal in a few months' time. Other plans, such as your strategic plan, explain how your company will realize long-term goals over five or 10 years.

Being Proactive
If you're planning ahead and addressing present business conditions simultaneously, you can choose appropriate actions when the economy shows early signs of trouble. Plan for how your business will succeed in tougher times. If consumer demand is decreasing or supply costs are rising, you can begin cutting costs in your overhead budget, ensuring that your overhead will not cripple you when the market declines. Without a deliberate strategy, your business decisions will be reactive instead of proactive.