This report delves into the intricate relationship between leadership and management within the context of Waitrose, a prominent retail supermarket chain in the UK. It defines and compares the distinct roles and characteristics of leaders and managers, highlighting their differences and complementary nature. The report examines how these roles apply in various situational contexts, including stable, fast-changing, and slow-to-medium change scenarios. It explores key leadership theories and models, such as situational leadership, systems leadership, and contingency theory, and analyzes their application within Waitrose. The report further investigates the key approaches to operations management, including Total Quality Management (TQM) and Continuous Improvement (Kaizen), and elucidates the roles of leaders and managers in these functional areas. It emphasizes the importance and value of operations management in achieving Waitrose's business objectives, such as increasing sales, maximizing profits, ensuring customer satisfaction, and achieving consistent growth. Finally, the report assesses the factors within the business environment that impact operational management and decision-making by leaders and managers, including corporate social responsibility, stakeholders, sustainability, and intrapreneurship.