This document explores the different roles and characteristics of a leader and a manager in the context of management and operations. It discusses the functions of a manager and the role of a leader in different situational contexts. It also covers various theories and models of leadership, including system, contingency, and situational leadership. Additionally, it explores the key approaches to operations management and the importance of operations management in achieving business objectives. Lastly, it discusses the business environment factors that impact operational management and decision making by managers and leaders.