This report discusses the definition of managers and leaders and compares their roles and characteristics in an organization. It also explores the implementation of various functions of managers and the roles of leaders in different situations. The report further examines theories and models of approaches, such as situational leadership, systems leadership, and contingency theory. Additionally, it explains the key approaches to operations management and the role that leaders and managers play. Lastly, it highlights the importance and value of operations management in achieving business objectives and assesses the factors within the business environment that impact operational management and decision-making by leaders and managers.