Final answer:
The third step in developing a management strategy is Leading, which focuses on directing and motivating team members to meet organizational goals, and implies a transition from planning and organizing to the active management and influence of employees.
Step-by-step explanation:
The third step in developing a management strategy is Leading. After the planning and organizing stages, leading involves motivating and managing employees to direct their efforts towards achieving organizational goals. This step requires effective communication, inspiration, and ensuring that team members understand their roles and responsibilities. A leader also plays a critical role in influencing the organizational culture and navigating the team through change.
Contrary to a Theory X approach to management, where employees are viewed as inherently lazy and needing constant supervision, a leader following contemporary management strategies focuses on empowerment and encouraging employees to take ownership of their work, which aligns more with Theory Y. This involves a collaborative approach where input and creativity are valued and where employees are viewed as capable of self-motivation and self-management.