Final answer:
Leadership is the management function that involves conducting, guiding, influencing, and motivating employees, which can embody different styles including Theory X and Theory Y, as well as transactional and transformational leadership.
Step-by-step explanation:
Conducting, guiding, influencing, and motivating employees is part of the management function of leadership. This function can manifest in various styles such as Theory X and Theory Y, as conceptualized by Douglas McGregor. Theory X managers believe that employees inherently dislike work and need to be strictly controlled and motivated through a system of rewards and punishments. In contrast, Theory Y managers assume that employees are self-motivated and will work towards organizational goals if they are provided with the right conditions. Moreover, leadership styles can be differentiated between transactional leadership, which focuses on supervision and adherence to organizational goals through rewards and punishments, and transformational leadership, which inspires employees through charisma, inspiration, intellectual stimulation, and individualized consideration.
Effective leadership, whether instrumental in nature, focusing on task completion, or expressive, concerned with the emotional well-being of employees, is crucial for navigating the manager-employee relationship. Modern trends in leadership emphasize a more equal partnership, recognizing the value contributions from both managers and employees to achieve broader organizational goals.