Boaz Tamir nails it again. He has written a piece about the Israeli pharmaceutical company Teva, but it applies to so many others. An excerpt:
Many people make the mistake of thinking that "management" and "leadership" are synonymous. But the practical implications of that mistake can lead to organizational pathology. The story of the rise and fall of Teva is about a Jerusalem pharmaceutical company that became an innovative global multi-national that developed original pharmaceuticals but is now facing a financial crisis that threatens its very existence. It is the story of a company that lost the balance between management and leadership: Teva is the flagship of Israeli industries, but, like most organizations, it suffers from over-managed and under-lead, and this root problem is casting a pall over the future of this giant company.