Explanation:

The Managerial Grid model was developed by R.R. Blake and J. Mouton. This model is a behavioral leadership model that helps managers assess their leadership style based on their concern for people and concern for production. The model is represented by a grid with two axes - concern for people and concern for production.

The two axes of the Managerial Grid model are:
1. Concern for people: This refers to a manager's focus on the well-being, satisfaction, and development of their employees. Managers who have a high concern for people prioritize building relationships, supporting their team members, and creating a positive work environment.

2. Concern for production: This refers to a manager's focus on achieving goals, meeting targets, and ensuring productivity. Managers who have a high concern for production prioritize task completion, efficiency, and meeting deadlines.

The five leadership styles identified in the Managerial Grid model are:

1. Country Club Management (1,9): Managers with this style have a high concern for people but a low concern for production. They prioritize creating a harmonious work environment and building positive relationships with their employees. However, they may neglect task completion and fail to push their team towards achieving goals.

2. Team Management (9,9): Managers with this style have a high concern for both people and production. They aim to create a supportive work environment while also focusing on achieving goals. This style is considered to be the most effective as it balances the needs of both employees and the organization.

3. Middle-of-the-Road Management (5,5): Managers with this style have a moderate concern for both people and production. They try to strike a balance between task completion and employee satisfaction. However, this style may not be as effective as the Team Management style.

4. Impoverished Management (1,1): Managers with this style have a low concern for both people and production. They typically avoid getting involved in conflicts or making decisions. This style can result in a lack of direction and poor performance.

5. Authority-Compliance Management (9,1): Managers with this style have a high concern for production but a low concern for people. They prioritize achieving goals and meeting targets, often at the expense of employee satisfaction. This style can lead to a negative work environment and low employee morale.

The Managerial Grid model helps managers understand their leadership style and its impact on their team's performance. By assessing their concern for people and production, managers can identify areas for improvement and develop a more effective leadership approach.