Depends on the situation.
When I'm dealing with people who I view as equals, or close to it, I'll work to gain respect in a "general sense", wherein they respect me and I respect them.

On the other hand, when I'm interacting with large groups of people as an authority figure and those individuals don't necessarily view me as someone that needs to be paid attention to (i.e., the Market), I'll swing more towards the "fist of justice" methodology. Though I suppose it should be noted that those methods can also result in general respect, depending on how people respond.

It's really quite subjective.