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ACCA F1 > Area D > Flashcards

Area D Flashcards

1
Q

Management definitions:

A
  1. Mary parker follet - Art of getting things done
  2. Koontz - Process of des and maintaining an env in which individuals working together in grps accomplish
  3. Drucker: Multi-purpose organ that manages biz , managers, workers
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2
Q

Difference between authority and power

A

Authority is the right to do something
Power is the ability to do something.

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3
Q

Types of power:

A
  1. Reward: due to his ability to provide rewards
  2. Coercive: due to ability to punish
  3. Expert: due to ability to exercise his specialised knowledge
  4. Referent : skills and personal traits other may wish to copy
  5. Legitimate: Due to his authority derived through his designations
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4
Q

Classical Theory - Henri Fayol

A
  1. Planning
  2. Organising
  3. Commanding
  4. Coordinating
  5. Controlling
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5
Q

Classical - Taylor (Scientific management)

A

Scientific approach
Setting standards

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6
Q

Classical - Elton Mayo (Human Relations School)

A

Wages aren’t the highest motivators
Relationships, attitudes mattered
Interpersonal roles and factors are key factors

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7
Q

Modern - Drucker

A

Setting objectives
Organizing resources
Motivating employees and communicating plans
Establishing benchmarks
Developing people

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8
Q

Modern - Mintzberg’s Managerial Roles

A

Informational -> Monitor, Disseminator, Spokesperson
Interpersonal -> Figurehead, Leader, Liaison
Decisional -> Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator

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9
Q

Leadership - Trait theories

A

Leaders are born rather than made
Certain physical, personality traits help a manager perform well

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10
Q

Leadership - Style theories

A

(a) Blake & Mouton’s grid:

  1. Management Impoverished [1,1] - Least effort and concern for people and getting the task done.
  2. Country Club [1,9] - Has concerns for people, comfortable environment; less work gets done.
  3. Task Management [9,1] - Increasing prodn efficiency and quantity at the cost of labor wellbeing.
  4. Middle of the road [5,5] - people and work on average.
  5. Team [9,9] - optimally manage people and prodn; best form theoretically
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11
Q

Ashridge Management college

A
  1. Tells (Autocratic) - Manager: sole decision maker; no suggestions from employees.
  2. Sells (Persuasive) - manager : sole dec maker; explains employees the rationale behind his dec
  3. Consult (Participative) - Manager : ask for opinions; but dec power lies with man
  4. Joins (Democratic) - includes employees in dec making; arrive at consensus.
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12
Q

When to use Ashridge’s research?

A
  1. Crisis or fast decision making : Tells
  2. Normal Conditions : Consults & joins
  3. Unskilled and demotivated workers : Tells and sells
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13
Q

Contingency theories: (Situational approach)

A

No one universally applicable set of principles
Org differ
Every situation is different
Managers must decide acc to the situation.

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14
Q

Adair - Action Centered Leadership

A

Leader has to balance 3 interrelated needs and goals
Task needs, group needs, and individual needs

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15
Q

Fiedler - Contingency theory:

A

PDMs (Psychologically Distant Managers)
PCMs (Psychologically Close Managers)

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16
Q

Bennis - Transformational Leadership

A

Two types:
1. Transactional leadership - demand loyalty and efficiency in return reward them with salary hikes, bonuses.
2. Transformational: Stimulates, inspires; proactive; focuses on the need for growth

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17
Q

Kotter - Managing Change

A

Ways to deal with resistance and conflicts:
1. Participation and involvement: employees a part of decision making; practical involvement
2. Education and communication: informing employees through AVRs
3. Facilitation and support : giving training & counselling
4. Manipulation : selective disposition.
5. Negotiation

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18
Q

Kotter - Managing Change

A

Ways to deal with resistance and conflicts:
1. Participation and involvement: employees a part of decision making; practical involvement
2. Education and communication: informing employees through AVRs
3. Facilitation and support : giving training & counselling

  1. Manipulation : selective disposition.
  2. Negotiation
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19
Q

Heifetz - Leadership to motivate

A

the central role of managers is to aid their subordinates in facing reality and empowering them to make changes where they deem necessary

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20
Q

Person Specifications - Selection Process

A

SCIPDAG
Special attributes
Circumstances
Interest
Physical makeup
Disposition
Attainments
General Intelligence

21
Q

Traits of team

A

Share a common goal
Enjoy working together
Loyal to the team and has a sense of team spirit

22
Q

Belbin’s Team role theory

A
  1. Leader - balanced and a disciplined
  2. Shaper - dom, extrovert, promotes activities
  3. Plant: New ideas, intellectual, innovative
  4. Monitor-eval: critc, brings down to earth
  5. Resource-investigator: network, influential
  6. Implementer: Admin, organiser, trustworthy
  7. Team worker: bonding, diplomatic
  8. Completer-finisher: chases progress
  9. specialist
23
Q

Tuckman’s stages of grp devn

A

Forming
Storming
Norming
Performing
dorming
Adjourning

24
Q

Content theories/need theories - motivation

A

Human needs and desires can be satisfied with work. Focuses on the “What” to motivate
1. Maslow’s Hierarchy
2. Herzberg’s 2 factor
3. McGregor’s X,Y theory

25
Q

Process theories - motivation

A

Assumes that motivational tools should be goals and process centric rather than needs centric.
Ponders on the question “How” are people motivated
1. Vroom’s expectancy theory

26
Q

Maslow’s Hierarchy of needs:

A

Physiological Needs
Safety needs
Belongingness needs
Esteem needs
Self actualization

27
Q

McGregor X & Y theory:

A

Managers make assumptions about employees: two types of managers
1. Theory X
Assumes Workers - little ambition, no work
Manager follows rigid, authoritative policy of management
2. Theory Y
Assumes workers – self direction, responsible, included in decision making, given higher autonomy.
Manager follows a liberal attitude; views employees as assets.

28
Q

Herzberg’s 2 factor theory:

A
  1. Hygiene/maintenance/environmental/extrinsic:
    Supervision; relation with supervisor; salary; working conditions
  2. Motivators/psychological/intrinsic:
    Achievement; recognition; work itself; growth
29
Q

Herzberg’s 3 job designs:

A
  1. Job enrichment (vertical job enlargement)
  2. Job enlargement (horizontal)
  3. Job rotation
30
Q

Herzberg’s 3 job designs:

A
  1. Job enrichment (vertical job enlargement)
  2. Job enlargement (horizontal)
  3. Job rotation
    eg : A Floor Supervisor Responsible for work area A and ensuring production runs smoothly
    *Job enrichment –coordinating with the purchase department to reorder and maintain inventory levels
    *Job enlargement –also responsible for inventory counting
    *Job rotation–floor supervisor for work area B on the weekends
31
Q

Vroom’s Expectancy

A

Motivation (reason to perform) = expectancy (perceived probability that effort will lead to good performance) * Valence (degree to which rewards are valued)

32
Q

Types of Intrinsic ad extrinsic rewards

A

Extrinsic reward–initiated from outside the person
●Salary and wages
●Employee benefits
●Interpersonal rewards
●Promotions

Intrinsic reward–one that is self-administered by the person
●Completion
●Achievement
●Autonomy
●Personal growth

33
Q

Learning and it’s types:

A

The process of acquiring knowledge through experience
1. formal: structured
2. informal: no structure
3. incidental: learns as a by-product while lesrning someting else

34
Q

Kolb learning cycle:

A

Concrete experience (divergent)
Reflective observation: (assimilative)
Abstract conceptualization (Convergent)
Active experimentation (Accomodative)

35
Q

Honey & Mumford’s learning styles

A
  1. Activists - dynamic, new challenges, games, competitive tasks.
  2. Reflectors - cautious, indecisive, observational
  3. Theorists - analytical, structured approach, activities with links between ideas & principles.
  4. Pragmatists - Common sense learners, practical learners, practical decisions, short-tempered
36
Q

Implications of learning models of Kolb and H&M

A

(a) Kolb Model Implications
*Assimilating Learning Style –Don’t prefer learning without notes and instructions
*Accommodating Learning Style –Don’t prefer learning with notes and instructions as they require a hands-on experience

H&M:
Activists: hands-on experience, practical approach, do not prefer theory
Reflectors: observational approach; non participative, rushing is not ideal
Theorists: pre-decided; structured, analytical
Pragmatists: require link between training and real-world problems

37
Q

Define training, development, education

A

1 Education: all-round enrichment; not only a specific area
2. training: more focused and specific
3. Development: enhancement of skills; soft skills

38
Q

Training and development process:

A

Stage 1: Identification of training needs
Stage 2: Setting objectives for training
Stage 3: Program design and delivery
Stage 4: Evaluation and validation of the training program

39
Q

Identification of training needs:

A
  1. Performance appraisal
  2. Observational
  3. Organizational strategy
  4. Formal training needs analysis
40
Q

Setting objectives: Obj should be?

A

SMART
Specific
Measurable
Attainable
Realist
Time-bound

41
Q

Evaluations:

A
  1. Reactions
  2. Learning
  3. Job behavior
  4. Organisation: 3E’s - Efficiency (output measured against inputs); Effectiveness (Output m against obj met); Economy (Output measured against cost)
  5. Ultimate value
42
Q

What is performance assessment?

A

Is a regular and systematic review of performance and assessment of potential - aim of producing action programs to development.
Making employees more efficient- bringing the best in them

43
Q

Appraisal and its objectives:

A

Determination of the revised compensation package and salary
●Assessment of present and future growth potential with any scope for growth and development
●Improve communication between managers and their direct subordinates
●Identify suitable candidates for promotion and retirement
●Help formulate a training plan in order to fulfil the present learning gaps experienced by the employees

44
Q

Process of Performance Assessment

A

1.Set targets
2.Monitor existing performance
3.Review performance
4.Devise an action plan

45
Q

Types of staff appraisal:

A
  1. Review and comparison - reviewing the existing performance and comparing it with other benchmarks.
  2. management by objectives: managers focusing on whether
  3. Task: cantered approach - subs being given the freedom to perform a particular task, devise their own method.
46
Q

Performance appraisal process

A
  1. Identification of the assessment criteria:
  2. Preparation of an appraisal report
  3. Interviewing the appraisee
  4. Concluding report and actionable plan of action
47
Q

Optimum Appraisal Practice -> 4 traits

A

FFFF
Firm
Factual
Fair
Frequent

48
Q

Lockett’s criteria for evaluating appraisal effetiveness

A

SCERF
Serious intent
Co-operation
Efficiency
Relevance
Fairness

49
Q

Staff turnover:

A

Formula: (Tot separations or replacement) / averaged number in the workforce.

Causes:
1. Discharge
2. Unavoidable
3. avoidable

ACCA F1 (4 decks)

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