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Business Management IB > Unit 2.3 - Leadership and Management > Flashcards

Unit 2.3 - Leadership and Management Flashcards

1
Q

What is scientific thinking/management?

A
  • Relies on making decisions thoroughly by gathering necessary information/data and then analysing this before deciding what to do.
  • Based on managers being objective, rational, and logical rather than instinctive/subjective
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2
Q

What is intuitive thinking/management?

A
  • Opposite of scientific thinking: relies on considered instinctive feelings/emotions to make decisions
  • Based on people’s knowledge, insights, gut feelings, instinct, faith… (sensory perceptions/emotions -> informed choices)
  • Often used when tackling ethical dilemnas or hwen quick decision needs to be made
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3
Q

What are the three steps in the edcision-making process of scientific thinking? Explain them

A
  1. Where are we now? - Identifying issue/opportunity
  2. Where do we want to be? - Deciding what is important for organization in relation to its business objectives and mission or vision.
  3. How do we get there? - Using available data/information -> compare alternative options in order to choose/implement a plan of action to achieve goals
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4
Q

How has internet and technology impacted scientific thinking/management?

A
  • Made it easier/cheaper for business to collect, collate and analyse data
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5
Q

What are advantages of scientific thinking/management?

A
  • Using range of primary/secondary data -> help managers make objective/well-informed decisions
  • Minimize risks of decision-making/problem solving
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6
Q

What are disadvantages of scientific thinking/management?

A
  • Past empirical evidence might be unreliable/unrepresentative of current situations
  • Cost and time required -> prohibitive for small businesses
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7
Q

What are advantages of Intuitive thinking/management?

A
  • Suitable when reliable/facts data are not readily available such as in crisis/emergency situation
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8
Q

What are disadvantages of Intuitive thinking/management?

A
  • Could lead to mistakes, especially when data/info are available to support fact-based decisions. Irrespective of level of experience of decision maker
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9
Q

What is management?

A
  • Process of achieving organizational objectives by using limited resources an organization has
  • Hence, managers = perhaps most influential in the degree of success of a business
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10
Q

What are the levels of management?

A

Seniot management, Middle Management, Supervisory Management

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11
Q

According to Henry Fayol, what are the key functions of management? Explain them.

A
  • Planning: Set smart targers, strategic/tactical plans
  • Organizing: Organize factors of production
  • Commanding: Give instructions to subordinates
  • Coordinating: Ensure employees have common approach to achieving goals
  • Controlling: Ensure employees meet standards and requirements
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12
Q

What does DOC PROBS acronym stand for? What does it relate to?

A

Roles & Functions of Management
- Directing, Organizing, Coordinating, Planning, Reporting, Objectives, Budgeting, Staffing

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13
Q

What are differences between Leaders and Managers?

A
  • Managers: task-orientated, deal with administrative aspects of organization
  • Leaders: Focus on organizational strategy (strategic direction)
  • Managers: Part of/comply with organizational culture
  • Leaders: Shape and change organizational culture
  • Managers: Manage people to achieve organizational goals
  • Leaders: Inspire others to pursue organizational mission/vision
  • Managers: Focus on the present
  • Leaders: Focus on the future
  • Both are decision makers
  • Managers: focus on organizational norms and policy making
  • leaders: focus on innovation and risk-taking
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14
Q

What are the Leadership Styles?

A

Autocratic, Paternalistic, Democratic, Laissez-Faire, Situational

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15
Q

What is Autocratic Leadership?

A
  • Authoritative, centralises decision-making without consulting others
  • Formal chain of command: consultation with subordinates in decison-making is non existent
  • Rely on own ideas/experiences/instincts when making decisions
  • Suitable when employees are unskilled/inexperiences/lack initiative (factories, military, emergency services…)
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16
Q

What are advantages of Autocratic Leadership?

A
  • Ensures leader has complete control of operations
  • Speeds up decision-making process
  • Provides workers with cleasr sense of direction and clarity over their roles (understand exactly was is expected)
  • Aprropriate/Effective when critical/urgent decisions need to be made
16
Q

What are Disadvantages of Autocratic Leadership?

A
  • Creativity & Innovation supressed and discouraged: employees not involved in decision-making process
  • Does not develop internal talents of workforce
  • Demotivates employees: opinios not valued
  • Does nothing to build intrapeneurial spirit in workplace
  • Higher labour turnover rate -> usually costly to organization
16
Q

What is Paternalistic Leadership?

A
  • Decisons on behalf of of their team in belief that they are in the best interest of the workers
  • Employees seen as family members (common in family-run businesses)
  • Commonality with autocratic leadership style because there is clear and dominant central person who holds control of all decision-making power
  • Consultation may occur but leader makes decisons, guiding/protecting team
  • See workers as less capable and/or experienced than themselves
17
Q

What are advantages of Paternalistic Leadership?

A
  • Motivate staff as they feel guided and interests protected
  • Ensures harmonious relationsips at work as leader genuinely values staff
  • Promotes loyalty to leader/organization
  • Creates sense of belonging -> helping meet workers’ safety and social needs (Maslow’s hierarchy)
  • Overall: good for staff morale/motivation/productivity -> hence beneficial to organization (lower staff turnover rate, higher profitability)
18
Q

What are disadvantages of Paternalistic Leadership?

A
  • Decision-making centralized -> workers dissatisfied if views are ignored
  • Communication mainly top-down from senior management
  • Paternalistic leaders may not always make best decisions -> conflict & disagreement
19
Q

What is Democratic Leadership?

A
  • Willing to delegate authority and consult subordinates in decision-making
  • Characterized by inclusiveness: all employees encouraged to share views/ideas in decision-making process
  • Comfortable with trusting employees to carry out jobs
  • Consultation/collaboration important to success of organization
20
Q

What are advantages of Democratic Leadership?

A
  • Workers feel valued: actively encouraged to participate in decision-making -> motivation
  • Most made out of skills/experiences/creativity of employees
  • Collaboration -> higher morale, improved productivity -> higher staff loyalty
  • Takes advantage of innovative potential of employees
  • Feedback from employees -> better understand their concerns
21
Q

What are disadvantages of Democratic Leadership?

A
  • Disagreement/disharmony: not realistic to please everyone all the time
  • Ineffective when critical decisions need to be made quickly (sometimes employees need to do what they’re told)
  • Time consuming/Costly
  • Negative impacts on daily operations of organization
22
Q

What is Laissez-Faire Leadership?

A
  • Leader delegates significant amount of authority to subordinates and provides them with freedom to carry out tasks in their own way (minimal direction/supervision)
  • Workers have autonomy to make own decisions on how to best accomplish organizational objectives
  • Opposite of autocratic
  • Success depends on employees (skills/talents/experiences/drive/level of commitment)
23
Q

What are advantages of Laissez-Faire Leadership?

A
  • Motivational -> employees have freedom to carry out tasks in any effective they wish
  • Encourages creativity -> more innovation
  • Helps develop intrapeneurial culture in organization -> competitive advantages
  • Overall: help achieve greater productivity, staff morale, lower labour turnover rate, and higher profitability
24
Q

What are disadvantages of Laissez-Faire Leadership?

A
  • Monitoring/coordination of business operations -> more difficult/time-consuming especially due to absence of managerial control
  • Slack can arise due to minimal level of supervision
  • Does not suit all workers: some may want/prefer clear guidance and direction; having large amount of freedom can worry some workers
25
Q

What is Situational Leadership?

A
  • Leader willing/able to change leadership style according to circumstances (e.g. naturally Laissez-Faire leader may need to switch to autocratic during crisis)
  • No single leadership style works all the time : different styles appropriate depending on situation/context
26
Q

What are advantages of Situational Leadership?

A
  • Recognizes good leaders must be adaptive
  • Most practical of all styles
  • Dynamic nature of business environment -> leaders have to adjust styles to suit different situations/changes in market
27
Q

What are disadvantages of Situational Leadership?

A
  • if workers become used to particular style, might be dishearted/disturbed if it changes
  • Most people have preferred leadership styles -> changing or adopting different style can be difficult/uncharacteristic for them
28
Q

What are the Factors Affecting the Choice of Leadership Style? Explain them. Acronym ‘TWICE’

A
  • Task: wether it is routine/high-risk activity or time consuming/costly
  • Workers: skills, qualifications, confidence, experience and abilities of workers
  • Individual: Leader’s personality preferences
  • Culture: Organizational culture
  • Experiences: Past experience from leaders in handling different situations/circumstances

Business Management IB (8 decks)

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