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a level business > 3.2 leadership > Flashcards

3.2 leadership Flashcards

1
Q

the role of managers

A

planning
organising
controlling
directing

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2
Q

planning

A

setting targets
estimating resources needed
budgeting
forecasting

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3
Q

organising

A

coordinating teams
allocating resources
giving instructions to subordinates

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4
Q

directing

A

giving guidance and instruction
motivating employees
delegating authority

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5
Q

controlling

A

reporting on performance eg financial reporting
monitoring employee performance eg conducting appraisals
enforcing company policy and rules
monitoring targets and budgets

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6
Q

two theories involved in management and leadership

A

trait theory
behavioural theory

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7
Q

trait theory

A

the belief that leaders and managers hold certain traits that distinguish them from other people
there is disagreement about the exact traits that constitute a succesfull leader
one argument against this theory is that successful leaders have been found to possess very different traits from one another

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8
Q

behavioural theory

A

the behavioural theory of leadership suggests that there is an appropriate style of management or leadership determined by the context, situation and nature of the task
there are a number of theories that explore behavioural management and consider different styles based on a number of different factors
eg task vs relationship styles (the blake mouton grid) or the extent to which a manager tells employees or listens to their opinions (the tannenbaum-schmidt continuum)

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9
Q

what is the blake and moulton grid

A

identifies a number of approaches to leadership based on the extent to which a manager is focused on their concern for production and their concern for people

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10
Q

what are the 4 categories on the blake moulton grid

A

impoverished
country club
team leader
produce to perish

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11
Q

what goes on the x axis of a blake moulton grid and what goes on the y axis

A

x= concern for production
y= concern for people

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12
Q

where is impoverished on the blake moulton grid

A

low concern for people
low concern for production
(bottom left)

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13
Q

where is country club on the blake moulton grid

A

low concern for production
high concern for people
(top left)

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14
Q

where is team leader on the blake moulton grid

A

high concern for production
high concern for people
(top right)

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15
Q

where is produce to perish on the blake moulton grid

A

high concern for production
low concern for people

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16
Q

impoverished

A

perhaps focused on self and not leading the organisation
dissatisfcation and disorganisation
an ineffective manager

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17
Q

country club

A

a relaxed working environment
manager is concerned with relationships and motivation of employees
task may not get done

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18
Q

team leader

A

high focus on both
in theory this should he highly successful as the employees needs should he aligned to those of the organisation
employees feel involved and have a stake in the success of the business

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19
Q

produce or perish

A

authoritatrian
driven by targets and getting the task done
cares little for well-being or feelings of employees

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20
Q

what can the blake moulton grid be used to do

A

help managers reflect on their own practice and identify strategies to improve their management/leadership skills

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21
Q

what is the tannenbaum schmidt continuum

A

shows where a managers approach lies on a continuum ranging from the manager imposing strict authority to one extreme, through to employees having full freedom to act as they choose at the other extreme

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22
Q

what can the tannenbaum schmidt continuum be used for

A

to make choices about which approach to adopt, but no advice is given on how the approach should be chosen based on the circumstances

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23
Q

stages on the tannebaum schmidt continuum

A

(use of authority by leader) ( autocratic boss-centred leadership)
tells
sells
suggests
consults
joins
delegates
abdicates
(area of freedom by subordinates) ( empowered subordinate-centred leadership)

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24
Q

what is seen on the far left of the tannebaum schmidt model

A

authoritarian leader top down decisions

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25
Q

what is seen on the middle of the tannebaum schmidt continuum

A

leader gains ideas and opinions from team before making the decision

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26
Q

what is there on the middle-right of the tannenbaum schmidt continuum

A

ideas and opinionns valued by leader and decisions made as ateam

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27
Q

what is seen on the far right of the tannebaum schmidt continuum

A

laissez-faire leadership style

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28
Q

different leadership styles

A

auotocratic (auothoritarian)
democratic
laissez-faire

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29
Q

advantages of autocratic (authoritarian) leadership

A

focused on getting the task done
high levels of control suitable for unskilled workforce
speeds up decision-making process- important in times of crisis
suitable for implementing a clear vision held by the leader

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30
Q

disadvantages of autocratic (authoritarian) leadership

A

can lead to low levels of ,otivation if employees dont feel respected or valued
no opportunity for employees to be involved in decision making
no opportunity to collect ideas and opinions of the workforce that might be valuable
employees might not feel as though they have a stake in the business

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31
Q

advantages of democratic leadership style

A

develops a team spirit- more opportunity for employees to ‘buy in’ to the task if they feel they have had a say
allows a manager to collect ideas and opinions from the whole workforce

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32
Q

disadvantages of democratic leadership style

A

decision making can take a long time when done by committee
employees may not see the ‘bigger picture’ and vote for decisions that benefit them

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33
Q

advantages of laissez-faire leadership

A

allows employees autonomy to make their own decisions
often leading to higher levels of creativity and motivation amongst workers

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34
Q

disadvantages of laissez-faire leadership style

A

lack of control over the workforce- deadlines and targets might be missed
tasks may not be coordinated very well

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35
Q

what factors should you take into account when trying to identify the best approach to management/leadership

A

labour force
nature of task
timescale
personality and tradition

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36
Q

how are decisions made

A

on both quantitative and qualitative information
use both scientific techniques (data, logic, rationale) and the intuition of the manager (experience and hunches)

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37
Q

what is the decision making process

A

set objectives
gathering information
choosing the course of action
implementation
review

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38
Q

how is gatheuing info involved in decision making

A

to make the most appropriate decision factors such as risk, reward and uncertainty will be taken into account

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39
Q

how does choosing the course of action affect the decision making process

A

process is key if decisions are to be made scientifically
however managers are just as likely to use their own experience and intuition
a decision might be strategic or tactical

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40
Q

how is review involved in the decision making process

A

a range of techniques might be used to evaluate the success of a decision or porject eg financial ratios for the triple bottom line

41
Q

4 key decision making factors

A

risk
reward
uncertainty
opportunity cost

42
Q

risk

A

the chance of an occuring misfortune or loss
risk is calculatrd by multiplying the extent of the impact by the probability of its occurence
in business risk generally refers to financial loss

43
Q

reward

A

generally translates into greater revenue and profit
sometimes a risk might be worth if taking the reward is substantial
eg the first to enter a new market or secure a patent on a new product

44
Q

uncertainty

A

very little is certain in business
managers have to question the reliability of the information (scientific or hunches) that a decision is based upon

45
Q

opportunity cost

A

the next best opportunity forfeited and all things remaining equal (ceteris paribus)
managers must always make decisions to gain the best returns fron the resources they have available

46
Q

scientific decision making (data)

A

decisions based on data such as financial forecasts or using business tools such as breakeven analysis or investment appraisal

47
Q

intution or hunch decision making

A

decision based on experience and ‘gut feeling’ without havig supporting data

48
Q

advantages of scientific decision making

A

data can help reduce the risk in decision making and help identify the likely outcome
data can help compare alternative options

49
Q

disadvantages of scientific decision making

A

sometimes data can be hard to collect or very expensive to collect especially for small businesses
sometimes data is nit available out of date or unreliable

50
Q

advantages of decisions based on experience

A

intuition might come from the experience of the manager and this is useful when making qualitative decisions such as the charachter of a new employee or the potential success of a new marketing campaign or brand name

51
Q

disadvantages of decisions made based on experience

A

without evidence in the form of data decisions based on intution can be high risk

52
Q

decision trees

A

a model that represents the likely outcomes for a business of a number of courses of action showing the financial consequences of each

53
Q

benefits of decision trees

A

clarifies possible courses of action
adds financial data to decisions
makes managers account for risk

54
Q

limitations of decision trees

A

probabilities are often estimated
does not consider qualitative information
does not take into account dynamic nature of business

55
Q

what factors influence decision making

A

the objectives and mission of the business
ethics
level of risk involved
the external environment including competition
resource constraints

56
Q

how do ethics influence decision making

A

using a ‘moral compass’ to guide decisions

57
Q

how does the level of risk involved influence decision making

A

some managers and businesses are more risk adverse than others

58
Q

how does the external environment including competition influence decision making

A

most decision making models dont take into account these factors that are constantly changing

59
Q

how does resource constraints influence decision making

A

a business can only make decisions if they have the resources available (labour, capital, knowledge) and this is where opportunity cost comes in

60
Q

what are stakeholders

A

groups or individuals who have an interest in a busines

61
Q

internal stakeholders

A

employees
managers
shareholders

62
Q

external stakeholders

A

suppliers
customers
local community
government agencies

63
Q

interests of employees and managers

A

good income
job security
safe working conditions
opportunity for development/promotion
meet their tragets

64
Q

interests of shareholders

A

return on investment
increased value of shares
ethical business practices
growth of the company

65
Q

interests of stakeholders

A

regular trade
fair prices
paid on time

66
Q

interests of customers

A

reliable products
good service
value for money
clear and fair pricing

67
Q

interests of local community

A

employment
investment in local area
no pollution

68
Q

interests of government agencies

A

abide by legislation and rules
fair and open trade
employment opportunities
tax

69
Q

what is the concept of managing stakeholder expectations closely linked to

A

social responsibility

70
Q

how does meeting the needs of stakeholders encourage ethical practices

A

by reducing the negative impact of a business’ decisions on a third party

71
Q

disadvantages of meeting stakeholders needs

A

expensive
time consuming
can compromise profitabilility in the short term

72
Q

what major conflict do business have to do with stakeholders

A

focusing on the needs of shareholders or the wider stakeholder groups

73
Q

what sis stakeholder conflict

A

sometimes stakeholder interests are aligned but usually satisfying one set of needs can lead to conflict elsewhere
nusinesses should consider why conflicts might exist and what the business could do to resolve these conflicts

74
Q

what is a stakeholder map

A

a tool to assess the interest and power of stakeholders to make decisions about how to manage them

75
Q

what is on the x and y axis of a stakeholder map

A

x= interest of stakeholders
y= influence/power of stakeholders

76
Q

where s ‘least important c’ on a stakeholder map

A

low interest of stakeholders
low influenve/power of stakeholders
bottom left

77
Q

where is ‘meet their needs A’ on a stakeholder map

A

low interest of stakeholders
high influence/power of stakeholders
top left

78
Q

where is ‘key player B ‘ on a stakeholder map

A

high interest of stakeholders
high influence/power of stakeholders
top right

79
Q

what is ‘keep informed D’ on a stakeholder map

A

high interest of stakeholders
low influence/power of stakeholders
bottom right

80
Q

meet their needs A

A

high power but low interest
may be key shareholders who are only interested in return on investment
satisfy needs but try to increase their interestt and involvement in the business

81
Q

Key player B

A

may be key customers who account for a significant percentage of sales
keep them happy, consult and involve them in key decisionns

82
Q

least important C

A

minimal effort
make sure information is available to this group through newsletter or website

83
Q

keep informed D

A

perhaps local residents who are concerned with the business actions
communicate key decisions only
possibly consult on low impact decisions

84
Q

how are stakeholder maps useful

A

useful decision making tools to generate discussion and give structure to decision making
however they dont provide businesses with clear solutions on how to manage stakeholders

85
Q

how can the likelehood of stakeholder conflict be reduced

A

through effective communication and in some circumstances consultation

86
Q

what are the communication strategies used ranging from high power/high interest to low power/low interest

A

partnership
participation
consultation
‘push’ communication
‘pull’ communication

87
Q

partnership

A

decisions taken jointly
implement aactions together
shared responsibility

88
Q

participation

A

extensive two ways communication
given responsibility for certain decisions

89
Q

consultation

A

collect views/opinions
share ideas as proposals

90
Q

‘push’ communication

A

inform
one way communications
emails newsletters mailshots

91
Q

‘pull’ communication

A

information available for stakeholders if they choose to access eg website

92
Q

what are internal factors that influence stakeholder relationships

A

management and leadership
objectives
size/ownership

93
Q

external factors that influence stakeholder relationships

A

market conditions
stakeholder power
government policy

94
Q

how does management and leadership influence stakeholder relationships

A

differing leadership styles will determine how managers view employees
eg the Blake and Moulton grid

95
Q

how does objectives influence stakeholder relationships

A

profit objectives will be more aligned to shareholder interests
growth obectives may be more aligned with employees interests

96
Q

how does size/ownership influence stakeholder relationships

A

a sole trader will not have pressures of meeting shareholder expectations and may not have as big an impact on the local community

97
Q

how does market conditions influence stakeholder relationships

A

demand and the competitiveness of a market will change the piroirities of a business

98
Q

how does government policy influence stakeholder relationships

A

a business will have to meet its legal requirements no matter how this impacts its stakeholders
eg new employment legislation

99
Q
A

a level business (10 decks)

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