3.2 Managers, Leadership and Decision making Flashcards
(3 cards)
1
Q
What is Management?
A
The Process of coordinating and directing the activities of an organisation to achieve its goals efficiently through planning, organising and controlling resources.
2
Q
What is Paternalistic?
A
A leadership style where the leader acts as a father figure, making decisions for the benefit of employees while expecting loyalty and obedience in return.
3
Q
What is Opportunity Cost?
A
The value of the next best alternative that must be forgone (something that one has given up or gone without) when a decision is made to allocate resources to a particular option.
