3.2 Managers, Leadership And Decision Making Flashcards

1
Q

Define leadership

A

Leadership means taking the initiative to set clear objectives and the motivate or guide staff towards their achievement

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2
Q

Define management

A

Management means organising and galvanising staff to implement the strategy is needed to achieve the objectives

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3
Q

The role of managers should include:

A
– Setting objectives
– analysing
– leading
– making decisions
– reviewing
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4
Q

Give examples of leadership qualities

A
– Brave
– passionate
– willing to take risks
– driven
– organised
– confident
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5
Q

What is an autocratic leadership style?

A

Autocratic managers are authoritarian; they make decisions without reference to anyone else. They tend to use one way, top-down communication. They give orders to employees and do not want feedback.

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6
Q

What is a democratic leadership style?

A

Democratic managers encourage decision-making from different perspectives. They tend to listen to the employees ideas and ensure people contribute to the discussion; communication is the way. Bosses put the idea forward and listen to feedback. This helps motivation of employees.

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7
Q

What is a laissez-faire leadership style?

A

This occurs when leaders are too busy or just lazy, that they let everyone take responsibility for decisions. This can make decision-making time-consuming and can lack direction of what the business needs to do. However, it is useful for when creative ideas are needed and can be very motivational for employees.

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8
Q

What is a paternalistic leadership style?

A

Paternalistic leader thinks and acts like a father. They try to do what is best for their staff. Employees are consulted when decisions are made. They are closely supervised to supply direction. Paternalists are interested in the security and social needs of staff

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9
Q

What is the Blake Mouton grid?

A

The Blake Mouton grid assess managers based on how much they care about their employees and how much they care about production, which assess their leadership style.

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10
Q

What are the five styles of leadership represented on the Blake Mouton grid?

A
  1. Impoverished style
  2. Produce or perish style
  3. Country club style
  4. Middle of the road
  5. Team style
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11
Q

What does an impoverished style entail?

A

Low concern for people and low concern for production. This is poor management for both human and production resources. This results in low levels of motivation in the workforce and low levels of productivity or failing quality

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12
Q

What does a produce or perish leadership style entail?

A

An authoritarian focus on the work with strict rules that leads to a neglect of workers needs and a demotivated workforce. This may result in high levels of absenteeism and staff turnover

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13
Q

What does a country club style of leadership entail?

A

High concern for people, low concern for task. An over concern with work and welfare and harmony leads to a happy but not very productive workplace. This leadership style doesn’t motivate the workers to increase their output

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14
Q

What does a middle of the road leadership style entail?

A

Average concern for workers needs and average focus on production leads to mediocre results. Although productive output is higher than in the impoverished or countries club style, it could be better

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15
Q

What does a team style of leadership entail?

A

This is seen as the ideal leadership style. High concern for people in production creates a happy, motivated and productive workforce. It often uses non-financial methods of motivation. And there is a high concern for the production as well

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16
Q

What is the Tannenbaum Schmidt continuum?

A

The continuum puts leadership styles on a scale from autocratic management through increasing levels of participation in decision-making by the workforce

17
Q

What are the 4 main types of management style that are in the Tannenbaum Schmidt continuum?

A

– Tells
– sells
– consults
– joins

18
Q

What type of management style is similar to a tells style?

A

Autocratic or authoritarian

19
Q

What type of management style is similar to a sell style?

A

Paternalistic

20
Q

What type of management style is similar to a consults style?

A

Democratic

21
Q

What type of management style is similar to a joins style?

A

Laissez-faire

22
Q

What are the two types of decision making?

A

Scientific and intuitive (hunch)

23
Q

What are the 6 stages in scientific decision making?

A

1) set objectives
2) collect data
3) analyse data
4) make decision
5) implement decision
6) review decision

24
Q

What are the three main things that influence decisions? (Hint: think RRU)

A

Risk, reward and uncertainty

25
Q

Define opportunity cost

A

Opportunity cost is the potential benefits a business misses out on when choosing one alternative over another

26
Q

What does a square represent in a decision tree?

A

Decision point

27
Q

What does a circle represent on a decision tree?

A

Alternative outcomes

28
Q

What do decision trees help set out?

A

Decision trees show which course of action is probably best from a financial point of view

29
Q

Give 2 advantages of decision trees

A
  • visual representation of outcomes

- allow managers to quantify options

30
Q

Give 2 disadvantages of decision trees

A
  • they are only quantitative

- probabilities are hard to accurately predict

31
Q

Give 2 internal stakeholders

A
  • owners/ managers

- employees

32
Q

Give 5 examples of external stakeholders

A
  • customers
  • suppliers
  • local community
  • government
  • creditors - people the business owes money to
33
Q

What analysis technique takes into account the power and interest of stakeholders?

A

Stakeholder mapping

34
Q

What are the axis variables on a stakeholder map?

A

Power/ influence (y) and interest (x)

35
Q

Relationships with stakeholders are important. How can a business keep them satisfied?

A

1) Adapt to external influences
2) Don’t just focus on one stakeholder at the expense of another
3) Consult all stakeholders before major decisions
4) Keep good communication between the business and their stakeholders