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Business AS Flashcards :) > Business - Unit 2: Leadership and Management > Flashcards

Business - Unit 2: Leadership and Management Flashcards

1
Q

What is leadership?

A

Leadership is the way in which one person influences the behaviour of actions of other people.

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2
Q

What is the role of a leader?

A

Inspiring employees
Creating a vision and a clear sense of purpose for a business
Shaping the core value and culture of business
Building effective teams

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3
Q

What is the role of Management?

A

Implement the strategy
Coordinate resources
Use their authority to take decisions
Manage risks
Have subordinates

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4
Q

Authoritarian leadership style

A

Focus of power is with the manager
Communication is one way
Very little delegation

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5
Q

Paternalistic leadership style

A

Leader decides what is best for employees
Links with Mayo- addressing employee needs
Akin to a parent/child relationship
Still little delegation
A softer form of authoritarian leadership

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6
Q

Democratic leadership style

A

Focus of power is more with the group as a whole
Leadership functions are shared within the group
Employees have greater involvement in decision making
Emphasis on delegation and consultation

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7
Q

Laissez–faire leadership style

A

Leader has little input into day to day decision making
Conscious decision to delegate power
Managers/employees have freedom to do what they think is best
Effective when staff are ready and willing to take on responsibility

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8
Q

Why has there been a move away from the traditional leadership style autocratic?

A

Changes in society’s values
Better educated workforce
Focus on need for soft HR skills
Changing workplace organisation
Changing workplace legislation
Pressure for greater employee involvement

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9
Q

Tannenbaum Schmidt Continuum

A

Tell
Sell
Consult
Joins

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10
Q

Impoverished Management

A

Laissez–faire style
Minimal effort
Hoping to avoid blame for errors

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11
Q

Country Club Management

A

Focus on creating safe, comfortable working environment
Minimal conflict

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12
Q

Task Management

A

Autocratic style
Workers have to complete tasks

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13
Q

Team Management

A

Staff closely involved in decision making and feel valued

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14
Q

Middle of the Road Management

A

Compromise made to achieve acceptable performance
thought to be the less effective leadership style

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15
Q

What are the axis on Blake Mouton Grid?

A

People- Y axis
Task- X axis

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16
Q

McGregor’s Theory X

A

Assumes that people dislike work and must be coerced, controlled and directed toward organisational goals

17
Q

McGregor’s Theory Y

A

Managers usually place a lot of trust in each member, which allows employees to exercise freedom and share ideas confidently

18
Q

What influences decision making?

A

Business objectives/budgets
Organisational structure
Attitude to risk
Availability
Reliability
External Environment

19
Q

Hunch decision making

A

Based on intuition and previous experience
Hard to justify for business decisions involving significant risk

20
Q

Scientific decision making

A

Based on data and analysis
Time consuming
Costly
Common and automated supported by big data and data analysis

21
Q

Why is scientific decision making becoming more popular?

A

More widespread availability of data
Greater sophistication of data analytics and skills

22
Q

What does opportunity cost mean?

A

The cost of missing out on the next best alternative

23
Q

Benefits of Decision Trees

A

Choices are set out in a logical way
Potential options and choices are considered at the same time
Use of probabilities enables the ‘risk’ of the options to be addressed
Likely costs are considered as well as potential benefits

24
Q

Drawbacks of Decision Trees

A

Probabilities are just estimates
Uses Quantative data only
Decision making technique doesn’t necessarily reduce amount of risk

25
Q

Shareholders/owners interest in the business

A

Dividends

26
Q

Managers/employees interest in the business

A

Job security
Good pay
Promotion/bonuses

27
Q

Customers interest in the business

A

Good products
Good service

28
Q

Suppliers interest in the business

A

On time payments
Lower payable payable days

29
Q

Banks and other finance interest in the business

A

Interest/loans
Pay back on time

30
Q

Government interest in the business

A

Tax
Jobs

31
Q

Society interest in the business

A

Environmental and ethical contribution

32
Q

Stakeholder Mapping Y axis

A

Stakeholder power

33
Q

Stakeholder Mapping X axis

A

Stakeholder interest

34
Q

Stakeholder- High power and low interest

A

Keep them satisfied

35
Q

Stakeholder- Low power and low interest

A

Communicate only when necessary

36
Q

Stakeholder- High power and high interest

A

Key Players
Take notice of them
Engage directly with them

37
Q

Stakeholder- Low power and high interest

A

Communicate regularly with them

Business AS Flashcards :) (5 decks)

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