Management And Leadership Flashcards
(30 cards)
What is Autocratic Leadership
Imposing decisions on a group with little of no prior discussions and limited individual choice allowed.
What is the Blake Mouton Grid
A graphical portrayal of leaderships styles through a managerial matrix. The matrix shows the type of management style in terms of their concern for people and concern for production
What is consultation
A process in which one person or group discover the view of another. After asking for their views the original strategy may be amended
Country club leadership
The manager is most concerned about their team members’ needs and feelings assuming that, as long as they are happy and secure, they will work hard.
What is a decision tree
A diagram showing options available and the probabilities of various outcome from these decisions
What is democratic leadership
This is allowing group discussions to influence the final decision . Leaders mix informally with the subordinates and are known personally .
What is expected value and what is the equation
The most oil key financial outcome from a specific strategy adjusted to take into account the different probabilities
Expected value = out come 1 x probability of outcome 1 + outcome 2 x probability of outcome 2
Impoverished leadership
With a low regard for creating systems that get the job done, and with little interest in creating a satisfying or motivating team environment.
Intuition
The use of a hunch or gut feeling to make decisions
What is Laissez-Faire leadership
The leader has minimal input, delegating heavily leaving staff to make necessary decisions
What is leadership
People who others naturally follow through in spirit ion and trust. Leaders may not necessarily be managers who have people who have people who work for them, but the best managers are also leaders.
Management
The process of controlling people and getting things do via planning, organising controlling and directing
Manager-centred leadership
One end of the Tannenbaum Schmidt continuum in which the manger makes decisions and announces it without consultation
Middle of the road leadership
The manager tries to balance results and people, but this strategy is not as effective as it may sound. Through continual compromise, they fail to inspire high performance and also fails to meet people’s needs fully. The result is likely to be mediocre performance.
What is net gain
The expected benefit from a course of action after all the costs have been paid. It is used in decision tree analysis to work out the likely benefit of the action
Probability
The chance of something happening as a fraction or percentage
Produce or perish leadership (task manager)
Managers who believe that their team’s needs are always secondary to its productivity. This type of manager is autocratic, has strict work rules, policies and procedures, and can view punishment as an effective way of motivating team members
What are resource constraints
The limitations of quantity of quality of labour, materials, time and information and these limits make decision-making harder
Risk
The probability of loss on an investment or a return that is less than expected
What is scientific decision making
Attempt to make logical decision based on data analysis
Stakeholders
Any individual or group that is affected by any business decision e.g customers, workers, shareholders, local residents, creditors
What is stakeholder engagement
Involving anyone who has an interest in the business’ decisions via consultation, negotiation or communication
Stakeholder power
The level of influence that a stakeholder group has e.g a pension company with a larger shareholding can be an influential stakeholder voice
Stakeholder mapping
Plotting the level of interest and power that stakeholders shave on a grid. Thus enables the managers to decide how much it involve and react to various different stakeholders groups.
