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business a level > Topic 2- Managers > Flashcards

Topic 2- Managers Flashcards

1
Q

What does leadership mean

A

Taking the initiative to set clear objectives and to motivate or guide staff towards their achievement

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2
Q

What does management mean

A

Organising and galvanising staff to implement the strategies needed to achieve the objectives

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3
Q

How can delegation by authority by democratic leaders be approached (2)

A
  • management by objectives

- laissez-faire

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4
Q

What is a paternalistic leader (3)

A
  • They think and act like a father
  • they try to do what is best for the team
  • interested in the security and social needs of staff
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5
Q

What are the 2 leadership behaviours that the “Blake/Mouton” grid looks at

A

1) concern for people

2) concern for performance

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6
Q

What is the blake/mouton grid

A

It is a model that highlights different management styles according to their focus on the task and the people within the business

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7
Q

What is a problem with the b/m grid

A

-it possibly implies that leadership styles are static e.g the boss can only maintain one leadership style

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8
Q

What is the Tannenbaum and Schmidt continuum

A

It is a model that highlights a range of different management styles suggesting that it was more dynamic

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9
Q

Strengths of the Tannenbaum and Schmidt continuum (2)

A
  • leaders can change per different situations

- shows a range of leadership styles which managers can adapt to

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10
Q

What are tactical decisions

A

-they tend to be immediate/short term

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11
Q

Who are tactical decisions usually made by

A

Middle management

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12
Q

What are operational decisions

A

They relate to the day-to-day running of the business. They are mainly routine

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13
Q

Who are operational decisions usually made by

A

Middle or junior managers

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14
Q

What are strategic decisions

A

They are long term in their impact. They affect and shape the direction of the whole business

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15
Q

Who are strategic decisions usually made by

A

Senior managers

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16
Q

Influences on decision making (6)

A
  • external environment
  • mission
  • resources
  • ethics/ beliefs
  • competition
  • objectives
17
Q

What is a decision tree

A

They are diagrams that set out all the options available when making a decision, plus an estimate of their likelihood of occurring

18
Q

When can you use decision trees (2)

A
  • when discussing important concepts in decision making such as choices, opportunity cost etc
  • shows different outcomes
19
Q

Decision trees (key terms)

Node

A

(Circle)- outcomes

20
Q

Decision trees (key terms)

List out all 4 key terms

A
  • node
  • actual values
  • expected values
  • net gains
21
Q

Advantages of decision trees (3)

A
  • allow for uncertainty
  • they make managers consider all possible outcomes
  • encourages a quantitive approach
22
Q

Disadvantages of decision trees (3)

A
  • can be biased
  • hard to get accurate date
  • managers can manipulate data
23
Q

What is an opportunity cost

A

The cost of missing out on the next best alternative when making a decision

24
Q

Examples of opportunity costs (3)

A
  • missing out on a regular salary (if setting up a business)
  • lose family time and time in general
  • benefits lost from investment spending
25
Q

Factors influencing choice of business start up (3)

A
  • cash requirements
  • suitable skills
  • suitable time
26
Q

What are trade-offs

A

A situation that involves losing one quality or aspect of something in return for gaining another quality or aspect

27
Q

What are stakeholders

A

An individual or group that has an effect on and is affected by the activities of an organisation

28
Q

Examples of internal stakeholders (3)

A
  • workers
  • owners (shareholders in a ltd)
  • managers
29
Q

Examples of external shareholders (3)

A
  • suppliers
  • government
  • customers
  • shareholders in a plc
30
Q

Give the 4 aspects of shareholder mapping

A
  • monitor
  • keep informed
  • keep satisfied
  • manage closely
31
Q

Advantages if shareholder mapping (4)

A
  • it helps a business/ managers to set priorities when operating/ decision making
  • may improve motivation
  • saves time
  • High communication

business a level (13 decks)

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