unit 2 managers leadership and decision making

Question 1

whats the difference between leadership and management

Answer 1

leaders set the direction and strategy for the business and managers are those who organise the workforce and control the functions of a business

Question 2

what are the four leadership styles

Answer 2

autocratic or authoritarian
paternalistic
democratic
laissez faire

Question 3

what does autocratic and authoritarian leadership style mean

Answer 3

makes decisions without consulting staff

Question 4

what does paternalistic leadership style mean

Answer 4

gives attention to the social needs and views of their workers

Question 5

what is a democratic leader ship style

Answer 5

when they involve staff in decision making

Question 6

what does laissez faire mean

Answer 6

hands off
lets staff make decisions

Question 7

the tannerbaum-schmidt continuum tell

Answer 7

managers make decision and tell the staff about it

Question 8

the tannerbaum-schmidt continuum sell

Answer 8

manager sells decisions to staff

Question 9

the tannerbaum-schmidt continuum consult

Answer 9

manager presents problems and gets feedback and makes the decision

Question 10

the tannerbaum-schmidt continuum join

Answer 10

manager aske groups to make decisions within set limits

Question 11

what is a charismatic leader

Answer 11

when the leader feels they can do nothing wrong

Question 12

what is a beaurocratic leader

Answer 12

when the manager does everything by the rules

Question 13

what three things change the style of leadership

Answer 13

the individual
the nature of the industry
the business culture

Question 14

what is the scientific decision making

Answer 14

decision making that is based on data and uses a logical and rational approach

Question 15

what analytical tools do people use for scientific decision making

Answer 15

the boston matrix
the product life cycle
investment appraisal
ratio analysis
décision trees

Question 16

what is the opportunity cost

Answer 16

the cost of the next best alternative foregone

Question 17

what is intuition decision making

Answer 17

managers dont use data to inform their decisions they use gut instinct instead

Question 18

advantages of intuition decision making

Answer 18

can be accurite because of experience

made quickly

Question 19

disadvantage of intuition decision making

Answer 19

mistakes can be made from lack of experience

can be made for illogical reasons

Question 20

factors influencing intuition decision making

Answer 20

if data is not accessable

experience of managers

may be suitable for businesses willing to accept a higher level of risk

Question 21

advantages of scientific decision making

Answer 21

provides a clear sence of direction

decisions are accurite

Question 22

disadvantages of scientific decision making

Answer 22

they take a longer time to do

using out of date or poor data

experiences staff may be dismissed

Question 23

factors influencing scientific decision making

Answer 23

managers experience

risk business is willing to take

reliability of data

Question 24

what is a stakeholder

Answer 24

A stakeholder is someone or an organisation affected by a business’ activities or decisions

Question 25

3 internal and 5 external steakholders

Answer 25

employees, managers, shareholders suppliers, banks, government, local communities and customers

Question 26

what are the consequences of the steak holders disagreeing

Answer 26

can make a petition and disrupt business activities.

Question 27

businesses can manage their relationship with stakeholders using

Answer 27

communication and consultation.

Question 28

what is the stakeholder map

Answer 28

A stakeholder map can be used to display the relative power and interest of different stakeholder groups.

Question 29

Stakeholders with high power and high interest will need to be

Answer 29

managed closely and consultation may be appropriate for these individuals and groups.

Question 30

Stakeholders with high power and low interest will need to be

Answer 30

kept satisfied as they have the power to influence the business if they become dissatisfied.

Question 31

Stakeholders with low power and low interest will need to be

Answer 31

monitored though they lack influence and interest in many business decisions.

Question 32

Stakeholders with low power and high interest need to be

Answer 32

kept informed and consultation may be appropriate.