Unit 3: management skills Flashcards
1
Q
management
A
involves getting people to work together for a common organisational goal using the skills of leading, motivating and communicating
2
Q
management skills
A
- leading
- motivating
- communicating
3
Q
characteristics of a manager
A
- problem solving ability
- flexibility
- charisma
- hard working
- initiative
4
Q
leading
A
management skill that encourages people to work towards a common organisational goal. managers choose between autocratic, democratic and laissez faire leadership styles
5
Q
autocratic leadership
A
management style where manager makes all business decisions without input from employees. does not trust employees and uses threat and punishment to motivate. does not delegate
6
Q
benefits of autocratic
A
- quick decision making
- quick task completion
- improved productivity
7
Q
disadvantages of autocratic
A
- management stress
- staff motivation
- industrial action
8
Q
democratic leadership
A
encourages employees to participate in decision making. manager has ultimate authority but values employee input. delegates tasks to employees and trust/empower employees. employees feel valued and are motivated
9
Q
benefits of democratic
A
- increased intrapreneurship
- future promotion
- employee motivation
10
Q
disadvantages of democratic
A
- slow decision making
- frustrated employees
- management resentment
11
Q
laissez faire leadership
A
management outlines business goals and trusts employees to decide on the best way to achieve these goals (overall responsibility lies with manager). empower employees to make decisions. no close supervision. highly motivated employees as they feel empowered to achieve goals.
12
Q
benefits of laissez faire
A
- employee motivation
- improved skills and knowledge
- intrapreneurship
13
Q
disadvantages of laissez faire
A
- reduced productivity
- poor decisions
- poor industrial relations
14
Q
delegation
A
involves assigning tasks to another person. requires:
1. open communication
2. employee skills and experience
3. managerial control
15
Q
advantages of delegation
A
- management workload
- increased employee motivation
- develop skills/knowledge
16
Q
disadvantages of delegation
A
- employee stress
- poor decision making
- employee resentment
17
Q
benefits of leadership
A
- achieving organisational goals
- management time
- increased employee motivation
- supporting change
- staff recruitment and retention
18
Q
motivation
A
a willingness to do something e.g. work
19
Q
maslows hierarchy of needs
A
- physiological needs
- safety needs
- social needs
- esteem needs
- self actualization needs
20
Q
physiological needs
A
need for food shelter and warmth e.g:
1. fair days wage
2. bonus payments
3. profit sharing schemes
21
Q
safety needs
A
the need to feel safe and secure e.g:
1. long term employment contracts
2. health insurance cover
3. safe working environment
22
Q
social needs
A
the need for friendship and love:
1. flexitime arrangements
2. work in teams
3. social events
23
Q
esteem needs
A
the need for status, respect, appreciation:
1. praise
2. job titles
3. office of their own
24
Q
self actualization needs
A
the need to achieve one’s full potential and be the best one can be:
1. career plan
2. development opportunities
3. empowerment
25
advantages of maslows
1. rewards (motivated by more than money)
2. changing employee needs
3. management positions
26
limitations of maslows
1. individual needs (assumes everyone has same needs)
2. self actualization (varied person to person)
3. value of needs (not all needs of equal value)
27
McGregor's theory X
negative. employees dislike work, avoid taking responsibility, lack ambition, motivated by money. autocratic style of leadership
28
implications of theory x
1. demotivated workforce
2. poor time management
3. high labour turnover
4. low quality goods and services
29
Theory Y
employees like work, willing to work hard, want additional duties and responsibility, ambitious, motivated by financial and non financial rewards. democratic or laissez faire style
30
implications of theory Y
1. motivated workforce
2. management time
3. low labour turnover
4. high quality goods and services
31
advantages of McGregor's theory
1. employee motivation
2. recruitment and selection
3. improved industrial relations
32
limitations of mcgregors theory
1. unrealistic
2. high staff turnover
3. less intrapreneurship
33
importance of motivation
1. improved productivity
2. less staff turnover
3. less absenteeism
4. better business rep.
5. less industrial relations conflict
34
communication
the exchange of information between two or more parties. The sender of the information uses words, images and/or sounds to turn an idea into a message to be received. the receiver then processes the message and takes action
35
formal communication
carried out through formal channels of communication
36
informal communication
info passed through informal network within organisation (grapevine)
37
internal communication
communication between two or more people within an organisation e.g. upward, horizontal, downward
38
chain of command
the path of authority along which instructions are passed - from top management down to subordinates
39
external communication
takes place between the business and external stakeholders
40
Principles of effective communication
1. accuracy (facts + up to date knowledge)
2. appropriate language (avoid jargon)
3. preparation (research topic + audience)
4. confidentiality (method should reflect confidentiality)
5. feedback (reduces likelihood of misunderstanding)
6. eliminate noise (background distractions)
7. suitability of medium (should suit message)
41
role of communication in business management (internal)
1. managers: com. between managers ensure they have necessary info - better decision making
2. employees: staff know their roles/responsibilities - reduces confusion + staff aware of standards
42
role of communication in business management (external)
1. consumers: about new/existing products - increases loyalty + boosts sales
2. investors: honest financial info increases trust + possible further investment
3. local community: sponsoring local events + including them in decisions regarding expansion
4. suppliers: to ensure correct amount of materials at right time - reduced disruption
43
verbal communication
the exchange of information and ideas in speech
44
advantages of verbal communication
1. fast communication
2. repeat the message
3. personal connection
4. powerful impact
5. instant feedback
6. messages can be explained
45
disadvantages of verbal communication
1. no record
2. not listening
3. lack of preparation
4. message length
46
written communication
involves using the written word to transfer information between people e.g. emails, letters, reports
47
advantages of written communication
1. permanent record
2. can be used as reference
3. speed (IT)
4. accurate/prepared in advance
48
disadvantages of written communication
1. slow feedback
2. lack of security/confidentiality
3. increased cost
4. delays decision making
49
visual communication
involves using images, graphs, photos, maps, and symbols to communicate messages
50
advantages of visual communication
1. easy to understand
2. easy to recall
3. aid other forms of communication
51
disadvantages of visual communication
1. expensive/time consuming to prepare info
2. cannot be used alone
3. over use can be distracting and lead to missing of key info
52
meetings
a gathering of at least two people to discuss a topic or topics with the purpose of making a decision on matters discussed
53
reasons to hold a meeting
-sharing info
-decision making
-problem solving
54
notice
an invitation for people to attend a meeting. informs them of date, time and venue
55
agenda
list of items to be discussed at the meeting. topics listed in the order they will be discussed
56
matters arising
the opportunity to discuss items arising from the previous meeting
57
AOB
any other business- gives people at the meeting the opportunity to bring up a topic they want to discuss that is not on the agenda
58
minutes
a record of the meeting. taken by the secretary of the meeting and provide a summary of what was discussed, the people present and what decisions were made
59
chairperson (meeting)
responsible for opening, running and closing a meeting. elected by the attendees of a meeting
60
roles of a chairperson (meeting)
-draws up notice/agenda
-opens meeting
-runs meeting
-calls for votes
-closes meeting
-casting vote in event of tie
61
quorum
the minimum amount of people needed present for a meeting to begin. if not reached, meeting postponed. prevents small number of people making decisions that affect entire org.
62
characteristics of a good chairperson (meeting)
unbiased, knowledgeable, good time management, good communicator
63
secretary (meeting)
responsible for organising the meeting (administratively)
64
role of the secretary (meeting)
-arranges venue
- sends notice and agenda to attendees
-takes minutes
-correspondence (paperwork)
-assists chairperson
65
characteristics of a good secretary (meeting)
organised, discreet, good at summarising
66
AGM
annual general meeting: held once a year, attended by directors and shareholders of a limited company
-shareholders elect BOD and appoint auditors
-SHs given chance to ask BOD about firms policies
67
EGM
extraordinary general meeting: meeting of BOD and SHs to discuss an urgent issue e.g. takeover bid, that cannot wait until the next AGM. no other matters are discussed
68
board meeting
attended by BOD and held at regular intervals, e.g. one month. discuss business performance + outline future plans
69
statutory meeting
must be held once in the company's life - first meeting of the company and SHs informed about business affairs of the firm
70
Ad Hoc meeting
takes place at short notice to discuss a matter that has arisen unexpectedly but needs to be resolved quickly
71
General meeting
held regularly between management and employees e.g. to discuss planning, sales forecasts and updates on business operations
72
standing order (meeting)
rules for the running of the meeting
73
point of order (meeting)
when an attendee draws attention to the fact that a standing order has been broken
74
proxy
a person who attends the meeting as a rep. of someone who cannot attend - votes in accordance with instructions given by the person
75
memo
a short written message used by a business for internal communication (memorandum). used mainly to remind people of items and events
76
business letter
formal method of communication, can be external or internal. used when:
-content is important
-written record is required
-complex instructions need to be given
*know how to write + format
77
reports
a formal written document used to present data and info to the people who requested it to be written e.g. market analysis report for sales manager. can be written for
-investigation
-information
-solution
-impact of a decision
-convince readers
78
forms of visual communication
- bar/pie chart
- pictogram (bar chart but with pictures)
-line graph (time trend graph)
-Gantt chart
-maps
79
factors to consider when choosing a method of communication
1. cost (most value at least price)
2. appropriate language/clarity for audience + visual aids if content is technical
3. urgent messages require faster methods
4. confidentiality e.g. encrypted emails for sensitive info
5. is a record required? e.g. formal record of feedback eliminates misunderstandings
80
barriers to effective communication
1. timing (insufficient time to process/respond) -> sender should not expect immediate feedback
2. language (jargon/too technical) -> use simple language
3. information overload (unconcise info can lead to main points being lost) -> keep info concise and relevant
4. not listening -> summarise + repeat main points
5. lack of trust (may not believe message) -> team building/training
6. outside noise
7. unclear organisational structure (i.e. message isn't passed directly to receiver
8. lack of feedback (queries unanswered + confusion -> build in feedback mechanism
81
advantages of effective communication
1. productivity (employees know exactly what they have to do/clear instructions)
2. industrial relations (no confusion over standards, issues can be resolved quickly)
3. customers have better experience doing business with firm
4. improved decision making
5. employee morale (clear instructions + listened to by management)
6. suppliers (maintain adequate level of supply)
82
ICT
information and communications technology: the use of computers and other electronic tech. to store, transfer, access and manipulate (STAM) info.
83
the internet
global network of computers that enables people to share and transfer data, text, pictures and videos instantly anywhere in the world (net or www)
84
advantages of the internet
1. fast communication
2. reduce costs e.g. by selling through its own website
3. improves decision making as quick access to info
4. improved productivity as quick access to info
5. advertising
85
disadvantages of the internet
1. hacking (may steal confidential info)
2. fake news/difficult to verify accuracy of info -> may lead to bad decisions
3. expensive to install equipment needed
86
email
enables messages to be sent electronically around the world
87
advantages of email
1. fast decision making
2. lower cost e.g. no cost of paper etc.
3. time saving e.g. send to multiple people at once
4. accessibility (can be sent any time) -> increased productivity
5. can be stored to keep record of info (proof of comm.)
88
disadvantages of email
1. viruses can damage firms computer system e.g. delete data
2. incorrect address e.g. loss of confidentiality
3. phishing (fake email claiming to be from legit business, sent to person to scam them for info e.g. bank details)
4. spam wastes time
89
phishing
an attempt to illegally gain access to passwords and usernames for credit cards and bank accounts with the intention of stealing money
90
EDI
computer to computer communication. enables businesses to communicate info such as orders, invoices and payments electronically rather than using paper methods. documents can be transferred without human intervention e.g. automatic message sent to supplier (JIT)
91
advantages of EDI
1. reduced cost (of labour)
2. limits human error
3. speed (transactions processed quickly)
4. stock control e.g. JIT ensures business does not carry too much stock -> reduces costs
92
disadvantages of EDI
1. expensive to install hardware/software + maintenance costs
2. only cost effective for businesses that buy and sell in large volumes
3. not always compatible (must have alternative systems for suppliers that don't use EDI)
4. industrial relations disputes e.g. over redundancies
93
cloud computing
use of remote servers, hosted on the internet, to store, manage, and process data. enables data to be accessed anywhere at any time, as long as the user has the necessary passwords e.g. icloud
94
advantages of cloud computing
1. less expensive than operating own server
2. global access
3. software updates carried out by server (no maintenance costs for business)
4. data security (data is backed up)
95
disadvantages of cloud computing
1. internet outages
2. security (info can be hacked)
3. cost (storage cost + service fees)
4. difficult to change service providers as CC firms use different platforms
96
video conferencing
enables people in different locations to participate in virtual face to face meetings where they can see and hear each other. e.g. skype
97
advantages of video conferencing
1. cost savings e.g. travel + accomodation
2. speed (organised quickly)
3. more regular meetings can be held due to cost savings
4. meetings conducted in real time from anywhere in the world
98
disadvantages of video conferencing
1. expensive to install/maintain equipment + training costs
2. technical problems can delay decision making
3. scheduling meetings between time zones can be difficult
4. not very personal and may take longer to build trust
99
social media
consists of computer programs and websites that enable people to create and share content such as messages, images and videos around the world e.g. instagram
100
advantages of social media
1. large audience
2. low cost (no sign up fee + easy to use)
3. can be used to gather consumer info e.g. likes, comments, polls
4. consumer loyalty (creates more personal relationship as they can interact)
101
disadvantages of social media
1. difficult to measure the effectiveness and monetary value of SM accounts
2. negative feedback damage firm's rep.
3. hacking + takes long time to rebuild following
4. time intensive
102
computer software applications
1. word processing e.g. word
2. spreadsheet e.g. excel
3. database e.g. MS access
4. presentation package e.g. powerpoint
5. desktop publishing (DTP) e.g. MS publisher
103
CAD
computer aided design -- revolutionised design process and easier for businesses to react quickly to customer needs. allows designs to be saved, changed, and reworked without starting from scratch. product designs can be sent abroad to be tweaked by local designers
104
ISDN
integrated services digital network: uses telephone lines to communicate, transmit and receive digital info e.g. file transfer, teleworking, video conferencing, email etc.
105
intranets and LANs
local area networks: allow employees within an org to communicate more efficiently, without paperwork
106
benefits of ICT for business
1. faster communication/decision making
2. better teamwork
3. cost savings e.g. selling online reduces cost of renting shop space and employing staff
4. staff morale (workplace tasks easier -> increased productivity)
5. improved quality (e.g. CAD -> reduces complaints + improves rep.)
107
challenges of ICT for business
1. security issues e.g. hacking (should backup/encrypt data)
2. system breakdown -> loss of productivity or sales e.g. site crashes
3. expensive to install/maintain ICT systems
4. industrial relations e.g. fear of redundancy
5. loss of human element e.g. automated checkouts
108
GDPR 2018
General data protection regulation 2018: EU-wide regulation that strengthens the rights of individuals and places more obligations in terms of data protection on orgs. that hold data
109
GDPR 2018 terms
-data subject (who data is about)
-personal data (any info relating to data subject e.g. name/address)
-data controller (the person in the firm who decides what data is collected and how it's processed)
-data processor (org. or person who processes the data on behalf of data controller)
-DPC
110
DPC
data protection commission: supervisory authority responsible for monitoring the application of the GDPR
111
rights of data subjects (GDPR)
1. right of access (obtain details on why and how their data is being processed by an org.)
2. copy of data (have/obtain a copy of data held on them. must be provided electronically within 1 month of req.)
3. correction of data (to have incorrect/incomplete data corrected)
4. erasure of data (to have data deleted if no legit. reason to keep it)
5. complain to DPC (if they believe there has been a breach of the GDPR)
112
responsibilities of data controllers
1. data collection (only necessary data)
2. provide copies
3. keep data secure e.g. encryption, backups, review security measures
4. report data breaches to DPC within 72 hours if it could risk rights and freedoms of DSs
5. appoint data protection officers (DPOs) - should be appointed in orgs. that hold large volumes of personal data e.g. banks, hospitals
113
functions of the DPC
1. monitors and enforces GDPR (order data controllers to provide copies/delete incorrect info)
2. promotes awareness of GDPR e.g. website/publishes materials e.g. infographics/guidelines
3. prohibits data transfer outside of ireland in certain circumstances
4. impose fines (up to 20mil or 4pc of annual turnover for serious breaches of GDPR)
5. data audits (investigate processes used by data processors and controllers. can enter firm's premises, speak to relevant staff and inspect/copy info)
