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Business (year 1) > 2.1 management, leadership + decision making > Flashcards

2.1 management, leadership + decision making Flashcards

1
Q

define management

A

planning, organising, directing and controlling all or part of a business enterprise.

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2
Q

define leadership

A

ruling, guiding, and inspiring other people within an organisation in pursuit of agreed objectives.

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3
Q

what are the 4 basic functions of management?

A
  1. planning
  2. organising
  3. directing
  4. controlling
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4
Q

features of planning

A
  • looking into the future
  • setting objectives and targets for the business for their area
  • conducting analysis to gather forecasts of key information such as: costs / revenues, incomes, competitors and prices
  • drawing up plans for functional areas within the business
    (marketing, finance, HR and operations)
  • estimating the likely resource needs for the proposed plan
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5
Q

features of organisation

A

Management must assemble the resources that they need to carry out the actions set out as part of the planning process

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6
Q

features of directing

A

Motivating and communicating with other employees to oversee their behaviour and ensure everyone is working towards the same goals.

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7
Q

features of controlling

A
  • setting standards using company’s objectives
  • reviewing and reporting performance.
    This enables managers to identify areas of weakness and implement corrective action. Can be done by:
    1. Financial reports - are they on track to make the targeting level of profit?
    2. Employee performance - are the workers productive?
    3. Social performance - how ethical is the business?
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8
Q

Mintzberg’s roles of management (1990)

A
  • He set out the 10 roles performed by managers within businesses -> argued that management is not about functions but about what managers do.
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9
Q

what is interpersonal management?

A

involves managing through other people

  1. Figurehead
  2. Leader
  3. Liaison
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10
Q

what is informational management?

A

involves processing information

  1. Monitor
  2. Disseminator
  3. Spokesperson
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11
Q

what is decisional management?

A

uses information to make decisions

  1. Entrepreneur
  2. Disturbance handler
  3. Resource allocator
  4. Negotiator
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12
Q

what is a Figurehead? (interpersonal)

A
  • represent their colleagues
  • considered to have authority
  • carry out social, ceremonial and legal responsibilities
  • inspiring
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13
Q

what is a Leader? (interpersonal)

A
  • creates and maintains an effective working environment
  • motivates and develops more junior employees
  • manage performance and responsibilities of team members
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14
Q

what is a Liaison? (interpersonal)

A
  • communicate with internal and external contacts

- need to network effectively to gather information

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15
Q

what is a Monitor? (informational)

A
  • search for internal and external information relevant to the business
  • looking for changes in business environment
  • always look after their team’s performance and welfare
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16
Q

what is a Disseminator? (informational)

A
  • a central communication role

- passing on valuable information to others in the organisation

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17
Q

what is a Spokesperson? (informational)

A
  • represent and speak for their organisation

- transmit information about the organisation and its goals to the people outside it

18
Q

what is an Entrepreneur? (decisional)

A

plans and initiates changes in the business

19
Q

what is a Disturbance Handler? (decisional)

A
  • deals with unexpected crises

- try to control and solve disputes

20
Q

what is a Resource Allocator? (decisional)

A
  • decides the most effective use of an organisation’s resources
  • finance, staff and capital equipment
21
Q

what is a Negotiator? (decisional)

A
  • engage in negotiations inside and outside the business
22
Q

what are the 4 different leadership styles?

A
  • Authoritarianism
  • Democratic
  • Laissez-faire
  • Paternalistic
23
Q

features of autocratic:

A

-> Leader makes decisions without reference to anyone else
-> High degree of dependency on the leader
-> Can create de-motivation and alienation
of staff
-> May be valuable in some types of business where decisions need to be made quickly and decisively
-> Tells you what you are to do

24
Q

features of democratic:

A
  • > May help motivation and involvement
  • > Workers feel ownership of the firm and its ideas
  • > Improves the sharing of ideas and experiences within the business
  • > Can delay decision making
  • > Decision making from different perspectives
25
Q

features of laissez-faire:

A
  • > Let it be’ – the leadership responsibilities are shared by all
  • > Can be very useful in businesses where creative ideas are important
  • > Can be highly motivational, as people have control over their working life
  • > Can make coordination and decision making time-consuming and lacking in overall direction
  • > Relies on good teamwork
  • > Relies on good interpersonal relations
  • > Gives workers autonomy (freedom)
26
Q

features of paternalistic:

A
  • > Leader acts as a ‘father figure’
  • > Makes decision but may consult
  • > Believes in the need to support staff
  • > Dominant figure that decides what’s best for employees
27
Q

Leadership style is influenced by:

A
  • > type of labour force
  • > nature of task and timescale
  • > personality of leader
28
Q

TRAIT THEORY:

A

Certain personality traits differentiate a good leader from others.

29
Q

BEHAVIOUR THEORY

A
  • Focuses on how an individual behaves in a managerial role.
  • Tries to identify the correct way to act instead of personality traits
  1. Consideration- wellbeing of workers
  2. Initiating structure- defining/ planning work- getting the job done
30
Q

what are the 2 types of managers?

A

theory:
X - average worker is lazy/ dislikes work- workers need to be controlled/ directed- centralised organisation + exercise of authority
Y - most people enjoy work, workers will take responsibility + organise themselves, decision making can be delegated

31
Q

Blake Mouton grid (see image)- what are the 5 sectors + x/y axis?

A

Y axis- concern for people
X axis- concern for results/ production

  1. country club management
  2. team management
  3. middle-of-the-road management
  4. impoverished management
  5. produce or perish management
32
Q

Impoverished management

A

Laissez-faire style; minimal effort on management; hoping to avoid blame for errors.
low concern for people/ results

33
Q

Country club management

A

focuses on creating safe, comfortable working environment; minimal conflict
high concern for people
low concern for results

34
Q

produce-or-perish management

A

autocratic style. workers have to complete task, nothing else.
low concern for people
high concern for results

35
Q

Team management

A

staff closely involved in decision making + feel valued

high concern for people + results

36
Q

middle-of-the-road management

A

compromises made to achieve acceptable performance; thought to be less effective leadership style
mid concern for people + results

37
Q

what is productivity?

A

Measuring how many inputs are needed to create 1 unit of output
A business is more productive when they use less inputs to produce 1 unit of output

38
Q

The Tannenbaum-Schmidt Continuum (see graph)

A

Shows where a manager’s approach to decision making lies.
It runs from the manager making decisions and just announcing it to the company

Tell- Sell- Consult- Joins

39
Q

+ves and -ves to management styles

A

Autocratic: Decisions are made quickly and decisively BUT Can create de-motivation and alienation
Democratic: May help motivation and involvement BUT Can delay decision making
Paternalistic: Believes in the need to support staff BUT Leader may ignore suggestions
Laissez Faire: Allows creative freedom BUT Can be time-consuming and lacking in overall direction

40
Q

what is delegation?

A

Passing decision making responsibility down to junior employees

Business (year 1) (25 decks)

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