2.3 - Leadership and Management + Ansoff Matrix Flashcards

1
Q

Manager

A

A person who organizes the resources within an organization in order to achieve the objectives of the organization

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2
Q

Leader

A
  • A person who has a vision for the future of the organization and inspires others to follow them
  • Inspiring others
  • A person may act as both a leader and a manager
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3
Q

What do managers do?

A

1) Planning

  • Setting objectives
  • E.g. achieving a top 5 place in the league

2) Organizing

  • Ensuring resources are in the right place
  • E.g. hiring players, staff and creating training schedules

3) Commanding

  • Assigning tasks to employees and making sure they do this
  • E.g. assigning trainers to training, assessing training performance

4) Coordinating

  • Making sure everyone is working towards the same goal
  • E.g. team building, resolving conflicts

5) Controlling

  • Measuring performance and making necessary adjustments
  • E.f. assessing player performance, changing training routine
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4
Q

What do leaders do?

A
  • Creates a vision for the organization
  • Is a role model
  • Inspires and motivates employees
  • Builds the culture required
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5
Q

Scientific Management

A
  • Data is collected and analyzed and a decision is made based on this
  • Logical, rational, and data-based
  • But data may be costly, biased, or unavailable
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6
Q

Intuitive Management

A
  • Decisions are based on intuition or gut feeling

Good when:

  • Data is not available or potentially biased
  • When data may not work (e.g. assessing character or the result of a new HR policy)
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7
Q

Autocratic

A
  • Leaders take decisions on their own without input from others and then announce the decision to employees
  • Centralized decision making
  • E.g. Armed forces, emergency forces
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8
Q

Pros and Cons of Autocratic

A

Suitable when:

  • Quick decisions need to be made
  • When employees are unskilled

Impact:

  • Employees become dependent on leaders and don’t make decisions
  • Low morale and high staff turnover
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9
Q

Paternalistic

A

Similar to autocratic, but leaders listen to employees and make decisions in their best interest, but still make the final decisions

Impact:

  • Higher morale, loyalty, motivation
  • Still no participation in decision-making
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10
Q

Democratic

A
  • Employees participate in decision making and decisions are made based on what the majority decides
  • Could be voting or informal discussions

Impact:

  • Higher morale, empowered, committed to the decision
  • But slow decision-making, leaders, and employees need certain skills
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11
Q

Laissez-faire

A
  • Leaders trust and allow employees to make decisions on their own
  • Decision-making is done mostly by employees with little input from management

Suitable when:

  • When teams need freedom or need to be creative
  • Employees are highly skilled and self-motivated
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12
Q

Situational

A
  • When a leader adjusts their leadership style to suit the situation or task

Impact:

  • Flexibility and suitability for each employee
  • Can be confusing
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13
Q

Pros and Cons of Autocratic

A

Pros:

  • Quicker decision-making and implementation
  • Clear hierarchy - employees know who’s in charge
  • Consistent goals and direction

Cons:

  • Reduced staff morale as employees and used to having input in decision
  • Higher likelihood of employee/management conflict
  • Dependency on the decision of one person/team
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14
Q

Pros and Cons of Laissez-faire

A

Pros:

  • Empowered and more motivated employees
  • Higher levels of creativity as employees take the initiative
  • More skilled employees

Cons:

  • Some employees might become less productive without oversight
  • Management will know less about what’s going on
  • Less standardized output
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15
Q

Ansoff Matrix

A

A matrix showing different strategies in which a business can grow

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16
Q

Market Penetration

A
  • Sell existing products in existing market
  • Growth strategy is to sell more of existing products - i.e. increase market share
  • Lowest risk
17
Q

Market Development

A
  • Selling existing products in new markets
  • Medium-risk growth strategy
  • New consumers - e.g. A chewing gum business targeting smokers quitting
18
Q

Product Development

A
  • Sell new products in existing markets
  • Any extension strategies
  • Medium risk growth strategy
19
Q

Diversification (Related Diversification vs Unrelated Diversification)

A
  • Selling new products in new markets
  • Related Diversification - E.g. Amazon’s Cloud business (AWS)
  • Unrelated Diversification - E.g. an online streaming business launching a new frozen pizza
  • High risk growth strategy
20
Q

Pros and Cons of Ansoff Matrix

A

Pros:

  • Allows manager to see all decisions available
  • Can take risk into account - E.g. Market Penetration - Low risk

Cons:

  • Only two choices
  • Does not give specifics