2nd Flashcards
Do LTD have control over their share price?
Yes
What determines share price?
Supply and Demand.
Factors that influence demand and supply of shares, name 5.
Performance of the company, speculation and rumours, current share price, interest rates, the economy.
. 4 market conditions that affect costs and demand. Explain every factor
Political factors- taxes can affect demand. Labour supply- when unemployment is high, businesses can hire staff easily and pay low wages. Income and economics factors- recession decreases demand. Change in income can affect demand depending on the PED.Seasonal demand and supply- there is a change in demand and supply throughout the year, this is called seasonal demand.
What is demographic change? Give examples
Change in the structure of the population e.g race, sex, gender, age.
What is autocratic leadership style?
Management style when a leader makes all decisions on their own.
What is paternalistic leadership style?
A softer form of autocratic style.
3 Examples when managers may switch to autocratic leadership style.
When hit by recession as team needs guidance. Urgent tasks such as unexpected high order. Unskilled workforce.
What is the Tannenbaum schmidt continuum?
Shows the relationship between the level of authority and freedom given by a manager to their employees.
What are the 5 stages of the tannenbaum schmidt continuum and explain each stage.
TELL - Autocratic management style manager makes all decisions. SELL- Manager explains his decision to employees. DELEGATES- allows subordinates to function within limits.
What does the blake mouton grid show?
How much managers care about employees compared to production.
What are the 5 different sections on the blake mouton grid and explain them
Country Club Style - high concern for production and low concern about production. Impoverished style- Low concern for both employees and production. Team Style- high concern for production and people. Produce or perish- high concern for production and low concern for people. Middle of the road- average concern for both people and production.
. List the 6 stages of making a scientific decision.
Set objectives, Collect Data, Analyse Data, Make Decision, Implement Decision, Review Decision.
One Advantage and two disadvantages of using a scientific method to make decisions.
Advantages- Reduces risk of making expensive mistakes. Disadvantages- Time consuming and costly. Less creativity and unique compared to a decision based on intuition. Also need up to date and reliable data.
What is a Intuitive decision?
A decision made on gut instinct.
