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a level business > 3.2 leadership > Flashcards

3.2 leadership Flashcards

1
Q

the role of managers

A

planning
organising
controlling
directing

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2
Q

planning

A

setting targets
estimating resources needed
budgeting
forecasting

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3
Q

organising

A

coordinating teams
allocating resources
giving instructions to subordinates

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4
Q

directing

A

giving guidance and instruction
motivating employees
delegating authority

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5
Q

controlling

A

reporting on performance eg financial reporting
monitoring employee performance eg conducting appraisals
enforcing company policy and rules
monitoring targets and budgets

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6
Q

two theories involved in management and leadership

A

trait theory
behavioural theory

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7
Q

trait theory

A

the belief that leaders and managers hold certain traits that distinguish them from other people
there is disagreement about the exact traits that constitute a succesfull leader
one argument against this theory is that successful leaders have been found to possess very different traits from one another

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8
Q

behavioural theory

A

the behavioural theory of leadership suggests that there is an appropriate style of management or leadership determined by the context, situation and nature of the task
there are a number of theories that explore behavioural management and consider different styles based on a number of different factors
eg task vs relationship styles (the blake mouton grid) or the extent to which a manager tells employees or listens to their opinions (the tannenbaum-schmidt continuum)

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9
Q

what is the blake and moulton grid

A

identifies a number of approaches to leadership based on the extent to which a manager is focused on their concern for production and their concern for people

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10
Q

what are the 4 categories on the blake moulton grid

A

impoverished
country club
team leader
produce to perish

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11
Q

what goes on the x axis of a blake moulton grid and what goes on the y axis

A

x= concern for production
y= concern for people

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12
Q

where is impoverished on the blake moulton grid

A

low concern for people
low concern for production
(bottom left)

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13
Q

where is country club on the blake moulton grid

A

low concern for production
high concern for people
(top left)

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14
Q

where is team leader on the blake moulton grid

A

high concern for production
high concern for people
(top right)

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15
Q

where is produce to perish on the blake moulton grid

A

high concern for production
low concern for people

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16
Q

impoverished

A

perhaps focused on self and not leading the organisation
dissatisfcation and disorganisation
an ineffective manager

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17
Q

country club

A

a relaxed working environment
manager is concerned with relationships and motivation of employees
task may not get done

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18
Q

team leader

A

high focus on both
in theory this should he highly successful as the employees needs should he aligned to those of the organisation
employees feel involved and have a stake in the success of the business

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19
Q

produce or perish

A

authoritatrian
driven by targets and getting the task done
cares little for well-being or feelings of employees

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20
Q

what can the blake moulton grid be used to do

A

help managers reflect on their own practice and identify strategies to improve their management/leadership skills

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21
Q

what is the tannenbaum schmidt continuum

A

shows where a managers approach lies on a continuum ranging from the manager imposing strict authority to one extreme, through to employees having full freedom to act as they choose at the other extreme

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22
Q

what can the tannenbaum schmidt continuum be used for

A

to make choices about which approach to adopt, but no advice is given on how the approach should be chosen based on the circumstances

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23
Q

stages on the tannebaum schmidt continuum

A

(use of authority by leader) ( autocratic boss-centred leadership)
tells
sells
suggests
consults
joins
delegates
abdicates
(area of freedom by subordinates) ( empowered subordinate-centred leadership)

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24
Q

what is seen on the far left of the tannebaum schmidt model

A

authoritarian leader top down decisions

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25
what is seen on the middle of the tannebaum schmidt continuum
leader gains ideas and opinions from team before making the decision
26
what is there on the middle-right of the tannenbaum schmidt continuum
ideas and opinionns valued by leader and decisions made as ateam
27
what is seen on the far right of the tannebaum schmidt continuum
laissez-faire leadership style
28
different leadership styles
auotocratic (auothoritarian) democratic laissez-faire
29
advantages of autocratic (authoritarian) leadership
focused on getting the task done high levels of control suitable for unskilled workforce speeds up decision-making process- important in times of crisis suitable for implementing a clear vision held by the leader
30
disadvantages of autocratic (authoritarian) leadership
can lead to low levels of ,otivation if employees dont feel respected or valued no opportunity for employees to be involved in decision making no opportunity to collect ideas and opinions of the workforce that might be valuable employees might not feel as though they have a stake in the business
31
advantages of democratic leadership style
develops a team spirit- more opportunity for employees to 'buy in' to the task if they feel they have had a say allows a manager to collect ideas and opinions from the whole workforce
32
disadvantages of democratic leadership style
decision making can take a long time when done by committee employees may not see the 'bigger picture' and vote for decisions that benefit them
33
advantages of laissez-faire leadership
allows employees autonomy to make their own decisions often leading to higher levels of creativity and motivation amongst workers
34
disadvantages of laissez-faire leadership style
lack of control over the workforce- deadlines and targets might be missed tasks may not be coordinated very well
35
what factors should you take into account when trying to identify the best approach to management/leadership
labour force nature of task timescale personality and tradition
36
how are decisions made
on both quantitative and qualitative information use both scientific techniques (data, logic, rationale) and the intuition of the manager (experience and hunches)
37
what is the decision making process
set objectives gathering information choosing the course of action implementation review
38
how is gatheuing info involved in decision making
to make the most appropriate decision factors such as risk, reward and uncertainty will be taken into account
39
how does choosing the course of action affect the decision making process
process is key if decisions are to be made scientifically however managers are just as likely to use their own experience and intuition a decision might be strategic or tactical
40
how is review involved in the decision making process
a range of techniques might be used to evaluate the success of a decision or porject eg financial ratios for the triple bottom line
41
4 key decision making factors
risk reward uncertainty opportunity cost
42
risk
the chance of an occuring misfortune or loss risk is calculatrd by multiplying the extent of the impact by the probability of its occurence in business risk generally refers to financial loss
43
reward
generally translates into greater revenue and profit sometimes a risk might be worth if taking the reward is substantial eg the first to enter a new market or secure a patent on a new product
44
uncertainty
very little is certain in business managers have to question the reliability of the information (scientific or hunches) that a decision is based upon
45
opportunity cost
the next best opportunity forfeited and all things remaining equal (ceteris paribus) managers must always make decisions to gain the best returns fron the resources they have available
46
scientific decision making (data)
decisions based on data such as financial forecasts or using business tools such as breakeven analysis or investment appraisal
47
intution or hunch decision making
decision based on experience and 'gut feeling' without havig supporting data
48
advantages of scientific decision making
data can help reduce the risk in decision making and help identify the likely outcome data can help compare alternative options
49
disadvantages of scientific decision making
sometimes data can be hard to collect or very expensive to collect especially for small businesses sometimes data is nit available out of date or unreliable
50
advantages of decisions based on experience
intuition might come from the experience of the manager and this is useful when making qualitative decisions such as the charachter of a new employee or the potential success of a new marketing campaign or brand name
51
disadvantages of decisions made based on experience
without evidence in the form of data decisions based on intution can be high risk
52
decision trees
a model that represents the likely outcomes for a business of a number of courses of action showing the financial consequences of each
53
benefits of decision trees
clarifies possible courses of action adds financial data to decisions makes managers account for risk
54
limitations of decision trees
probabilities are often estimated does not consider qualitative information does not take into account dynamic nature of business
55
what factors influence decision making
the objectives and mission of the business ethics level of risk involved the external environment including competition resource constraints
56
how do ethics influence decision making
using a 'moral compass' to guide decisions
57
how does the level of risk involved influence decision making
some managers and businesses are more risk adverse than others
58
how does the external environment including competition influence decision making
most decision making models dont take into account these factors that are constantly changing
59
how does resource constraints influence decision making
a business can only make decisions if they have the resources available (labour, capital, knowledge) and this is where opportunity cost comes in
60
what are stakeholders
groups or individuals who have an interest in a busines
61
internal stakeholders
employees managers shareholders
62
external stakeholders
suppliers customers local community government agencies
63
interests of employees and managers
good income job security safe working conditions opportunity for development/promotion meet their tragets
64
interests of shareholders
return on investment increased value of shares ethical business practices growth of the company
65
interests of stakeholders
regular trade fair prices paid on time
66
interests of customers
reliable products good service value for money clear and fair pricing
67
interests of local community
employment investment in local area no pollution
68
interests of government agencies
abide by legislation and rules fair and open trade employment opportunities tax
69
what is the concept of managing stakeholder expectations closely linked to
social responsibility
70
how does meeting the needs of stakeholders encourage ethical practices
by reducing the negative impact of a business' decisions on a third party
71
disadvantages of meeting stakeholders needs
expensive time consuming can compromise profitabilility in the short term
72
what major conflict do business have to do with stakeholders
focusing on the needs of shareholders or the wider stakeholder groups
73
what sis stakeholder conflict
sometimes stakeholder interests are aligned but usually satisfying one set of needs can lead to conflict elsewhere nusinesses should consider why conflicts might exist and what the business could do to resolve these conflicts
74
what is a stakeholder map
a tool to assess the interest and power of stakeholders to make decisions about how to manage them
75
what is on the x and y axis of a stakeholder map
x= interest of stakeholders y= influence/power of stakeholders
76
where s 'least important c' on a stakeholder map
low interest of stakeholders low influenve/power of stakeholders bottom left
77
where is 'meet their needs A' on a stakeholder map
low interest of stakeholders high influence/power of stakeholders top left
78
where is 'key player B ' on a stakeholder map
high interest of stakeholders high influence/power of stakeholders top right
79
what is 'keep informed D' on a stakeholder map
high interest of stakeholders low influence/power of stakeholders bottom right
80
meet their needs A
high power but low interest may be key shareholders who are only interested in return on investment satisfy needs but try to increase their interestt and involvement in the business
81
Key player B
may be key customers who account for a significant percentage of sales keep them happy, consult and involve them in key decisionns
82
least important C
minimal effort make sure information is available to this group through newsletter or website
83
keep informed D
perhaps local residents who are concerned with the business actions communicate key decisions only possibly consult on low impact decisions
84
how are stakeholder maps useful
useful decision making tools to generate discussion and give structure to decision making however they dont provide businesses with clear solutions on how to manage stakeholders
85
how can the likelehood of stakeholder conflict be reduced
through effective communication and in some circumstances consultation
86
what are the communication strategies used ranging from high power/high interest to low power/low interest
partnership participation consultation 'push' communication 'pull' communication
87
partnership
decisions taken jointly implement aactions together shared responsibility
88
participation
extensive two ways communication given responsibility for certain decisions
89
consultation
collect views/opinions share ideas as proposals
90
'push' communication
inform one way communications emails newsletters mailshots
91
'pull' communication
information available for stakeholders if they choose to access eg website
92
what are internal factors that influence stakeholder relationships
management and leadership objectives size/ownership
93
external factors that influence stakeholder relationships
market conditions stakeholder power government policy
94
how does management and leadership influence stakeholder relationships
differing leadership styles will determine how managers view employees eg the Blake and Moulton grid
95
how does objectives influence stakeholder relationships
profit objectives will be more aligned to shareholder interests growth obectives may be more aligned with employees interests
96
how does size/ownership influence stakeholder relationships
a sole trader will not have pressures of meeting shareholder expectations and may not have as big an impact on the local community
97
how does market conditions influence stakeholder relationships
demand and the competitiveness of a market will change the piroirities of a business
98
how does government policy influence stakeholder relationships
a business will have to meet its legal requirements no matter how this impacts its stakeholders eg new employment legislation
99

a level business (10 decks)

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