3.2 managers, decision making etc.

Question 1

5 roles of a manager

Answer 1

planning, organising, staffing, leading, controlling.

Question 2

list the different leadership styles

Answer 2

autocratic, democratic, laissez faire, transformational.

Question 3

define scientific decision making with example.

Answer 3

making decisions using data such as decision tree.

Question 4

intuitive decision making definition.

Answer 4

using gut instinct to make decisions.

Question 5

key influences that could influence decision making.

Answer 5

personal factors, organisational, social, environmental, behavioural.

Question 6

3 different influences on the business relationship with stakeholders.

Answer 6

decisions, aims, sales.

Question 7

theory x

Answer 7

autocratic, in charge classic boss

Question 8

theory y

Answer 8

paternalistic leadership, manager still makes the decisions but involves the employees

Question 9

how to calculate emv

Answer 9

probability x predicted return and add them together for each branch of the tree