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Business As > 3.2.3 Mangement And Leadership > Flashcards

3.2.3 Mangement And Leadership Flashcards

1
Q

What is leadership

A

A relationship through which one person influences the behaviour or actions of other people

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2
Q

What is management

A

Planning, organising, directing and controlling all or part of a business

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3
Q

What is a co-ordinate

A

The management task of ensuring that staff carrying out different parts of a project are all working at the same time and quality

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4
Q

What is a subordinates

A

Those working for a manager and therefore under his/ her command

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5
Q

What is traditional leadership

A

Decision making
Command and control

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6
Q

What is modern leadership

A

Shaping core values and culture
Building effective teams
Inspiring others
Creating a vison

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7
Q

What are the factors affecting leadership style

A

Personal values
Managers experience
Confidence in subordinates
Feelings of security
Nature of problems
Type of organisation
Effectiveness of teams and groups
Pressure

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8
Q

Why is changing organised structure important in business

A

Flatter + greater delegation
Teamwork + focus on quality assurance
Coaching, support and empowerment
-

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9
Q

Why is rapid change important in business leadership

A

Change is becoming a constant feature of business life
Soft skills of leadership and management increasingly important

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10
Q

What is a strategy

A

Long term

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11
Q

What is a tactic

A

Short-term

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12
Q

What are leader quality’s

A

Inspire people
Build relationships
Take risks
Have followers

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13
Q

What are managers qualities

A

Enact the plan
Use their authority
Manage risks
Have subordinates

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14
Q

What is a leadership style

A

Way that functions of leadership are carried out, the way that a leader behaves

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15
Q

Why is modern business leadership moving away from theory x styles

A

Changes in society values
Better educated work force
Soft HR focus
Changing workplace organisation
Greater workplace legislation
Pressure for greater employee involvement

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16
Q

What are the 4 labels on the bottom of the Tannenbaum and schmidt continuum of leadership

A

Tell
Sell
Consult
Joins

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17
Q
A
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18
Q

Managers roles

A

-Set objectives for department
-Analyse and interpret data
-make decisions
-review effectiveness of decions
-lead staff

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19
Q

What does managing mean

A

Telling people what to do and organise resources to get a job done

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20
Q

What does leading mean

A

Motivating people and inspiring them to do things

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21
Q

What is authoritarian management

A

Leader makes the decisons on their own and say how objectives going to be achieved

-useful lots of unskilled staff
-lots of supervision and monitoring

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22
Q

Disadvantage of authoritarian management

A

Demotivate able and intelligent workers

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23
Q

What is paternalistic management

A

Leader consults the workers before making a decisions and explains decisions are in their interest

-positive motivator

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24
Q

What is democratic management

A

Leader encourages workforce to participate in decision making process

-delegate responsibility and listen to advice

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25
Advantage of democratic management
Shows leader has confidence in the workforce - increases employee motivation
26
Laissez faire management
Weak form of leadership - rarely interfere
27
Internal factors influence management and leadership styles
-urgent tasks needing different leadership from routine tasks -large unskilled workforce suits authoritarian leadership -small educated workforce - democratic
28
External factors influence management and leadership styles
-recession - business need strong leadership to guide through tough time Authoritarian/ paternalistic- when economy do not need strong leadership Increased competition- democratic
29
What is the tells part of the tannenbaum and Schmidt continuum
Authoritarian Zero involvement in decision making Not trusted with decision
30
What is the sells part of the tannenbaum and Schmidt continuum
Manager makes decisions Workforce allowed to ask questions but no influence
31
What is the suggests part of the tannenbaum and Schmidt continuum
Decision is outlined to workforce and allowed to discuss and ask questions Feel like their options are considered
32
What is the consults part of the tannenbaum and Schmidt continuum
Manager proposes a decision and invites decisions to modify etc
33
What is the joins part of the tannenbaum and Schmidt continuum
Manager proposes problem and workforce discuss solutions Manager makes final decision
34
What two ways can decision making be
Scientific Intuitive
35
What is scientific decision making
Based on data and uses logical, rational approach to decision making
36
Advantages of scientific decision making
-reduces risk of making expensive mistakes -logical and structured approach
37
Disadvantages of scientific decision making
Costly Time consuming Collect and analyse data Takes away human element- less creative
38
What is intuitive decision making
Making decisions on the basis of experience, feelings, and accumulated judgement- hunch / gut instinct
39
Advantages of intuitive decision making
Stay competitive Don’t have to spend time collecting data
40
Disadvantages of intuitive decision making
People can make mistakes
41
Factors influencing decision making
Risk Reward Uncertainty
42
Risk factors that influence a business decision making
All business have to take some risks Some high risks Scientific decision making can reduce risk
43
Reward factors that influence decision making
Managers expect deceisons to bring rewards Can be financial or non financial
44
Uncertainty- factors that influence decision making
All business decisions involve uncertainty - no one knows what outcome decision will be
45
What is opportunity cost
the opportunity cost of a choice is the value of the best alternative
46
Influence of mission on decision making
All decisions will take mission into account
47
Influences of objectives on decision making
Medium to long term targets that help a business achieve mission
48
Influence on ethics on decision making
Moral and social values Eg environmental responsibility
49
What is decision tree analysis
A diagram and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty
50
What is probability (decision trees)
Likelihood that a particular event will occur - decimal in decision trees
51
What is expected value of outcome
Probability of outcome occurring x pay off
52
What is net gain (decision trees)
Financial gain after initial costs of decision subtracted = EV- intial costs
53
Expected value formula
(Probability 1 x outcome 1) X (Probability 2 x outcome 2)
54
Advantages of decion trees
-Work out and think of probability and pay off each outcome - nice visual potential outcomes Allowing comparing opinion
55
Disadvantages of decision trees
-Qualitative - based on numbers -ignore qualitative - employee opinions Hard to predict accurately Outcome could be different than what the DT suggests
56
What are stake holders
Any person or group that has interest in the business
57
Internal stakeholders
People inside the business Affected by business
58
Examples of internal stakeholders
Employees , managers, owners, shareholders
59
What are external stakeholders
People outside the business Affected by decisions
60
Examples of external stakeholders
Customers Suppliers Govt
61
What is stake holder mapping
Allowed managers to asses how to deal with conflicting stakeholder objectives
62
What do stakeholder maps do
Help decide to best mange stakeholders Determine how communication is needed
63
Stakeholders with high level power and interest
Managed closely Satisfaction is vital More effort required
64
Stakeholders with little power and little interest
Require monitoring but less important
65

Business As (25 decks)

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