Ch 2 Internal Environment Of Large Scale Organisations- Outcome 2 Pt 2 Flashcards
Audit
An independent check of the accuracy of financial records and accounting procedures
Corporate code of conduct
Set of ethical standards for managers and employees to uphold
Social responsibility
The obligations a business has over and above its legal responsibilities to the wellbeing of employees, customers, shareholders, the community and the environment
Social report
Outlines what an organisation has done and is doing with regard to social issues
Ethical management
Refers to the process of abiding by moral standards and doing the right thing in the interests of all stakeholders
Management style
Refers to the behaviour and attitude of the manager
Autocratic management style
Where the manager tells staff what decisions have been made
Persuasive management style
The manager attempts to sell made decisions
Consultative management style
Where the manager consults employees before making decisions
Participative management style
Where the manager unites with staff to make decisions together
Laissez-Faire management style
Where the employees assume total responsibility for, and control of, workplace operations.
Communication
The ability to transfer information from a sender to a receiver, and to listen to feedback
Delegation
The transfer of authority and responsibility from a manager to an employee to carry out specific activities
Negotiation
A skill that involves the ability to resolve a dispute or to produce agreement on a course of action
Empower
To fully include employees in the decision-making process, provide them with autonomy, and give them the necessary trust, training and development and reward to enable them to work as a team.
Team/group dynamics
The interaction of individuals within teams/groups
Problem solving
Identifying an issue and then implementing strategies to correct an unworkable situation
Technical skills
The ability to perform tasks in a specialised field
Time management
Involves the ability to prioritise tasks, set deadlines, review progress and delegate
Stress management
Involves the ability to manage the levels of stress that develop in employees
Emotional intelligence
The skill of identifying, assessing and managing the emotions of self and others
What are the three qualities that effective leaders display?
- Interpersonal- liaising with others.
- Informational- collecting and communicating data.
- Decision making- identifying options
What are the 4 management skills that are most useful for the basic managing of a business?
- Communication
- Delegation
- Negotiation
- Team building
What are the 5 more interpersonal management skills?
- Problem solving
- Technical skills
- Time management
- Stress Management
- Emotional intelligence
What is the problem solving process? Think IGDACE
- Identify the problem and causes
- Gather relevant information
- Develop alternative solutions
- Analyse the alternatives
- Choose one alternative and implement it
- Evaluate the solution
What is the relationship between styles and skills?
The type of management style determines the range and degree of skills used
What are the 5 management styles?
- Autocratic
- Persuasive
- Consultative
- Participative
- Laissez-Faire
What are some ethical issues?
- Fairness and honesty
- Respect for people
- Conflict of interests
- Financial management
How can ethical behaviour be encouraged in an organisation?
By devising a corporate code of conduct and providing adequate training, policies and procedures to uphold the codes
What are audits used for?
~Stopping unnecessary waste
~To efficiently use resources
~Guard against fund misuse
~ Prevent fraud & theft
What are the two main goals an organisation has in relation to socially responsible management?
- Expand the business
2. Provide for the greater good of society
What is a social report used for?
~To asses progress towards fulfilling social responsibility obligations.
~To measure success or failure of the organisation in fulfilling social responsibilities.
What are the details of a social report?
It contains information of what the organisation has done and will continue to do to address relevant social and environmental issues.
What is the Global Reporting Initiative (GRI)?
It is an organisation which creates and improves sustainability reporting framework that businesses follow.
