Characteristics Of An Entrepreneur Flashcards
0
Q
Non-profitable motivators
A
Be own boss Prove yourself Employment Love of business Independent Lifestyle choice Ethical stance
1
Q
Six main characterises
A
Hard working Resilient Creative Self confident Calculated risk taking
2
Q
Profitable motivators
A
Satificer- wants a good quality lifestyle
Profit maximisers- want to make as much money as possible
3
Q
Autocratic leadership
Ads - disads
A
- decisions without consulting
- ruthless
- none way communication
- ads, fast decisions made
- disads, subordinates not heard. Discouraged to take initiative
4
Q
Democratic
Ads- Disads
A
- guide not dictate
- consult widely encourage everyone to participate
- Ads. New ideas, motivates employees to work harder as hierarchy respect them
- disads. Takes longer, harder to disappoint subordinates as they become friends
5
Q
Paternalistic and consultative
A
C- ask for opinions and make decisions on this
P- fatherly manner, meeting there needs and not giving responibilities
6
Q
Laissez-faire
Ads and Disads
A
-leaves decision making to subordinates
-useful in big companies with lots of sectors
Ads- empowers employees
Disads- not suitable for all industry types
7
Q
Leadership qualities
A
Competence (good at what they do) Analysis and synthetic skills (analyse and act) Social skills Communication skills Self belief Energy and driv
8
Q
Who created theory X & Y managers?
A
Mcgregor
9
Q
Theory X
A
- average person dislikes work and will do anything to avoid it
- stick approach. Need to be forced to work
- average person likes to be directed to avoid responsibility - is unambiguous and wants security
10
Q
Theory Y
A
- comes naturally to put in effort to work
- willing to accept and seek responsibility
- capacity to use a high degree of imagination and creativity is high throughout population
