Concepts

Question 1

What are the 6 types of businesses

Answer 1

Sole traders, Partnerships, Private limited companies, Public limited companies, Social enterprises and Government Business Enterprises.

Question 2

What are the 5 management styles?

Answer 2

Autocratic, Persuasive, Consultative, Participative and Laissez-faire

Question 3

What are the 6 management skills?

Answer 3

Communication, delegation, planning, leadership, decision making and interpersonal

Question 4

What are the 3 different cultures in a business?

Answer 4

Corporate culture, Official culture and Real culture

Question 5

What are the 7 business objectives?

Answer 5

Making a profit, Increasing market share, improving efficiency, Improving effectiveness, Fulfilling a market need, Fulfilling a social need and meeting shareholder expectation.

Question 6

What are the 5 Maslow’s hierarchy of needs?

Answer 6

Self actualization, esteem needs, social needs, safety and security needs and physiological needs

Question 7

What are Lawrence and Nohira’s the four drives?

Answer 7

Drive to acquire, bond, learn and defend

Question 8

What are the three phases of the employment cycle?

Answer 8

1. Establishment phase
2. Maintenance phase
3. Termination phase

Question 9

What are the 5 motivational strategies?

Answer 9

-performance related pay
-career advancement
-investment in training
-support
-sanction

Question 10

What are the 4 performance management strategies?

Answer 10

-management by objectives
-performance appraisals
-self evaluation
-employee observation

Question 11

What are the 6 types of termination?

Answer 11

-retirement
-redundancy
-resignation
-dismissal
-entitlement considerations
-transition considerations