CORPORATE GOVERNACE

Question 1

What is a democratic leader

Answer 1

Allows subordinates to provide input and participate in decision making process.
+ it allows buy in and commitment
- slower decision making process

Question 2

What is an autocratic leader

Answer 2

Seldom allows input
+ in crisis situations this is the best leadership style
- employees often have a low morale as they feel undervalued

Question 3

Laissez faire

Answer 3

Manager believes he/she should not interfere in the process of carrying out a task

Question 4

Transactional

Answer 4

Give and take - motivated staff to preform for rewards

Question 5

Transformational

Answer 5

Charismatic by nature - motivates staff by helping to understand meaning of work and emphasise meaning of teamwork - builds confidence and trust between management and staff. This inspiration and positive work environment leads to high levels of productivity

Question 6

Situational leadership style

Answer 6

Combination of all leadership styles and will adapt to whatever is required in a certain situation

Question 7

Name 5 management tasks

Answer 7

• polc
• delegation
  -decision making

Question 8

Name 5 managerial competencies

Answer 8

• global awareness
  -organisational awareness
  -teamwork
• initiative
  -empowerment and talent development

Question 9

Define corporate governance

Answer 9

Defined as the set of rules and processes that are used by Top Management to direct and control the business - provides a framework and control measures to looks after the bottom line of the business considering interest of the stakeholders

Question 10

What is King I

Answer 10

• triple bottom line (integrated reporting) - people planet and profit

Question 11

King II

Answer 11

• 7 principles
  1. Transparency
  2. Accountability
  3. Independence
  4. Discipline
  5. Social responsibility
  6. Fairness
  7. Responsibility of directors

Question 12

King II

Answer 12

• 7 principles
  1. Transparency
  2. Accountability
  3. Independence
  4. Discipline
  5. Social responsibility
  6. Fairness
  7. Responsibility of directors

Question 13

King III

Answer 13

• expands on responsibility of directors
• directors must act with skill and care
• act in good faith fiduciary duty
• try to pre empt risk
• ethical leadership
• audit committees
• Integrated reporting

Question 14

King IV

Answer 14

• broad outcomes
• ethical culture
• good preformance
• Effective control
  Trust and good reputation