Management and leadership Flashcards
What is management ?
The creating, controlling and directing of the business’s resources in order to achieve its objectives
What is leadership ?
The ability to influence and direct people in order to meet the goals of a group
What is a leader ?
Someone that can inspire and motivate people to meet objectives
What are the functions and roles of management ?
- Planning
- Leading
- Organising
- Controlling all aspects of the business
What is management by objectives (MBO) ?
Improving the business performance through clearly defined objectives for managers and employees.
What do objectives need to be ?
SMART :
Specific - should meet specific needs and wants of customers and the organisation
Measurable - anyone can see whether they have been achieved
Achievable - challenging, not impossible
Relevant - needs of business and stakeholders
Timely - specific time scale attached to them
What are the advantages of management by objectives ?
- Show clear objectives
- Show clear idea of priorities managers should have
- Sense of belonging and worth
- Everyone focused on the same goal
What are the disadvantages of management by objectives ?
- Costly and time consuming to be effective
- Objectives set often aren’t SMART, leading to demotivation
What is McGregor’s theory X and theory Y ?
Outlines two styles of management, only managers assumptions
What is theory X ?
- Managers take pessimistic view of workers
- Believe they dislike work
- Motivated by rewards and punishments
- Avoid responsibility
What is theory Y ?
- Managers have positive view of workers
- Trust-based, encourage collaboration
- Support workers taking on responsibility and developing skills
- Workers are happy working on own initiative and are self-motivated
- Want to be involved in decision-making
What are the five leadership styles ?
- Autocratic
- Paternalistic
- Democratic
- Laissez-faire
- Bureaucratic
What is the autocratic leadership style ?
Leader makes all decisions independently of employees without consultation
What motivational theory does autocratic leadership style support ?
F.W. Taylor’s scientific management theory
What are the disadvantages of autocratic leadership style ?
- Little delegation
- Employees may feel undervalued and demotivation
- Loss of productivity