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Business > Management Styles > Flashcards

Management Styles Flashcards

1
Q

Define ‘Business’;

A

A business is an organisation, enterprise or business engaged in the production and trade of ‘goods and services’, usually for profit.

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2
Q

Define ‘goods’;

A

A tangible object that can be held

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3
Q

Define ‘services’;

A

An intangible object that is own but can’t necessarily be held

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4
Q

What are the 4 key business functions?

A
  • Operations
  • Marketing
  • Finance
  • Human Resources
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5
Q

Which arrangement of the following is correct?

a) PLOC
b) POLC
c) POCL
d) LPOC

A

b) POLC

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6
Q

What is planning?

A

Planning is the process of setting objectives and finding ways to achieve those objectives

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7
Q

That levels of management take part in planning?

A

Planning is a commonplace activity undertaken by all levels of management

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8
Q

What are the 3 levels of planning (from highest to lowest)?

A
  • Strategic Planning
  • Tactical Planning
  • Operational Planning
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9
Q

What is strategic planning?

A
  • Long term planning, spanning 3-5 years.
  • Is conducted by senior managers
  • Big picture planning
  • E.g. Expanding overseas
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10
Q

What is tactical planning?

A
  • Medium term planning, spanning 1-2 years.
  • Conducted by middle managers
  • Often departmental objectives
  • E.g. Increase sales
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11
Q

What is operational planning?

A
  • Short term, day-to-day planning
  • Conducted by lower managers
  • E.g. Weekly roster
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12
Q

What is organising?

A

Organising is the process of defining the relationship between staff and tasks, so that al resources of an organisation are working towards its objectives.

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13
Q

What is leading?

A

Leading is the process of influencing and monitoring employees to achieve the organisations goals and objectives

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14
Q

What is controlling?

A

Controlling is the process of establishing ways to compare actual performance with planned performance.

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15
Q

What does controlling include?

A
  • establishing benchmarks
  • determining methods of measuring performance
  • measuring actual performance
  • comparing results agains benchmark
  • taking corrective action when necessary
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16
Q

Overall, what is a top mangers role?

A
  • set objectives
  • plan tasks; make decisions
  • scan and access the environment
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17
Q

Overall, what is a middle mangers role?

A
  • allocate resources
  • report to top managers
  • oversea lower-level management
  • develope and implement activities
18
Q

Overall, what is a low-level mangers role?

A
  • supervise employees
  • involve in day-to-day activities
  • report to middle managers
  • coordinate activities
19
Q

What does the abbreviation POLC stand for?

A

Planning
Organising
Leading
Controlling

20
Q

Advantages of autocratic managers?

A
  • clear direction and procedures
  • employees roles and expectations are clearly defined
  • control is centralised and production is maximised
21
Q

What are the disadvantages of an autocratic manager?

A
  • no employee input allowed

- can result is high absenteeism

22
Q

Advantages of persuasive manager?

A
  • Gain trust and support through persuasion

- instruction and explanation remain clear and constant

23
Q

What are the disadvantages of a persuasive manager?

A
  • attitudes and trust remain negative, employees fail to give full support to managers
  • communication poor and limited
  • frustration of employees as unable to contribute decision making
24
Q

What are the advantages of a consultative manager?

A
  • employees input allowed for a greater variety of ideas, resulting in better decisions
  • employees begin to have some ownership of the organisation, so take more interest in it, resulting in improved productivity, motivation and commitment
  • decisions are discussed prior to being made, resulting in tasks being completed more efficiently and with better results
25
Q

What are the disadvantages of a consultative manager?

A
  • The time taken to consult with each employee before making a decision
  • some issues are not suitable for a widespread consultation
  • not every employees suggestion can be adopted, which may cause conflict or resentment
26
Q

What are the advantages of a participative manager?

A
  • employer/ employee relations are positive
  • motivation and job satisfaction are optimal because employees feel they have played a part in meeting the organisational objectives
  • employees have a greater opportunity to acquire more skills
  • there is a high level of trust between employees and managers
27
Q

What are the disadvantages of a participative manager?

A
  • The role and control of manager maybe weakened
  • not all employees want to contribute
  • making decisions can be very time-consuming when differing and conflict views have to be considered
28
Q

What are the advantages of a laissez-faire manager?

A
  • employees feel a sense of ownership which can promote outstanding results
  • there is continued encouragement for creativity, which is conductive to a dynamic work environment
  • in a flat structure, communication is wide open and ideas are both discussed and shared
29
Q

What are the disadvantages of a laissez-faire manager?

A
  • there is a complete loss of control by management, and may result in the misuse of the organisations resources
  • can breed personal conflict where employees may only wish to implement their own ideas instead of working as a team to achieve a common goal
  • The focus on meeting organisational objectives can be easily eroded. As a result, management may find themselves with a failed organisation or nothing to manage
30
Q

What is corporate culture?

A

Corporate culture includes the values and ethics that are essential to the businesses internal environment, and must be shared by all members of the organisation.

31
Q

Define what the internal environment of a business is?

A

The internal environment of a business is those factors that the organisation has direct control over.

32
Q

How can the corporate culture be created?

A
  • management providing example
  • management recognising and rewarding appropriate action
  • management communicating aspects of the desired culture
  • recruitment and selection practices in line with the desired cultures
  • training in line with the desired culture
33
Q

What does the internal environment of a business include?

A
  • corporate culture and values
  • staff
  • structure
  • policies
  • communication
  • operations
  • technology
34
Q

What is included within the external environments of a business?

A

Political/ Legal
Economic
Social/ Cultural
Technological

35
Q

What are stakeholders?

A

That take interest in the formants and activities of the business because it has an impact on them. Stakeholders can either be internal or external of the business.

36
Q

List 8 different kinds of stakeholders;

A
  • Government
  • environment
  • shareholders
  • suppliers
  • consumers
  • management
  • employees
  • local community
37
Q

Identify which of the stakeholders internal or external to a business;

  • owners
  • Government
  • managers
  • Customers
  • shareholders
  • suppliers
  • Community
  • staff and employees
A
  • owners (l)
  • Government (E)
  • managers (I)
  • Customers (E)
  • shareholders (E)
  • suppliers (E)
  • Community (I & E)
  • staff and employees (I)
38
Q

What are internal stakeholders?

A

Internal stakeholders are entities within a business that are directly impacted by the performance of the business.

39
Q

What are external stakeholders?

A

External stakeholders are entities not with in a business itself but do you care about or are affected by its performance

40
Q

What is organisational effectiveness?

A

Organisational effectiveness is the degree to which an organisation satisfies the demands of its stakeholders

Business (5 decks)

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