Managers, Leadership and Decision Making Flashcards
Leader definition:
Motivate and inspire people
Manager definition
Managers set objectives with the leader’s vision and help organise the resources to ensure the objectives are met
Specific roles of a manager
Make decisions
Analyse and interpret data
Set objectives
Gather resources
Appraise their employees strengths/weaknesses
Lead their staff
Review the effectiveness of their decisions
Authoritarian style
Also known as autocratic, the leader makes the decisions by themselves which is useful when dealing with a large amount if unskilled workers and crisis management.
Requires constant supervision which can demotivate intelligent workers
Paternalistic style
Fatherly style, the leader will consult workers before making decisions and persuade them its in their interest.
Democratic style
The leader encourages the workers to participate in the decision making process, discussing and listening. Good motivator.
Laissez-Faire style
Weak form of leadership, while they may offer coaching and support they ultimately rarely interfere with the running of the business.
Only appropriate for highly skilled workers.
Parts of the Tannenbaum Schmidt Continuum:
Tells
Sells
Suggests
Consults
Joins
Delegates
Abdicates
what is the distinction between management and leadership
Management involves controlling and organising resources, processes and people to achieve goals but leaders motivate and guide people, focusing on behaviour and innovation.
What do circles and squares represent on decision trees?
Squares are decisions
Circles are outcomes.
What does the expected value represent?
The weighted average of a given choice
decision tree advantages
nice visual representation
allow managers to compare options quantitatively and objectively rather than going for the first decision they thought of.
Useful in familiar situations where they can make accurate estimates
decision tree disadvantages
does not take in to account qualitative data
Probabilities are hard to predict accurately
Wider range of outcomes than the tree suggests
