Managers, Leadership and Decision Making Flashcards
What is a manager?
A person responsible for controlling or administering an organization or group of staff.
What are the main roles of a manager?
Planning, organizing, leading, controlling, and decision-making.
What is leadership?
The act of guiding and motivating a group to achieve a common goal.
What is the difference between a leader and a manager?
Leaders focus on inspiring and influencing, while managers focus on organizing and executing tasks.
What is Autocratic Leadership?
A leadership style where the leader makes decisions alone with little input from others.
What is Democratic Leadership?
A style where the leader involves employees in decision-making and encourages participation.
What is Laissez-Faire Leadership?
A hands-off approach where employees have freedom to make decisions and manage their own work.
What is Transformational Leadership?
A style that focuses on inspiring change and development within the team.
What is Transactional Leadership?
A style where the leader rewards or punishes based on performance, emphasizing order and structure.
What is Situational Leadership?
A theory suggesting leaders should adapt their style based on the maturity and skills of followers.
What are the key steps in the decision-making process?
Identify the problem, gather information, analyze options, choose the best option, implement, and evaluate.
What is “Rational Decision Making”?
A logical, step-by-step approach where choices are based on factual information and analysis.
What is “Intuitive Decision Making”?
Making decisions based on instincts and experience rather than detailed analysis.
What is “Incremental Decision Making”?
A process where small decisions lead to gradual change rather than one large decision.
What is a “Strategic Decision”?
A long-term decision that affects the entire direction of the business.
What is a “Tactical Decision”?
A medium-term decision that supports strategic decisions but has less overall impact.
What is an “Operational Decision”?
A short-term decision focusing on day-to-day activities.
What is the “Opportunity Cost” in decision-making?
The cost of the next best alternative foregone when making a choice.
What is a “Sunk Cost”?
Costs that have already been incurred and cannot be recovered.
What is the “Decision Tree” in business?
A graphical tool that outlines various options and their potential outcomes to aid decision-making.
Who developed the “Theory X and Theory Y” concept?
Douglas McGregor.
What does Theory X assume about employees?
Employees are naturally lazy, lack ambition, and need supervision.
What does Theory Y assume about employees?
Employees are self-motivated, enjoy work, and seek responsibility.
What is Herzberg’s Two-Factor Theory?
A motivation theory identifying Hygiene Factors and Motivators as two factors influencing job satisfaction.
Who developed “Maslow’s Hierarchy of Needs”?
Abraham Maslow.
What is Blake and Mouton’s Managerial Grid?
A model evaluating management style based on concern for people and concern for production.
What is the Tannenbaum-Schmidt Leadership Continuum?
A model showing a range of leadership styles from authoritarian to democratic.
What does Fiedler’s Contingency Model suggest?
The effectiveness of a leader depends on situational factors and their leadership style.
What is the “Path-Goal Theory” of leadership?
A theory stating leaders can increase employee motivation by clarifying goals and paths to achievement.
What is “Charismatic Leadership”?
A leadership style where leaders inspire and energize followers through their personal charm and vision.
What is the SWOT Analysis?
A tool to assess Strengths, Weaknesses, Opportunities, and Threats for decision-making.
What is the PESTLE Analysis?
A framework analyzing Political, Economic, Social, Technological, Legal, and Environmental factors.
What is Cost-Benefit Analysis (CBA)?
A process of comparing the costs and benefits of a decision to determine if it is worthwhile.
What is a “Risk Assessment”?
Evaluating potential risks involved in a decision and their likelihood and impact.
What is the Six Thinking Hats technique?
A tool where each “hat” represents a different perspective to analyze decisions.
What is the “Stakeholder Mapping Matrix”?
A tool used to assess the interest and influence of stakeholders on business decisions.
What is the “Expected Value” in decision trees?
A calculation of possible outcomes weighted by their probabilities, used to make informed decisions.
What is “Critical Path Analysis” (CPA)?
A technique for project planning that identifies the longest sequence of tasks in a project timeline.
What is “Break-even Analysis”?
A calculation to determine the level of sales needed to cover costs, aiding in decision-making.
What are “SMART objectives”?
Specific, Measurable, Achievable, Relevant, and Time-bound objectives for effective planning and decision-making.
