Managers, Leadership and Decision Making

Question 1

What is a manager?

Answer 1

A person responsible for controlling or administering an organization or group of staff.

Question 2

What are the main roles of a manager?

Answer 2

Planning, organizing, leading, controlling, and decision-making.

Question 2

What is leadership?

Answer 2

The act of guiding and motivating a group to achieve a common goal.

Question 3

What is the difference between a leader and a manager?

Answer 3

Leaders focus on inspiring and influencing, while managers focus on organizing and executing tasks.

Question 4

What is Autocratic Leadership?

Answer 4

A leadership style where the leader makes decisions alone with little input from others.

Question 5

What is Democratic Leadership?

Answer 5

A style where the leader involves employees in decision-making and encourages participation.

Question 6

What is Laissez-Faire Leadership?

Answer 6

A hands-off approach where employees have freedom to make decisions and manage their own work.

Question 7

What is Transformational Leadership?

Answer 7

A style that focuses on inspiring change and development within the team.

Question 8

What is Transactional Leadership?

Answer 8

A style where the leader rewards or punishes based on performance, emphasizing order and structure.

Question 9

What is Situational Leadership?

Answer 9

A theory suggesting leaders should adapt their style based on the maturity and skills of followers.

Question 10

What are the key steps in the decision-making process?

Answer 10

Identify the problem, gather information, analyze options, choose the best option, implement, and evaluate.

Question 11

What is “Rational Decision Making”?

Answer 11

A logical, step-by-step approach where choices are based on factual information and analysis.

Question 12

What is “Intuitive Decision Making”?

Answer 12

Making decisions based on instincts and experience rather than detailed analysis.

Question 13

What is “Incremental Decision Making”?

Answer 13

A process where small decisions lead to gradual change rather than one large decision.

Question 14

What is a “Strategic Decision”?

Answer 14

A long-term decision that affects the entire direction of the business.

Question 15

What is a “Tactical Decision”?

Answer 15

A medium-term decision that supports strategic decisions but has less overall impact.

Question 16

What is an “Operational Decision”?

Answer 16

A short-term decision focusing on day-to-day activities.

Question 17

What is the “Opportunity Cost” in decision-making?

Answer 17

The cost of the next best alternative foregone when making a choice.

Question 18

What is a “Sunk Cost”?

Answer 18

Costs that have already been incurred and cannot be recovered.

Question 19

What is the “Decision Tree” in business?

Answer 19

A graphical tool that outlines various options and their potential outcomes to aid decision-making.

Question 20

Who developed the “Theory X and Theory Y” concept?

Answer 20

Douglas McGregor.

Question 21

What does Theory X assume about employees?

Answer 21

Employees are naturally lazy, lack ambition, and need supervision.

Question 22

What does Theory Y assume about employees?

Answer 22

Employees are self-motivated, enjoy work, and seek responsibility.

Question 23

What is Herzberg’s Two-Factor Theory?

Answer 23

A motivation theory identifying Hygiene Factors and Motivators as two factors influencing job satisfaction.

Question 24

Who developed “Maslow’s Hierarchy of Needs”?

Answer 24

Abraham Maslow.

Question 25

What is Blake and Mouton’s Managerial Grid?

Answer 25

A model evaluating management style based on concern for people and concern for production.

Question 25

What is the Tannenbaum-Schmidt Leadership Continuum?

Answer 25

A model showing a range of leadership styles from authoritarian to democratic.

Question 26

What does Fiedler’s Contingency Model suggest?

Answer 26

The effectiveness of a leader depends on situational factors and their leadership style.

Question 27

What is the “Path-Goal Theory” of leadership?

Answer 27

A theory stating leaders can increase employee motivation by clarifying goals and paths to achievement.

Question 28

What is “Charismatic Leadership”?

Answer 28

A leadership style where leaders inspire and energize followers through their personal charm and vision.

Question 29

What is the SWOT Analysis?

Answer 29

A tool to assess Strengths, Weaknesses, Opportunities, and Threats for decision-making.

Question 30

What is the PESTLE Analysis?

Answer 30

A framework analyzing Political, Economic, Social, Technological, Legal, and Environmental factors.

Question 31

What is Cost-Benefit Analysis (CBA)?

Answer 31

A process of comparing the costs and benefits of a decision to determine if it is worthwhile.

Question 32

What is a “Risk Assessment”?

Answer 32

Evaluating potential risks involved in a decision and their likelihood and impact.

Question 33

What is the Six Thinking Hats technique?

Answer 33

A tool where each “hat” represents a different perspective to analyze decisions.

Question 34

What is the “Stakeholder Mapping Matrix”?

Answer 34

A tool used to assess the interest and influence of stakeholders on business decisions.

Question 35

What is the “Expected Value” in decision trees?

Answer 35

A calculation of possible outcomes weighted by their probabilities, used to make informed decisions.

Question 36

What is “Critical Path Analysis” (CPA)?

Answer 36

A technique for project planning that identifies the longest sequence of tasks in a project timeline.

Question 37

What is “Break-even Analysis”?

Answer 37

A calculation to determine the level of sales needed to cover costs, aiding in decision-making.

Question 38

What are “SMART objectives”?

Answer 38

Specific, Measurable, Achievable, Relevant, and Time-bound objectives for effective planning and decision-making.