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business exam corrections > mgt skills > Flashcards

mgt skills Flashcards

1
Q

implications of manager adopting theory Y

A

•high levels of trust
•innovation
•improved communications
•delegation
•open style of management

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2
Q

high levels of trust
(theory Y implications)

A

•IR are improved when the mgr places trust and authority into their staff. morale is improved and less time is spent on resolving conflict

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3
Q

innovation
(theory Y implications)

A

•improved communication may result in employee being more likely to innovate or come up with an idea for a new product, way of reducing costs, etc

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4
Q

improved communications

A

•atmosphere in workplace is improved as the manager uses a two way system of communication
•this reduces resistance to change & helps business manage change effectively

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5
Q

delegation
(theory Y implications)

A

•by giving employees more authority motivation improved as employees feel more in control of their environment
•may lead to better customer relations as a happy workforce enjoys engaging with the consumer, can lead to increased sales & profitability

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6
Q

open style of management
(theory Y implications)

A

•mgt open to employer suggestions & welcome opportunity to discuss rather than give directions
•this improved knowledge base can lead to more effective decision making & higher productivity in design/manufacturing businesses

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7
Q

democratic leadership

A

•involves staff, trusts staff, open communication and delegates
•staff consulted abt decisions
•increased productivity
•improved communications & decisions
•culture of intrapreneurship
•reduces mgt workload and stress

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8
Q

staff consulted abt decisions
(democratic leadership)

A

•democratic leaders are inclusive and involves employees in decision making
•this helps employed feel a sense of trust and increased motivation

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9
Q

improved communications and decisions
(democratic leadership)

A

•problems can be solved more easily with open channels of communication, employees don’t fear their mgr, can approach them with issues in the business

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10
Q

increased productivity
(democratic leadership)

A

•employees who’re motivated work harder
•if an employee is happy in the workplace, they feel trust and valued, their output will increase

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11
Q

creates culture of intrapreneurship
(democratic leadership)

A

•democratic leaders actively encourage employees to be creative
•employees more likely to be creative and innovative as they’re valued in the business

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12
Q

reduced mgt workload and stress

A

•by delegating and empowering staff, mgr free up more time to focus on more important work

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13
Q

delegation

A

•the assignment of authority to another person
•generally is assigned from a manager to a subordinate to undertake a specific work task or project
•the accountability for the task/project is also assigned

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14
Q

delegation benefits for mgr

A

•frees up time for mgt for strategic planning- mgr not required to do all the work and has time for strategic planning
•increased efficiency- task/project may be completed to higher standard due to vol of personal accountability provided

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15
Q

delegation benefits for employees

A

•increased motivation- increased motivation from job enrichment, better morale, challenging work
•staff development - high skilled workforce allow greater mgt flexibility, tasks up skill staff and develop their capabilities

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16
Q

autocratic leadership

A

•leader gives orders to subordinates. makes decisions without consulting anyone
•no delegation, no advice, constant supervision, no consultation, little room for employee innovation
•work well in emergency eg product recall
•general bad results, poor ir, high staff turnover, employee démotivation

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17
Q

laissez faire leadership

A

•manager very little involvement, set timeframe and objectives but leave up to employees on how to achieve
•need very skilled workforce, involves allowing subordinates to set own goals and achieve them w/o interference of mgt, require employees very engaged with their work
•eg pfizer

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18
Q

how has technology benefited business communications

A

•email
•EDI
•internet
•social network sites
•CAD

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19
Q

email
(benefit of technology)

A

•if need to speak to employee in other country or send urgent message, can send email for instant communication

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20
Q

EDI
(benefit of technology)

A

•greatly facilitates communication in a global market
•document transfer, automated stock ordering, details of trading figures, etc can be transmitted globally instantly

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21
Q

social network sites
(benefit of technology)

A

•sites like facebook and business networks like LinkedIn have facilitated the global marketing of companies

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22
Q

virtual meetings
(benefit of technology)

A

•allow workers to work from home and communicate, cutting travel costs

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23
Q

CAD
(benefit of technology)

A

•much easier and faster to develop new products, allowing companies to react quickly to consumer requests and needs
•allows designs to be saved, changed and reworked without starting from scratch

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24
Q

implications of theory x mcgregor

A

•demotivated workforce- autocratic approach, lack of consultation & empowerment, lack trust, no delegation, low morale
•high staff turnover- & retraining costs
•ir poor- impact in productivity
•poor time mgt- mgr won’t delegate, result in possible overwork and stress for mgr

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25
Q

rights of data subject

A

•right to be informed
•right to access
•right to rectification
•right to be forgotten
•right to object
•right in taken to automated decision making

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26
Q

right to be informed

A

•of data being collected, purpose, how long it’ll be kept

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27
Q

right to access

A

•receive copy within month of sing, eg fitness tracker- can ask app operator for all data collected

28
Q

right to rectification

A

•inaccurate data to be corrected
•eg if said you were smoke and you weren’t

29
Q

right to be forgotten

A

•when data no longer needed, can withdraw your consent

30
Q

right to object

A

•eg bought tickets for concert after being boarded with ads for music event

31
Q

right in relation to automated decision making

A

•eg apply for loan online, turned down by system, can ask human to process application

32
Q

role of data protection commissioner

A

•is the supervisory authority responsible for monitoring the application of the GDPR
•monitors & enforces GRPR
•promotes public awareness of GDPR
•prohibits data transfer
•impose fines
•data audits

33
Q

monitors and enforces GDPR
(role of DPC)

A

•order data controller to provide info to data subject when requested
•can also force data controller to delete incorrect info held on data direct

34
Q

promotes public awareness of GDPR
(role of DPC)

A

•informs public of rights under GDPR through its website and published materials like guidelines and infographics

35
Q

prohibits data transfer
(role of DPC)

A

•stop the transfer of data outside ireland in certain circumstances

36
Q

impose fines
(role of DPC)

A

•impose fines up to €20M or 4% of annual turnover, whichever larger, for very serious breaches of GDPR

37
Q

data audits
(role of DPC)

A

•investigate the processes used by data processors and controllers
•can enter business’s premises, speak to relevant staff and inspect & copy info

38
Q

what does a business need to consider when communicating with stakeholders

A

•appropriate language
•confidentiality
•cost
•urgency
•feedback/record

39
Q

appropriate language
(consider when choosing communication)

A

•if language to technical/jargon used then message may be misinterpreted
•choose language appropriate to audience,short clear simple language

40
Q

confidentiality
(consider when choosing communication)

A

•medium chosen must be appropriate to message being given
•if message sensitive to stakeholder eg terminating employment contract of employee, then meeting would be more appropriate than email or letter

41
Q

cost
(consider when choosing communication)

A

•expenses of communication process is very important factors
•CEO communicating with mgrs we may choose virtual meeting to cut travel costs

42
Q

urgency
(consider when choosing communication)

A

•if crucial piece of info has to be communicated instantly then phone, text or email may be appropriate
•eg arrange a change in delivery times

43
Q

feedback/record
(consider when choosing communication)

A

•business may be looking for feedback to take further action
•communication with revenue commissioners may require regular correspondence and written record and in this case business letters and emails can provide formal evidence of the feedback process, eliminating misunderstandings

44
Q

benefits of good communication

A

•increased productivity
•better IR
•team approach
•encourage intrapreneurship
•clear goals can be established

45
Q

increased productivity
(benefits of good communication)

A

•instructions understood by staff and deadlines are clearly communicated
•leads to increased productivity

46
Q

better IR
(benefits of good communication)

A

•clear communication and an openness to listening to others means that any dispute between stakeholders in a business can be resolved before it turns into a critical issue

47
Q

intrapreneurship encouraged
(benefits of good communication)

A

•new ideas flow easily & can be developed quickly in a business with effective communication

48
Q

team approach
(benefits of good communication)

A

•in a modern business a matrix structure may be implemented where employees work on projects in teams
•for teams to be effective the members must communicate clearly and objectively to each other

49
Q

clear goals can be established
(benefits of good communication)

A

•easier to plan with employees and agree individual targets for them
•helps motivate

50
Q

benefits of good communicator mgr

A

•les ir problems
•less errors
•less wastage
•quick decisions/more sales,profits
•better decisions
•better morale

51
Q

less ir problems
(good communicator mgr)

A

•receiver get message from sender. no concussion or ambiguity
•good communicator manager will provide opportunity for feedback to ensure message is conveyed clearly
•leads to less conflict

52
Q

less errors
(good communicator mgr)

A

•clear communication often in written form
•receiver can re read for understanding. leads to fewer errors

53
Q

less wastage
(good communicator mgr)

A

•effective communication in timely member means tasks can start quicker ensuring there’s no wastage/time delay for production

54
Q

quick decisions/increased sales, profits
(good communicator mgr)

A

•manager analyze info quickly which means that decisions can be made without delay
•important in fact changing business environment

55
Q

better morale
(good communicator mgr)

A

•employed empowered by received clear instructions, being listen to and having decisions made in an effective manner
•results in high morale

56
Q

better decisions
(good communicator mgr)

A

•decisions made based on actual facts presented, accurate info given in clear language & confusion can be overcome through opportunities for feedback

57
Q

agm

A

•once a year attended by directors and shareholders
•elect board of directors
•shareholders appoint auditors
•report on company performance by chairperson
•present audited accounts
•question directors
•declare dividend

58
Q

egm

A

•meeting of shareholders and company directors held to discuss urgent matters that can’t wait until next agm

59
Q

board meeting

A

•meeting of board of directors usually held in monthly basis
•progress & performance is discussed and tactical and strategic plans are made
•problem solving is a key function of board meetings

60
Q

board meeting

A

•meeting of board of directors
•progress & performance discussed and tactical and strategic plans made
•problem solving is a key function of these meetings

61
Q

statutory meeting

A

•held once in lifetime of company
•first meeting of shareholders

62
Q

chairperson duties during many

A

•opens meeting after ensuring quorum present
•ensure agenda followed in agreed order
•guide discussion, manage time and contribution, keeping order & dealing with/pts of order is important
•organisé vote & has casting vote
•power to adjourn meeting

63
Q

secretary duties meeting

A

•send notice & agenda to all those entitled to attend. send in plenty of time to give time for prep
•arrange suitable venue w/essential resources like refreshments, audio-visual equip and seating plans
•take minutes of meetings. taking notes so minutes of present meeting can be accurately written up later
•advise & assist chairperson on info, points of order, etc during meeting

64
Q

benefits of meetings

A

•allow discussions to take place on diff proposals, allowing for good effective decision making
•allow info to be conveyed to various stakeholders eg meeting of mgt and employees of firm about ir issues
•are creative forums eg brainstorming sessions during idea generation stage of product development process
•allow for feedback to be given & recieved
•written record (minutes) of decisions can be made for future reference

65
Q

chain of command

A

•the line/path on which orders, decisions and instructions are passed from the top to the bottom of the hierarchy
•channel for which feedback is communicated & creates communication line in the business

66
Q

span of control

A

•number of people directly reporting to a manager in a business
•can be wide or narrow depending on exp of manager, exp of staff & lvl of skill required

business exam corrections (25 decks)

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