Module 1 Flashcards
Vision
Where a company wants to be in the future
Mission statement
What the organization needs to do to achieve the vision
Core traits of being a leader
Drive, self confidence, cognitive ability (problem solving), knowledge of the business, leadership, motivation, and integrity.
Behavior theories of leadership
Great man theory, behavioral theory, contingency theory, transactional theory
Transactional theories of leadership
Focuses on supervision, organization, and performance. Rewards and punishments are used. It works best in organizations where there are linear processes and employees know their job well
4 functions of management
Planning, organizing, leading, coordinating, controlling
Difference between leaders and managers
Differentiated in terms of processes which they come in their position. Differ in types and sources of power. Managers use legitimate power while leaders attain power from followers.
The four steps of strategic management processes
Strategic objectives and analysis, strategic formulation, strategic implementation, strategic evaluation and control
Great man theory
You’re either born with leadership skills or your not
Behavioral theory
Anyone can be trained to be a leader
Contingency theory
Group performance depends in the proper match b/w the leader’s style and the degree to which the situation Gives the leader control
Transactional theory
I’m going to give you the paycheck if you do your job. There’s a transaction
Skills of a manager
Technical, human relations, conceptual, decision making, problem solving
Transformational leadership
Four components of transformational leadership connects with sense of identity: individualized consideration, intellectual stimulation, inspirational motivation and idealized influence
Intellectual stimulation
Challenge assumptions, take risks, and help followers think outside the box. They provide stimulation, creativity and innovation
