Section Two-Management + Leadership Flashcards
What does a paternalistic leadership involve?
- leader consults workers before making decisions + explains them
- Believe that getting involved and caring about human relations is a positive motivator
What does a democratic leadership involve?
- encourages the workforce to participate in decision making
- discuss issues with workers + listen to advic
- shows confidence in their workforce
What does an Laissez-Faire leadership style involve?
- Weak form of leadership
- may offer coaching and suppose but rarely interfere with running the business
- this hands off approach is only appropriate for highly motivated workers
What are the internal and external factors that effect the leadership style?
Internal - routine tasks or urgent tasks
External - the competition,the state of the economy
What is the Tannenbaum Schmidt continuum?
A way of showing leaderships styles and ranging them from autocratic through to increasing levels of participation by the workforce
What does the Blake Mouton grid asses?
The managers based on how much they care about their employees and production
-concern of production on X axis and concerns for people on Y axis
What’s opportunity cost?
The value of the next best alternative
-the benefit that’s given up in order to do something else
What do decisions trees show?
Which course of action is the best
What does a square &circle show?
Square - decision point
Circle - alternative outcome
Which way do you work when doing calculations?
RIGHT TO LEFT
Advantages and disadvantages of decision trees?
Advantages
- visual representations
- allow managers to compare outcomes
- help make key decisions
Disadvantages
- ignore the qualitative data
- probabilities are hard to predict
- wider range of outcomes than the tree suggests
What is a stakeholder?
Everyone affected by a business
Internal&external stakeholders?
Internal- owners + employees
External-customers,suppliers,local community and the government
What is stakeholder mapping?
A map helping to identify how much interest in power over a business a stake holder has
What does an autocratic leadership style involve?
The leader makes own decisions and says exactly how the objectives are going to be achieved
Workers don’t make own decisions -may demotivate them
