Short answer Flashcards
Leadership Styles (Autocratic, Democratic, Laissez-Faire) ?
There are many leadership styles and it is a leader’s method of providing direction and implementing plans and motivating people. There is autocratic, democratic and laissez-faire leadership.
Autocratic leadership is my way or the highway, the leader takes control of the situation whether it’s bad or good. They do not allow participation in making decisions when making a new innovation, plans, etc. Although the leader likes to be in control, this can lead to discontentment and feeling undervalued and not heard and employees can rebel and not put the effort in the work.
Democratic leadership is when the leader allows more contribution and input from its employees, they allow opportunities for employees to contribute. This makes them feel appreciated and valued. This leads to increased team spirit and good morale in the workforce. Having these feelings makes them work harder. Despite the benefits of having a democratic leadership it takes longer to make decisions because they are gathering everyone’s input which can be bad in situations where they have little amounts of time and in a rush.
Laissez faire leadership is when the leader is focused on getting the job done. They usually leave employees alone to do their job. This means the employee group is mature since it shows the lack of help needed and high levels of experience in the workforce. But, all employees need direction, guidance, motivation and feedback. They need to believe their input is valid from their leader as sometimes if they do something wrong and they don’t get feedback, they can continue making that mistake which can be bad for the company.
Marketing Strategies – Identify & Explain ?
Marketing is the action of promoting and selling products or services, including market research and advertising. There are 7 types of common marketing strategies such as…
Celebrity Marketing uses prominent individuals who have substantial influence obvr a group of people in the hope of sending a message to a group. Such as Micheal B jordan promoting Nike
Database Marketing uses massive databases and sophisticated analytics to target specific consumers, some who may not have been asked to be solicited. Such as the endless stream of unsolicited emails,phone and text messages
Viral Marketing is based on encouraging people to pass along favourable marketing messages to friends, colleagues and contacts. Viral marketing is the principle that underlies much of social media and internet advertising. Such as Nike’s just do it campaign
Green marketing or environment marketing involves promoting products, highlighting features of products, that respond to the growing ecological concerns in our society today, usually in younger consumers. Such as promoting meatless burgers
Jingle Marketing involves coming up with a catchy word or jingle that instantly strikes a cord with the right people at the right time. Such as Mcdonalds, “im loving it”
Guerrilla marketing describes unconventional marketing techniques that are intended to make a splash. Such as In 1995, Microsoft draped banners over the CN tower to promote windows 95 release
Social media Marketing is a way of promoting products by creating and sharing content on the internet such as using facebook, tiktok, instagram
Characteristics of Entrepreneurs – Identify & Explain
Efficiency and effectiveness
Project management helps business to stream processes ensuring that projects are completed on time and within budget
Risk management
It identifies potential risks early and develops strategies to mitigate them
Resource management
Effective project management ensures optimal use of resources including time, money, and personnel
Quality control
It maintains the quality of deliverables by setting standards and monitoring progress
Customer satisfaction
By delivering projects that meet or exceed expectations, project management enhances customer satisfaction and loyalty
