Topic 2- Managers Flashcards

1
Q

What does leadership mean

A

Taking the initiative to set clear objectives and to motivate or guide staff towards their achievement

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What does management mean

A

Organising and galvanising staff to implement the strategies needed to achieve the objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How can delegation by authority by democratic leaders be approached (2)

A
  • management by objectives

- laissez-faire

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is a paternalistic leader (3)

A
  • They think and act like a father
  • they try to do what is best for the team
  • interested in the security and social needs of staff
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What are the 2 leadership behaviours that the “Blake/Mouton” grid looks at

A

1) concern for people

2) concern for performance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What is the blake/mouton grid

A

It is a model that highlights different management styles according to their focus on the task and the people within the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is a problem with the b/m grid

A

-it possibly implies that leadership styles are static e.g the boss can only maintain one leadership style

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is the Tannenbaum and Schmidt continuum

A

It is a model that highlights a range of different management styles suggesting that it was more dynamic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Strengths of the Tannenbaum and Schmidt continuum (2)

A
  • leaders can change per different situations

- shows a range of leadership styles which managers can adapt to

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are tactical decisions

A

-they tend to be immediate/short term

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Who are tactical decisions usually made by

A

Middle management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are operational decisions

A

They relate to the day-to-day running of the business. They are mainly routine

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Who are operational decisions usually made by

A

Middle or junior managers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are strategic decisions

A

They are long term in their impact. They affect and shape the direction of the whole business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Who are strategic decisions usually made by

A

Senior managers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Influences on decision making (6)

A
  • external environment
  • mission
  • resources
  • ethics/ beliefs
  • competition
  • objectives
17
Q

What is a decision tree

A

They are diagrams that set out all the options available when making a decision, plus an estimate of their likelihood of occurring

18
Q

When can you use decision trees (2)

A
  • when discussing important concepts in decision making such as choices, opportunity cost etc
  • shows different outcomes
19
Q

Decision trees (key terms)

Node

A

(Circle)- outcomes

20
Q

Decision trees (key terms)

List out all 4 key terms

A
  • node
  • actual values
  • expected values
  • net gains
21
Q

Advantages of decision trees (3)

A
  • allow for uncertainty
  • they make managers consider all possible outcomes
  • encourages a quantitive approach
22
Q

Disadvantages of decision trees (3)

A
  • can be biased
  • hard to get accurate date
  • managers can manipulate data
23
Q

What is an opportunity cost

A

The cost of missing out on the next best alternative when making a decision

24
Q

Examples of opportunity costs (3)

A
  • missing out on a regular salary (if setting up a business)
  • lose family time and time in general
  • benefits lost from investment spending
25
Factors influencing choice of business start up (3)
- cash requirements - suitable skills - suitable time
26
What are trade-offs
A situation that involves losing one quality or aspect of something in return for gaining another quality or aspect
27
What are stakeholders
An individual or group that has an effect on and is affected by the activities of an organisation
28
Examples of internal stakeholders (3)
- workers - owners (shareholders in a ltd) - managers
29
Examples of external shareholders (3)
- suppliers - government - customers - shareholders in a plc
30
Give the 4 aspects of shareholder mapping
- monitor - keep informed - keep satisfied - manage closely
31
Advantages if shareholder mapping (4)
- it helps a business/ managers to set priorities when operating/ decision making - may improve motivation - saves time - High communication