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Business > Topic 2 - Managers, Leadership and Decision Making > Flashcards

Topic 2 - Managers, Leadership and Decision Making Flashcards

1
Q

What do managers do

A 
Set objectives 
- clear ides of what to achieve 
Analyse 
- conditions business face 
- performance of staff 
- how objectives are met 
Lead 
- inspiring employees 
Making decisions 
Reviewing
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2
Q

What is a autocratic manager

A

Tell employees what to do
Don’t listen to employees
Top down communication

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3
Q

What is a democratic leader

A

Involve workers in decisions

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4
Q

What is laissez faire management

A

Don’t tell junior staff what to do

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5
Q

What is paternalistic leadership

A

Thinks and acts like a father

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6
Q

What are the two axis on blake moutons grid

A

Concern for people

Concern for performance

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7
Q

What are the names of the leadership types on Blake moutons grid

A
  • team management
  • produce or perish
  • middle of the road
  • country club
  • impoverished
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8
Q

Describe team leadership

A
  • values task completion and people

- interest and trust in staff

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9
Q

Describe produce or perish leadership

A
  • staff are resources
  • financial drive to succeed
  • autocratic leadership
  • good staff likely to leave
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10
Q

Describe middle of the road leadership

A
  • struggle to succeed at either

- don’t gain an advantage

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11
Q

Describe country club leadership

A
  • lack of urgency to get things done

- poor productivity

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12
Q

Describe impoverished leadership

A
  • Laissez faire
  • no concern for people or task
  • businesses don’t succeed
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13
Q

Left of Tannenbaum and Schmidt continuum

A
  • managers have full authority and decision making power

- autocratic

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14
Q

Right of Tannenbaum and Schmidt continuum

A
  • employees are given authority and decision making power
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15
Q

Different types of leadership on the continuum

A

Tell
Sell
Consult
Delegate

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16
Q

Influences on management and leadership styles and effectiveness of styles

A
  • state of emergency style may need to become autocratic
  • skills of employees
  • external environment
17
Q

What is scientific decision making

A

Decision making using data

18
Q

Advantages of scientific decision making

A
  • reduce risks

- provides guidance when managers have lack of experience

19
Q

Disadvantages of scientific decision making

A
  • time consuming
  • experience and expertise of staff not considered
  • data may be unreliable
20
Q

What is intuition in decision making

A

Judgement made on experience and strength of understanding

21
Q

What factors influence scientific decision making

A
  • availability and reliability of data
  • managers experience
  • risk a business is willing to accept
22
Q

Influences on decision making

A 
Mission 
- decisions should be made to help achieve the mission 
Objectives 
Ethics 
External environment
Resource constraints
Reward for managers 
Opportunity costs
23
Q

What are the advantages of decision trees

A
  • allows for uncertainty
  • ensures managers consider alternative outcomes
  • set out problems clearly and encourage a logical approach
  • encourage a quantitative approach
  • show average expected value
  • useful in tactical or routine decisions
24
Q

Disadvantages of decision trees

A
  • biased
  • difficult to get data
  • less useful in new problems
  • easy to manipulate
  • don’t take into account variability
  • may divert away from qualitative
25
Q

Opportunity cost

A

The impact of choosing one project instead of another

26
Q

Advantages of intuition decision making

A
  • experience and intuition is accurate
  • quicker
  • less resources needed
27
Q

Disadvantages of decision making

A
  • mistakes can be made

- decisions may be made for illogical reasons

28
Q

What are the axis on stakeholder mapping

A

POWER

INTEREST

29
Q

High high stakeholder mapping

A

Engage closely

30
Q

High power Low interest stakeholder mapping

A

Keep satisfied

31
Q

Low power Low interest stakeholder power

A

Monitor

32
Q

High interest Low power

A

Keep informed

33
Q

The need to consider stakeholder needs when making decisions

A
  • stop resistance for decisions
  • keeps pressure groups satisfied
  • prevent negative press
34
Q

Overlapping stakeholder needs

A 
Technological advances
- Shareholders, managers and customers 
Recession 
- shareholders and managers 
Inflation 
- shareholders and managers
35
Q

Conflicting needs of stakeholders

A 
Technological advance 
- managers and employees 
Recession 
- managers and suppliers 
- employees and customers 
Inflation 
- Managers and employees 
- managers and suppliers 
- managers and retailers
36
Q

Influences on relationships on stakeholders

A
  • financial pressure
  • the labour market
  • personal convictions
37
Q

What is consultation

A

Investigate the views and feelings of stakeholders so they feel involved in any decision made by the business

38
Q

What is communication

A

Share information with stakeholders through emails and newsletters

Business (21 decks)

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