unit 2 definitions management, leadership, decision making

Question 1

autocratic leadership

Answer 1

imposing decisions on a group with little / no prior discussion + limited individual choice allowed

Question 2

Blake mouton grid

Answer 2

graphical portrayal of leadership styles

concern for people, concern for production

Question 3

consultation

Answer 3

process in which person / group discovers the views of others

Question 4

country club leadership

Answer 4

most concerned about their team members needs / feelings
assuming that as long as happy + secure they will work hard
productivity often suffers

Question 5

decision tree

Answer 5

diagram showing options available and probabilities of diff possible outcomes resulting from decisions

Question 6

democratic leadership

Answer 6

allowing group discussion to influence final decision

Question 7

expected value

Answer 7

most likely financial outcome of a specific strategy adjusted to take into account diff probabilities of success / failure

Question 8

impoverished leadership

Answer 8

low concern for people and production

Question 9

intuition

Answer 9

gut feeling to make decisions

Question 10

laissez-faire leadership

Answer 10

leader has minimal input, delegating heavily + giving staff autonomy

Question 11

leadership

Answer 11

people who others follow through inspiration / trust

Question 12

management

Answer 12

process of controlling people and getting things done

via planning, organising, controlling + directing

Question 13

manager centred leadership

Answer 13

end of Tannenbaum Schmidt continuum

manager takes decisions, takes it without consultation

Question 14

net gain

Answer 14

expected benefit from a course of action, after all costs have been paid
used in decision tree

Question 15

opportunity cost

Answer 15

the cost of the foregone alternative

the next best thing, given up when a course of action is undertaken

Question 16

produce or perish leadership

Answer 16

managers who believe teams needs are secondary to productivity
autocratic
high concern for production
low concern for people

Question 17

resource constraints

Answer 17

limitations of quantity / quality of labour, materials, time + information and these limits make decision making harder

Question 18

scientific decision making

Answer 18

attempt to make logical decision based on data

Question 19

stakeholders

Answer 19

individual / group that is affected by any business decision

employees, suppliers, local community, government, creditors, shareholders, customers

Question 20

stakeholder engagement

Answer 20

involving anyone who has an interest in the business’ decisions
via consultation / negotiation / communication

Question 21

stakeholder power

Answer 21

level of influence that a stakeholder group has

Question 22

stakeholder mapping

Answer 22

plotting level of interest / power that stakeholders have on grid