Unit 2: Management + Leadership Flashcards
What are the six functions of a business?
- Finance
- HR
- Marketing
- Research and development
- Sales team
- Operations team
What are the functions of management?
- Planning
- Organising
- Directing
- Controlling
What are the four factors of production?
- Land
- Labour
- Enterprise
- Capital
What is leadership?
A relationship through which one person influences the behaviour or actions of other people.
What are examples of factors affecting leadership style?
Situation, subordinate, leader
What are the four leadership styles?
Autocratic, paternalistic, democratic, laissez faire
What are Henry Mintzberg’s three managerial roles?
Interpersonal, informational, decisional
Who created the continuum of leadership?
Tannenbaum and Schmidt
What are the steps on Tannenbaum and Schmidt’s Continuum of Leadership?
Tells, sells, suggests, consults, joins, delegates, abdicates
What are the four sections of the Blake Mouton grid?
Country club, impoverished, team leader, task manager
What goes on the x-axis and the y-axis on the Blake Mouton grid?
x-axis: Task
y-axis: People
Which of McGregor’s motivational theories (X or Y) use people for work and which look after people’s needs?
X: use people for work
Y: people’s needs
What are the two types of approaches to decision making?
Intuition and scientific
What are roles of data in decision making?
- Real time data capture e.g. customer preferences
- Responding to real time changes in market conditions e.g. Uber
- Market research
- Capacity management
- Inventory control
What is risk?
The probability that something goes wrong leading to an loss, when a hoped for outcome doesn’t happen.
