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biz! > Unit 2- managers, leadership and decision marking > Flashcards

Unit 2- managers, leadership and decision marking Flashcards

1
Q

what is leadership?

A

ruling, guiding and inspiring people within an organisation in pursuit of agreed objectives.

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2
Q

what is management?

A

planning, organising, directing and controlling all and all parts of a business entreprise

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3
Q

what do managers do? (the art of getting things done through other people)

A

-setting objectives
-organisation
-motivation and communication
-measure
-develop people

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4
Q

what are the 4 leadership types?

A

-autocratic
-democratic
-laissez-faire
-paternalistic

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5
Q

what happens in the tell section of the tannenbaum and schmidt model and what type of leadership style uses it?

A

-typically for autocratic leadership style
-they will tell employees their idea and won’t allow them to have an opinion or make a decision.

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6
Q

what happens in the sell section of the tannenbaum and schmidt model and what type of leadership style uses it?

A

-used by autocratic leaders.
-the manager will ‘sell’ their decision

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7
Q

what happens in the consult section of the tannenbaum and schmidt model and what type of leadership style uses it?

A

-used by democratic leaders
-they will share their ideas and allow employees to share their ideas

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8
Q

what happens in the share section of the tannenbaum and schmidt model and what type of leadership style uses it?

A

-used by paternalistic or laissez-faire leaders
-employees can make their own decisions with previously set limits made by the manager.

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9
Q

what does the Blake mouton grid represent?

A

the concern for production and the concern for people

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10
Q

what is authority?

A

the power or ability to carry through an action

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11
Q

what is delegation?

A

the passing of authority down the organisational structure

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12
Q

what is empowerment?

A

a series of actions designed to give employees greater control over their working life

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13
Q

what is decentralisation?

A

passing of authority from the centre of an organisation to those working elsewhere in the business

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14
Q

adv of a democratic leadership style

A

commitment to business, satisfaction and quality of work may all improve

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15
Q

dis of a democratic leadership style

A

slow decision making, need for consensus may make it hard to take ‘best’ decisions

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16
Q

adv of an autocratic leadership style

A

decisions and directions will be consistent, may project image of a confident and well managed business

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17
Q

dis of an autocratic leadership style

A

lack of info so subordinates are highly dependent on leaders; supervision needed

18
Q

adv of a laissez-faire leadership style

A

may bring the best out of professional or creative groups, freedom

19
Q

dis of a laissez-faire leadership style

A

may not be deliberate, but bad management. Staff lack focus and sense of direction. Much dissatisfaction

20
Q

what is opportunity cost?

A

the cost of the next best alternative that will be missed by making a particular decision

21
Q

what is the decision making progress?

A

-setting objectives
-gathering and interpreting info
-selecting the chosen option
- implementing the decision
-reviewing

22
Q

what are the types of decisions?

A

-programmed (familiar and routined)
-non-programmed (less structured, unique)
-tactical (short term)
-strategic (long term)

23
Q

what is a risk?

A

the chance of incurring misfortune or loss

24
Q

what is uncertainty in regards to making a decision?

A

a situation in which there is a lack of knowledge and events, outcomes or consequences are unpredictable

25
Q

what is scientific decision making?

A

it’s decisions based on data and uses a logical, rational approach to decision making

26
Q

what is decision making based on intuition or hunch?

A

it’s where managers have to rely on their instinct as to whether or not to make a decision

27
Q

what does the scientific decision making process involve?

A

-recognising that there is a problem or an opportunity
-setting objectives
-setting decision criteria
-developing and identifying alternatives
-comparing alternatives by analysing data
-choosing and implementing the course of action
-reviewing the effectiveness of the decision

28
Q

when may using intuition be appropriate?

A

-when a quick decision is necessary, no time to gather data
-not enough data available
-when the data tells a contradictory story

29
Q

expected value formula

A

(probability1 x outcome1) + (probability2 x outcome2) + …

30
Q

what are expected values?

A

the financial outcomes from a specific course of action adjusted to allow for the probability of it occurring

31
Q

what are net gains?

A

the expected values of a course of action MINUS the costs associated with it

32
Q

what are programmed decisions?

A

decisions that deal with problems that are familiar and where the info required to make them is easy to define and obtain

33
Q

what are non-programmed decisions?

A

decisions that deal with situations that are unstructured and require a unique solution

34
Q

what are the influences on decision making?

A

-the business’s mission and objectives
-ethics
-the level of risk involved
-the external environment
-resource constraints

35
Q

what are ethics?

A

the moral principles which should underpin business decisions and actions

36
Q

what are some internal factors that influence the relationship with stakeholders?

A

-business objectives
-management and leadership styles
-size and ownership of the business

37
Q

what are some external factors that influence the relationship with stakeholders?

A

-market conditions
-the power of stakeholder groups
-government policies

38
Q

how can you manage your relationship with stakeholders?

A

-improve communication
-stakeholder engagement

39
Q

stakeholder mapping

A

-partnership
-participation
-consultation
-‘push’ communications
-‘pull’ communications

40
Q

what is stakeholder engagement?

A

managers involve individuals and groups who may be affected by their decisions

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