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Business > Unit 3: management skills > Flashcards

Unit 3: management skills Flashcards

1
Q

management

A

involves getting people to work together for a common organisational goal using the skills of leading, motivating and communicating

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2
Q

management skills

A
  1. leading
  2. motivating
  3. communicating
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3
Q

characteristics of a manager

A
  1. problem solving ability
  2. flexibility
  3. charisma
  4. hard working
  5. initiative
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4
Q

leading

A

management skill that encourages people to work towards a common organisational goal. managers choose between autocratic, democratic and laissez faire leadership styles

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5
Q

autocratic leadership

A

management style where manager makes all business decisions without input from employees. does not trust employees and uses threat and punishment to motivate. does not delegate

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6
Q

benefits of autocratic

A
  1. quick decision making
  2. quick task completion
  3. improved productivity
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7
Q

disadvantages of autocratic

A
  1. management stress
  2. staff motivation
  3. industrial action
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8
Q

democratic leadership

A

encourages employees to participate in decision making. manager has ultimate authority but values employee input. delegates tasks to employees and trust/empower employees. employees feel valued and are motivated

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9
Q

benefits of democratic

A
  1. increased intrapreneurship
  2. future promotion
  3. employee motivation
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10
Q

disadvantages of democratic

A
  1. slow decision making
  2. frustrated employees
  3. management resentment
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11
Q

laissez faire leadership

A

management outlines business goals and trusts employees to decide on the best way to achieve these goals (overall responsibility lies with manager). empower employees to make decisions. no close supervision. highly motivated employees as they feel empowered to achieve goals.

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12
Q

benefits of laissez faire

A
  1. employee motivation
  2. improved skills and knowledge
  3. intrapreneurship
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13
Q

disadvantages of laissez faire

A
  1. reduced productivity
  2. poor decisions
  3. poor industrial relations
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14
Q

delegation

A

involves assigning tasks to another person. requires:
1. open communication
2. employee skills and experience
3. managerial control

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15
Q

advantages of delegation

A
  1. management workload
  2. increased employee motivation
  3. develop skills/knowledge
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16
Q

disadvantages of delegation

A
  1. employee stress
  2. poor decision making
  3. employee resentment
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17
Q

benefits of leadership

A
  1. achieving organisational goals
  2. management time
  3. increased employee motivation
  4. supporting change
  5. staff recruitment and retention
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18
Q

motivation

A

a willingness to do something e.g. work

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19
Q

maslows hierarchy of needs

A
  1. physiological needs
  2. safety needs
  3. social needs
  4. esteem needs
  5. self actualization needs
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20
Q

physiological needs

A

need for food shelter and warmth e.g:
1. fair days wage
2. bonus payments
3. profit sharing schemes

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21
Q

safety needs

A

the need to feel safe and secure e.g:
1. long term employment contracts
2. health insurance cover
3. safe working environment

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22
Q

social needs

A

the need for friendship and love:
1. flexitime arrangements
2. work in teams
3. social events

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23
Q

esteem needs

A

the need for status, respect, appreciation:
1. praise
2. job titles
3. office of their own

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24
Q

self actualization needs

A

the need to achieve one’s full potential and be the best one can be:
1. career plan
2. development opportunities
3. empowerment

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25
Q

advantages of maslows

A
  1. rewards (motivated by more than money)
  2. changing employee needs
  3. management positions
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26
Q

limitations of maslows

A
  1. individual needs (assumes everyone has same needs)
  2. self actualization (varied person to person)
  3. value of needs (not all needs of equal value)
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27
Q

McGregor’s theory X

A

negative. employees dislike work, avoid taking responsibility, lack ambition, motivated by money. autocratic style of leadership

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28
Q

implications of theory x

A
  1. demotivated workforce
  2. poor time management
  3. high labour turnover
  4. low quality goods and services
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29
Q

Theory Y

A

employees like work, willing to work hard, want additional duties and responsibility, ambitious, motivated by financial and non financial rewards. democratic or laissez faire style

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30
Q

implications of theory Y

A
  1. motivated workforce
  2. management time
  3. low labour turnover
  4. high quality goods and services
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31
Q

advantages of McGregor’s theory

A
  1. employee motivation
  2. recruitment and selection
  3. improved industrial relations
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32
Q

limitations of mcgregors theory

A
  1. unrealistic
  2. high staff turnover
  3. less intrapreneurship
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33
Q

importance of motivation

A
  1. improved productivity
  2. less staff turnover
  3. less absenteeism
  4. better business rep.
  5. less industrial relations conflict
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34
Q

communication

A

the exchange of information between two or more parties. The sender of the information uses words, images and/or sounds to turn an idea into a message to be received. the receiver then processes the message and takes action

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35
Q

formal communication

A

carried out through formal channels of communication

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36
Q

informal communication

A

info passed through informal network within organisation (grapevine)

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37
Q

internal communication

A

communication between two or more people within an organisation e.g. upward, horizontal, downward

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38
Q

chain of command

A

the path of authority along which instructions are passed - from top management down to subordinates

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39
Q

external communication

A

takes place between the business and external stakeholders

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40
Q

Principles of effective communication

A
  1. accuracy (facts + up to date knowledge)
  2. appropriate language (avoid jargon)
  3. preparation (research topic + audience)
  4. confidentiality (method should reflect confidentiality)
  5. feedback (reduces likelihood of misunderstanding)
  6. eliminate noise (background distractions)
  7. suitability of medium (should suit message)
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41
Q

role of communication in business management (internal)

A
  1. managers: com. between managers ensure they have necessary info - better decision making
  2. employees: staff know their roles/responsibilities - reduces confusion + staff aware of standards
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42
Q

role of communication in business management (external)

A
  1. consumers: about new/existing products - increases loyalty + boosts sales
  2. investors: honest financial info increases trust + possible further investment
  3. local community: sponsoring local events + including them in decisions regarding expansion
  4. suppliers: to ensure correct amount of materials at right time - reduced disruption
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43
Q

verbal communication

A

the exchange of information and ideas in speech

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44
Q

advantages of verbal communication

A
  1. fast communication
  2. repeat the message
  3. personal connection
  4. powerful impact
  5. instant feedback
  6. messages can be explained
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45
Q

disadvantages of verbal communication

A
  1. no record
  2. not listening
  3. lack of preparation
  4. message length
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46
Q

written communication

A

involves using the written word to transfer information between people e.g. emails, letters, reports

47
Q

advantages of written communication

A
  1. permanent record
  2. can be used as reference
  3. speed (IT)
  4. accurate/prepared in advance
48
Q

disadvantages of written communication

A
  1. slow feedback
  2. lack of security/confidentiality
  3. increased cost
  4. delays decision making
49
Q

visual communication

A

involves using images, graphs, photos, maps, and symbols to communicate messages

50
Q

advantages of visual communication

A
  1. easy to understand
  2. easy to recall
  3. aid other forms of communication
51
Q

disadvantages of visual communication

A
  1. expensive/time consuming to prepare info
  2. cannot be used alone
  3. over use can be distracting and lead to missing of key info
52
Q

meetings

A

a gathering of at least two people to discuss a topic or topics with the purpose of making a decision on matters discussed

53
Q

reasons to hold a meeting

A

-sharing info
-decision making
-problem solving

54
Q

notice

A

an invitation for people to attend a meeting. informs them of date, time and venue

55
Q

agenda

A

list of items to be discussed at the meeting. topics listed in the order they will be discussed

56
Q

matters arising

A

the opportunity to discuss items arising from the previous meeting

57
Q

AOB

A

any other business- gives people at the meeting the opportunity to bring up a topic they want to discuss that is not on the agenda

58
Q

minutes

A

a record of the meeting. taken by the secretary of the meeting and provide a summary of what was discussed, the people present and what decisions were made

59
Q

chairperson (meeting)

A

responsible for opening, running and closing a meeting. elected by the attendees of a meeting

60
Q

roles of a chairperson (meeting)

A

-draws up notice/agenda
-opens meeting
-runs meeting
-calls for votes
-closes meeting
-casting vote in event of tie

61
Q

quorum

A

the minimum amount of people needed present for a meeting to begin. if not reached, meeting postponed. prevents small number of people making decisions that affect entire org.

62
Q

characteristics of a good chairperson (meeting)

A

unbiased, knowledgeable, good time management, good communicator

63
Q

secretary (meeting)

A

responsible for organising the meeting (administratively)

64
Q

role of the secretary (meeting)

A

-arranges venue
- sends notice and agenda to attendees
-takes minutes
-correspondence (paperwork)
-assists chairperson

65
Q

characteristics of a good secretary (meeting)

A

organised, discreet, good at summarising

66
Q

AGM

A

annual general meeting: held once a year, attended by directors and shareholders of a limited company
-shareholders elect BOD and appoint auditors
-SHs given chance to ask BOD about firms policies

67
Q

EGM

A

extraordinary general meeting: meeting of BOD and SHs to discuss an urgent issue e.g. takeover bid, that cannot wait until the next AGM. no other matters are discussed

68
Q

board meeting

A

attended by BOD and held at regular intervals, e.g. one month. discuss business performance + outline future plans

69
Q

statutory meeting

A

must be held once in the company’s life - first meeting of the company and SHs informed about business affairs of the firm

70
Q

Ad Hoc meeting

A

takes place at short notice to discuss a matter that has arisen unexpectedly but needs to be resolved quickly

71
Q

General meeting

A

held regularly between management and employees e.g. to discuss planning, sales forecasts and updates on business operations

72
Q

standing order (meeting)

A

rules for the running of the meeting

73
Q

point of order (meeting)

A

when an attendee draws attention to the fact that a standing order has been broken

74
Q

proxy

A

a person who attends the meeting as a rep. of someone who cannot attend - votes in accordance with instructions given by the person

75
Q

memo

A

a short written message used by a business for internal communication (memorandum). used mainly to remind people of items and events

76
Q

business letter

A

formal method of communication, can be external or internal. used when:
-content is important
-written record is required
-complex instructions need to be given

*know how to write + format

77
Q

reports

A

a formal written document used to present data and info to the people who requested it to be written e.g. market analysis report for sales manager. can be written for
-investigation
-information
-solution
-impact of a decision
-convince readers

78
Q

forms of visual communication

A
  • bar/pie chart
  • pictogram (bar chart but with pictures)
    -line graph (time trend graph)
    -Gantt chart
    -maps
79
Q

factors to consider when choosing a method of communication

A
  1. cost (most value at least price)
  2. appropriate language/clarity for audience + visual aids if content is technical
  3. urgent messages require faster methods
  4. confidentiality e.g. encrypted emails for sensitive info
  5. is a record required? e.g. formal record of feedback eliminates misunderstandings
80
Q

barriers to effective communication

A
  1. timing (insufficient time to process/respond) -> sender should not expect immediate feedback
  2. language (jargon/too technical) -> use simple language
  3. information overload (unconcise info can lead to main points being lost) -> keep info concise and relevant
  4. not listening -> summarise + repeat main points
  5. lack of trust (may not believe message) -> team building/training
  6. outside noise
  7. unclear organisational structure (i.e. message isn’t passed directly to receiver
  8. lack of feedback (queries unanswered + confusion -> build in feedback mechanism
81
Q

advantages of effective communication

A
  1. productivity (employees know exactly what they have to do/clear instructions)
  2. industrial relations (no confusion over standards, issues can be resolved quickly)
  3. customers have better experience doing business with firm
  4. improved decision making
  5. employee morale (clear instructions + listened to by management)
  6. suppliers (maintain adequate level of supply)
82
Q

ICT

A

information and communications technology: the use of computers and other electronic tech. to store, transfer, access and manipulate (STAM) info.

83
Q

the internet

A

global network of computers that enables people to share and transfer data, text, pictures and videos instantly anywhere in the world (net or www)

84
Q

advantages of the internet

A
  1. fast communication
  2. reduce costs e.g. by selling through its own website
  3. improves decision making as quick access to info
  4. improved productivity as quick access to info
  5. advertising
85
Q

disadvantages of the internet

A
  1. hacking (may steal confidential info)
  2. fake news/difficult to verify accuracy of info -> may lead to bad decisions
  3. expensive to install equipment needed
86
Q

email

A

enables messages to be sent electronically around the world

87
Q

advantages of email

A
  1. fast decision making
  2. lower cost e.g. no cost of paper etc.
  3. time saving e.g. send to multiple people at once
  4. accessibility (can be sent any time) -> increased productivity
  5. can be stored to keep record of info (proof of comm.)
88
Q

disadvantages of email

A
  1. viruses can damage firms computer system e.g. delete data
  2. incorrect address e.g. loss of confidentiality
  3. phishing (fake email claiming to be from legit business, sent to person to scam them for info e.g. bank details)
  4. spam wastes time
89
Q

phishing

A

an attempt to illegally gain access to passwords and usernames for credit cards and bank accounts with the intention of stealing money

90
Q

EDI

A

computer to computer communication. enables businesses to communicate info such as orders, invoices and payments electronically rather than using paper methods. documents can be transferred without human intervention e.g. automatic message sent to supplier (JIT)

91
Q

advantages of EDI

A
  1. reduced cost (of labour)
  2. limits human error
  3. speed (transactions processed quickly)
  4. stock control e.g. JIT ensures business does not carry too much stock -> reduces costs
92
Q

disadvantages of EDI

A
  1. expensive to install hardware/software + maintenance costs
  2. only cost effective for businesses that buy and sell in large volumes
  3. not always compatible (must have alternative systems for suppliers that don’t use EDI)
  4. industrial relations disputes e.g. over redundancies
93
Q

cloud computing

A

use of remote servers, hosted on the internet, to store, manage, and process data. enables data to be accessed anywhere at any time, as long as the user has the necessary passwords e.g. icloud

94
Q

advantages of cloud computing

A
  1. less expensive than operating own server
  2. global access
  3. software updates carried out by server (no maintenance costs for business)
  4. data security (data is backed up)
95
Q

disadvantages of cloud computing

A
  1. internet outages
  2. security (info can be hacked)
  3. cost (storage cost + service fees)
  4. difficult to change service providers as CC firms use different platforms
96
Q

video conferencing

A

enables people in different locations to participate in virtual face to face meetings where they can see and hear each other. e.g. skype

97
Q

advantages of video conferencing

A
  1. cost savings e.g. travel + accomodation
  2. speed (organised quickly)
  3. more regular meetings can be held due to cost savings
  4. meetings conducted in real time from anywhere in the world
98
Q

disadvantages of video conferencing

A
  1. expensive to install/maintain equipment + training costs
  2. technical problems can delay decision making
  3. scheduling meetings between time zones can be difficult
  4. not very personal and may take longer to build trust
99
Q

social media

A

consists of computer programs and websites that enable people to create and share content such as messages, images and videos around the world e.g. instagram

100
Q

advantages of social media

A
  1. large audience
  2. low cost (no sign up fee + easy to use)
  3. can be used to gather consumer info e.g. likes, comments, polls
  4. consumer loyalty (creates more personal relationship as they can interact)
101
Q

disadvantages of social media

A
  1. difficult to measure the effectiveness and monetary value of SM accounts
  2. negative feedback damage firm’s rep.
  3. hacking + takes long time to rebuild following
  4. time intensive
102
Q

computer software applications

A
  1. word processing e.g. word
  2. spreadsheet e.g. excel
  3. database e.g. MS access
  4. presentation package e.g. powerpoint
  5. desktop publishing (DTP) e.g. MS publisher
103
Q

CAD

A

computer aided design – revolutionised design process and easier for businesses to react quickly to customer needs. allows designs to be saved, changed, and reworked without starting from scratch. product designs can be sent abroad to be tweaked by local designers

104
Q

ISDN

A

integrated services digital network: uses telephone lines to communicate, transmit and receive digital info e.g. file transfer, teleworking, video conferencing, email etc.

105
Q

intranets and LANs

A

local area networks: allow employees within an org to communicate more efficiently, without paperwork

106
Q

benefits of ICT for business

A
  1. faster communication/decision making
  2. better teamwork
  3. cost savings e.g. selling online reduces cost of renting shop space and employing staff
  4. staff morale (workplace tasks easier -> increased productivity)
  5. improved quality (e.g. CAD -> reduces complaints + improves rep.)
107
Q

challenges of ICT for business

A
  1. security issues e.g. hacking (should backup/encrypt data)
  2. system breakdown -> loss of productivity or sales e.g. site crashes
  3. expensive to install/maintain ICT systems
  4. industrial relations e.g. fear of redundancy
  5. loss of human element e.g. automated checkouts
108
Q

GDPR 2018

A

General data protection regulation 2018: EU-wide regulation that strengthens the rights of individuals and places more obligations in terms of data protection on orgs. that hold data

109
Q

GDPR 2018 terms

A

-data subject (who data is about)
-personal data (any info relating to data subject e.g. name/address)
-data controller (the person in the firm who decides what data is collected and how it’s processed)
-data processor (org. or person who processes the data on behalf of data controller)
-DPC

110
Q

DPC

A

data protection commission: supervisory authority responsible for monitoring the application of the GDPR

111
Q

rights of data subjects (GDPR)

A
  1. right of access (obtain details on why and how their data is being processed by an org.)
  2. copy of data (have/obtain a copy of data held on them. must be provided electronically within 1 month of req.)
  3. correction of data (to have incorrect/incomplete data corrected)
  4. erasure of data (to have data deleted if no legit. reason to keep it)
  5. complain to DPC (if they believe there has been a breach of the GDPR)
112
Q

responsibilities of data controllers

A
  1. data collection (only necessary data)
  2. provide copies
  3. keep data secure e.g. encryption, backups, review security measures
  4. report data breaches to DPC within 72 hours if it could risk rights and freedoms of DSs
  5. appoint data protection officers (DPOs) - should be appointed in orgs. that hold large volumes of personal data e.g. banks, hospitals
113
Q

functions of the DPC

A
  1. monitors and enforces GDPR (order data controllers to provide copies/delete incorrect info)
  2. promotes awareness of GDPR e.g. website/publishes materials e.g. infographics/guidelines
  3. prohibits data transfer outside of ireland in certain circumstances
  4. impose fines (up to 20mil or 4pc of annual turnover for serious breaches of GDPR)
  5. data audits (investigate processes used by data processors and controllers. can enter firm’s premises, speak to relevant staff and inspect/copy info)

Business (10 decks)

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