Business managers and leaders

  • Created by: Rukhsana
  • Created on: 12-10-18 14:03
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  • Managers & Leadership
    • Styles of Leadership
      • Autocratic
        • Features: Authorisation
        • Advantages
          • Clear instructions
          • Quick
        • Disadvantages
          • Do not listen to employees
          • Do not want feedback
      • Democratic
        • Features: empowering group members and aiding group decision making.
        • Advantages
          • Ensure people contribute to descisions
          • Provides necessary resources
        • Disadvantages
          • Instructions not as clear
      • Paternalistic
        • Features: Thinks and acts like a father
        • Advantages
          • Interested in security of staff
          • Interested in the social needs of the staff
        • Disadvantages
          • Can be too leanient
      • Bureaucratic
        • Diadvantages
          • Staff would struggle to adapt to new market  and condititons
        • Advantages
          • Cautious and focused
          • Try to avoid mistakes
        • Features: Avoid mistakes, adhere to mistakes
      • Laissez-faire
        • Disadvantages
          • Some leaders can be lazy causing staff to be frustrated
        • Advantages
          • Staff have more freedom
        • Features: Let it be
    • Decision making
      • Blake Mouton
        • Five different types of leadership
          • Country Club - High concern for people, low concern for task
            • Nice person
            • Lack of urgency in getting tasks done
            • Can only survive with no competition as productivity is shockingly low
          • Team Leader - High concern for people, high concern for task
            • Shows interest and trust in staff
            • Determined to succeed
          • Impoverished - Low concern for people, low concern for task
            • No interest in staff or business
            • Laissez-faire management
          • Authoritarian - Low concern for people, high concern for task
            • Likely to succeed in short term: long term staff will leave
            • staff are truly 'human resources' only
          • Middle of the road - Medium concern for people, medium concern for task
            • Best of both worlds, but struggle to succeed at either one
            • OK but not great performance
        • Authors
          • Dr Robert R. Blake
            • Studied Psychology at Uni of Virginia
          • Dr Jane Mouton
            • Studied Pure Maths and Physics at Uni of Texas
        • Strengths of Blake Mouton
          • Number of factors in the model
          • Catergorisation
          • Different labels - easier to compare
      • The Tannenbaum and Schmidt Continuum
        • Strengths of TSC
          • Compare a number of approaches vs types of leadership
          • Helps develop manager skills
          • Helps businesses to judge their own performance
        • The TSC suggests there are loads of different types of leadership and each leader has their own style
      • Strategic Decisions
        • 1. Strategic Analysis
          • Strengths & Weaknesses
          • Potential markets
          • Position & success of competitors
          • How to improve performance
          • What costs & resources involved
          • Chance of success & failure
          • PEST & SWOT analysis
            • Political, Economic, Social, Technological
            • Strengths, Weaknesses, Opportunities, Threats
        • 2. Strategic Choice
          • When you decide between different options
          • Links to investment appraisal
        • 3. Strategic Implementation
          • Where clear action plans and  responsibility is planned for
          • The action plans will need to be costed and resourced
      • Decision Trees
        • Symbols
          • Decision point
            • Square box
          • Options flow out on lines
          • Chance nodes/ alternatives
            • Circle
        • Key Terms
          • Probability
            • Chance of an event occuring
          • Expected Value
            • Financial outcomes of an action adjusted to allow for the probability of it occurring
            • EV Calculation= (Probability1 x Outcome1)+(Probability2 x Outcome2)+...
          • Net Gains
            • Expected value of action minus costs
        • Pros
          • Managers can plan ahead for decisions
          • Probabilities and therefore risk can be weighted up against financial values
          • Logical process not hunch
        • Cons
          • External environment- the highest expected value should be chosen, is it always the right choice
          • Training needed for managers
          • Reliability of data
          • No quantitative data is considered
          • Only estimates
          • Can all decisions be clear?
      • Types of Decision
        • Programmed Decision
          • Same decisions
          • Always follow the same routine
          • Can be done by machines
        • Non-Programmed Decision
          • Non-routine
          • Each decision is different from pervious decision
        • Strategic Decision
          • Long-term decision
          • Usually made by business leaders
        • Tactical Decision
          • Medium-term decision
          • About how to implement strategy
          • Made by business leaders/ managers
        • Operational Decision
          • Short-term decisions
          • About how to implement the tactics
          • Made by most employees
      • Hunch or Intuiton
        • Based on peoples ability to make decisions
        • Based on experience not data
    • Managers vs. Leaders
      • Leaders
        • What's the point of a leader?
          • Make and lead decisions and strategies
          • Organise a team and members of the team
          • Exert influence over others

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