Managers, leadership and decision making
- Created by: Austen Poole
- Created on: 09-05-17 10:19
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- Managers, leadership and decision-making
- What managers do
- Draw up a plan of action
- Organise work
- Command people under them by giving instruction
- Coordinate resources
- Control activities and people
- Types of management and leadership styles
- Autocratic
- Leaders make decisions without consultation
- Good when quick decisions are needed
- Can be demotivating
- Democratic
- Managers make final decision but the employees are consulted
- Leads to greater job satisfaction and productivity
- This process can be slow
- Lassiez faire
- Employees are given freedom - may develop future leaders
- Some support is given
- Gives great job satisfaction
- Can be damaging if the team does not have the needed skills
- Bureaucratic
- These tend to follow rules and proceedures
- Great if the business has something to do with health and safety
- Not very creative
- Charismatic
- Revolves around a leader who is inspirational
- Sometimes the leader thinks they are invincible - this can be damaging
- The Tannenbaum Schmidt continuum
- The Blake Mouton grid
- Country club management
- High concern for people and little concern for production
- Team management
- Leaders focus on both people and task
- MIddle-of-the-road management
- Leaders try to maintain the balance between both
- Impoverished management
- Little concern for task or people - they are ineffective
- Task management
- Leaders have more interest in the task than the people
- Country club management
- Autocratic
- Influences on management and leadership
- The type of business will effect the style adopted
- The personality of the leader
- The circumstance the business finds itself in - quick decisions may have to be made
- Understanding management decision-making
- Scientific decision making
- Decisions made using data
- Decision trees
- These contain all the possibilities on the same diagram
- Net gain = probability x payoff - cost
- They start off with a box and then move to circles
- They can be inaccurate if the data is wrong or bias
- Intuitive decision making
- Decisions made using a hunch
- Used when launching a totally new product to the market
- Opportunity cost = the cost of an alternative that the business did not take
- Scientific decision making
- Influences on decision making
- Mission and objectives
- Ethics
- The external environment
- Competition
- Resource constraints
- Does a business have what it needs to make a decision
- Understanding the role and importance of stakeholders
- Types of stakeholders
- Employees
- Interests: Job security, financial reawrd
- Consumers
- Interests: Quality, value for money
- Shareholders
- Interests: Capital growth, income
- Suppliers
- Interests: Payment, security of orders
- Local community
- Interests: Ethics, social responsibility
- National government
- Interests: Taxation, employment
- Employees
- Possible overlap and conflict of these needs
- sometimes not all the stakeholder groups agree - it is up the company to balance these interests and needs
- Stakeholders can benefit businesses e.g. better quality goods
- Stakeholder mapping
- This is a detail chart / diagram that show all the types of stakeholder and their interests
- This helps the business to see what it needs to satisfy, and what the impacts of a certain decision could be
- By identifying what stakeholders have the most impact on the business, the management can use strategies to keep opposition to any projects low
- Stakeholder relationships
- Influences on stakeholder relationships
- Decisions made by the business
- The attitude of the board
- Financial pressure
- Conflict
- Stakeholders must be kept up to date during projects
- Influences on stakeholder relationships
- Types of stakeholders
- What managers do
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