Managers, Leadership and Decision-Making
- Created by: Jodie_charnock
- Created on: 18-01-18 09:59
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- Unit 2 - Managers, Leadership and decision-making
- What managers do?
- Role
- Setting objectives
- Analysing
- Leading
- Making decisions
- Reviewing
- Role
- Types of leaders
- Autocratic
- Leader makes a decision without consultation
- Democratic
- Leader consults his team but makes the final decision
- Paternalistic
- Leader acts in a fatherly way towards the workforce - makes decisions based on the needs of the workers
- Laissezz-Faire
- Leader allows his team to make decisions
- Bureaucratic
- Leaders work to rules and regulations
- Leadership models
- The Tannembaum Schmidt
- The Blake Mounton Grid
- 1,1 - Impoverished
- 1,9 - Country Club
- 5,5 - Middle of the Road
- 9,9 - Team Management
- 9,1 - Authority
- Autocratic
- Decisions
- Tactical
- Short term
- Easy to revearse
- Taken by middle/junior managers
- Strategic
- Long term
- Difficult to revearse
- Involve lots of resources
- Taken my senior managers
- Intuitive (Hunch)
- Scientific
- Risks, Uncertainties and Costs
- Risks
- It is possible to add a profitability to quantify the degree of risk - it is measurable
- Uncertainties
- It is not possible to add a quantifiable probability as the outcome is unknown - it is not measurable
- Opportunity Cost
- What a business gives up when making a decision - it is the next best option
- Risks
- Tactical
- Decision Trees
- Advantages
- Clearly shows options
- Encourages logical thinking
- Takes risks into account
- May raise alternative factors
- Disadvantages
- Estimates may be biased
- Doesn't take qualitative factors into account
- Relies on estimates
- Advantages
- What managers do?
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