BUSINESS UNIT 1

Characteristics

• Risk taking
• Time and energy
• Initiative
• Creative skills
• ICT skills

Why do they do it?

•  Responsibilities - if they are parents or look after elderly parents
• Profit - generating as much surplus of revenue over costs as they can
• Satisficers - want reasonable targets rather than maximum success
• Ethics - they want to do something to help the community
• Personal objectives - comfort, convenient hours, creativity, profit, job satisfaction and independence.

Autocratic

• Strict discipline
• Give orders
• Prevents fresh ideas and flexibility

Paternalistic

• Manager has authority
• Likely to say please and thank you when telling workers what to do

Democratic

• Views are sought before the boss takes responsibility

Laissez - Faire

• Maximum independence/responsibility for each worker (left to do things themselves)