Business Flashcard

  • Created by: Phatwong
  • Created on: 18-03-18 23:19
Leadership
Setting a new direction or vision for a group that they follow
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Management
Controls or directs people/resources in a group according to principles or values that have been established
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PEST Analysis
Acronym for Political, Economic, Social, and Technological. This analysis is used to assess these four external factors in relation to your business situaton.
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Porter's Five Forces Framework
A tool for analyzing competition of a business.
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Laissez-faire Leadership
type of leadership style in which leaders are hands-off and allow group members to make the decisions.
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Democratic Leadership
type of leadership style in which members of the group take a more participative role inn the decision-making process
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Autocratic Leadership
type of leadership style characterized by individual control over all decisions and little input from group members
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Bureaucratic Leadership
type of leadership style based upon fixed official duties under a hierarchy of authority, applying a system of rules for management and decision-making
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Paternalistic Leadership
a managerial approach that involves a dominant authority figure who acts as a patriarch or matriarch and treats employees and partners
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Rationalisation
a reorganization of a company in order to increase its efficiency
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Ansoff Matrix
a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth
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Decision tree
a graphical representation of a decision making process within a business
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Other cards in this set

Card 2

Front

Controls or directs people/resources in a group according to principles or values that have been established

Back

Management

Card 3

Front

Acronym for Political, Economic, Social, and Technological. This analysis is used to assess these four external factors in relation to your business situaton.

Back

Preview of the back of card 3

Card 4

Front

A tool for analyzing competition of a business.

Back

Preview of the back of card 4

Card 5

Front

type of leadership style in which leaders are hands-off and allow group members to make the decisions.

Back

Preview of the back of card 5
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