Leaders + Decision Making

Information and decision making is kept at the top of the organisation and there is minimal delegation
Autocratic leadership
1 of 18
There is two way communication and decisions are made by the majority
Democratic leadership
2 of 18
The leader has minimal inpu into the business and the employees make the majority of decisions
Laissez faire leadership
3 of 18
When decisions are taken jointly by the management team
Partnership
4 of 18
Stakeholders who have high levels of power are involved in decision making
Participation
5 of 18
Involves finding out the views of relevant stakeholder groups
Consultation
6 of 18
Are moral guidelines for business owners and have strong influence on decision making
Ethics
7 of 18
If there is substantial change in the ________________ it may affect decisions
External Environment
8 of 18
If the business does not have the correct resources they cannot make a decision which will have the best outcome
Resource Constraints
9 of 18
Money given to the company in return for a share certificate that gives shareholders part ownership
Ordinary Share
10 of 18
A payment made to shareholders from profits earned
Dividends
11 of 18
The value of outstanding shares in the plc
Market Capitalisation
12 of 18
Anyone that owns at least one share
Shareholders
13 of 18
The price of a single share
Share price
14 of 18
Long term decision which involves major commitment
Strategic decision
15 of 18
Short term decision
Tactical decision
16 of 18
An educated guess that current trends will continue
Extrapolation
17 of 18
A prediction of sales
Forecast
18 of 18

Other cards in this set

Card 2

Front

There is two way communication and decisions are made by the majority

Back

Democratic leadership

Card 3

Front

The leader has minimal inpu into the business and the employees make the majority of decisions

Back

Preview of the front of card 3

Card 4

Front

When decisions are taken jointly by the management team

Back

Preview of the front of card 4

Card 5

Front

Stakeholders who have high levels of power are involved in decision making

Back

Preview of the front of card 5
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