Karteikarten
2 - decision making
Karten in diesem Stapel (35)
- 1describe a theory X managerbelieves staff are lazy, motivated only by money, staff don't want to make decisions, staff lack ambition, authoritarian
- 2describe a theory Y managerstaff want to take responsibility, staff want to be involved in decision making, staff generally enjoy work, staff enjoy working with peers and in a team
- 3who came up with the theory X and Y management typesMcGregor
- 4which 2 leadership styles are theory Xauthoritarian and paternalistic
- 5which 2 leadership styles are theory Ydemocratic and laissez-faire
- 6describe an authoritarian leaderfocus of power is with the manager, communication is top down and one way, formal systems of command and control (hierarchy), use of rewards and penalties, use of little delegation
- 7describe a paternalistic leaderdecides what is best for employees, akin to parent/child relationship, still little delegation, softer form of authoritarian approach
- 8describe a democratic leaderfocus is with the group as a whole, leadership functions are shared with the group, employees have greater involvement in decision making, emphasis on delegation and consultation, decision making is slower but morale is higher
- 9describe a laissez-faire leaderlittle input in day-to-day decisions, conscious decision to delegate power, managers/employees have freedom to do what they think is best, effective when staff are willing to take responsibility
- 10describe a tells leaderidentifies problems, makes decisions and announces to subordinates, expects implementation (authoritarian)
- 11describe a sells leaderstill makes decisions but attempts to overcome resistance through discussion and persuasion (paternalistic)
- 12describe a joins leaderidentifies problem and tells group, listens to advice and suggestions before making a decision (democratic)
- 13describe a consults leaderdefines problem and passes on the solving and decision making to the group (laissez-faire)
- 14what are the leaders on the Blake Mouton gridimpoverished (low staff and production)
authoritarian (high production and low staff)
team leader (high both)
country club (high people and low production) - 15what is the worst type of leader on the Blake Mouton grid and whymiddle of the road as it is unpredictable
- 16give some influences on management and leadership stylepersonal value systems, managers experience, confidence in subordinates, feelings of security, nature of the business and its problems, type of organisation, effectiveness of teams and groups, skill and experience of subordinates, pressure
- 17define opportunity costthe next best alternative forgone
- 18define expected valuemonetary value of an outcome or decision
- 19how do you calculate expected valuemonetary value of the outcome x probability of the outcome occuring
- 20define net gainvalue to be gained from making a decision
- 21give 3 benefits of scientific decision makingreliable and logical, reduces bias, can back up your ideas with reason
- 22give 4 benefits of intuitionquick, can cost nothing, can become open to new ideas, based on personal experience
- 23what risks are associated with decision makingbusiness could use profit, could lose customers, could damage reputation, business failure, decrease market share
- 24what rewards are associated with decision makinggain customers, increase profit, growth, innovation, brand loyalty
- 25what uncertainties are associated with decision makingnever know hoe people will react (demand?), funding, competitor reactions
- 26give the 6 steps of scientific decision makinggather data, analyse data, select option, implement decision, review, set objectives
- 27what is the equation for net gainexpected value - cost
- 28give 4 influences on decision makingprevious decisions from other businesses, costs, risk of failure, experience in the field
- 29name 4 internal stakeholdersshareholders, employees, managers and trade union
- 30give 6 external stakeholderscustomers, suppliers, banks and investors, local community, environmental pressure groups, govenment
- 31what is an overlapping needwhen 2 stakeholders share the same wants/interest in a business
- 32what is a conflicting needwhen needs of stakeholders don't agree, e.g. managers want to cut costs but employees want good pay
- 33describe the stakeholder mapkeep informed (high interest and low power)
key players (high interest and power)
keep satisfied (high power and low interest)
minimal effort (low interest and power) - 34what are some influences on relationships with stakeholdershow much power or status they have, how much control they have regarding resources relevant to the project, if the are involved with the decision making process, how much knowledge they have on the subject, how many conflicting or overlapping needs they have, internal/external?
- 35—
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- Beschreibung
- A level Business Studies Karteikarten am 2 - decision making, erstellt von Olivia Harlington am 19/02/2020.
- Erstellt von
- Olivia Harlington
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