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what managers do

Set objectives

Analysing

Leading

Making decisions

Reviewing

Autocratic-decisions making at top of organisation, close supervision of employees, slow decision making

Democratic- business operates by decisions made by majority, subordinates have more control

Laisse-faire-leader has minimal input, highly confident employees

tannenbaum schmidt continuum-relationship between level of freedom and decision making that managers choose to give to employees

blake mouton grid

impoverished-not committed to either task, allow team to do whatever

authoritarian-hard on workers, expect people to do what they are told

team leader-encourage team to work to the best of they abilities

country club-reward power to maintain discipline, not too harsh

middle of the road-adapt to each in different situations

opportunity cost- cost of the next best alternative foregone

scientific approach-uses information to make decisions, expensive, uses data, reduces risk

intuition approach-uses instinct to make decisions, quick, lacks vision, used when not enough data

decision tree-expected value- (probability 1 x outcome 1) + (probability 2 x outcome 2)

net gain-expected value - costs

stakeholder- a person or group that has an interest or concern in the activities of a business

partnership-asking stakeholder to be directly involved with the business

participation-asking stakeholder to be involved with meetings and decisions

consultation-asking for opinions and considering in decision making

push communications-emails/newsletters informing stakeholders of decisions

pull communications-publishing decisions available if want to view it.