management , leadership and decision making
0.0 / 5
- Created by: ManuSB
- Created on: 07-03-24 17:19
what is Managers role
their role is to plan, organise, and coordinate people and resources to follow orders
(Managers have subordinate but leaders have followers)
(Managers have subordinate but leaders have followers)
1 of 85
what is Leaders role
decide on a direction for the firm and inspire & motivate staff to achieve aims that are set
2 of 85
The role of managers:
- Setting objectives (e.g. attendance, financial and growth)
- Analysing (e.g. analyse data for future decisions)
- Leading (e.g. human resources, staff attendance, duties, qualifications)
- Making decisions (e.g. rewards, expansion)
- Reviewing (e.g. app
- Analysing (e.g. analyse data for future decisions)
- Leading (e.g. human resources, staff attendance, duties, qualifications)
- Making decisions (e.g. rewards, expansion)
- Reviewing (e.g. app
3 of 85
Influences on management and leadership styles:
- Company structure and the span of control
-Employees and their skills & abilities
-Nature of the tasks involved
-Employees and their skills & abilities
-Nature of the tasks involved
4 of 85
what is McGregor’s Theory X:
- This is an authoritarian approach to leadership, which is adopted by those leaders who believe that workers dislike work and therefore need to be controlled to improve their performance.
- They tell them what to do and supervise them doing it.
- They tell them what to do and supervise them doing it.
5 of 85
Theory X managers assume that workers:
Are lazy, dislike work and are motivated by money
Need to be supervised and controlled or they will underperform
Have no wish or ability to help make decisions or take on responsibility
Aren’t interested in the needs of the organisation and lack a
Need to be supervised and controlled or they will underperform
Have no wish or ability to help make decisions or take on responsibility
Aren’t interested in the needs of the organisation and lack a
6 of 85
where can this type of management be used
- This can be useful in a crisis or where there are constantly changing workforces and workers need clear instructions and supervision
7 of 85
what is McGregor’s Theory Y:
- This is an approach to leadership that assumes that workers have both initiative and self-control, which can be used to achieve the goals of a business.
-Consequently, the role of management is to maximise the commitment of the workers.
-Consequently, the role of management is to maximise the commitment of the workers.
8 of 85
Theory Y managers assume that workers:
Have many different needs, enjoy work, and seek satisfaction from it
Will organise themselves and take responsibility if they are trusted to do so
Think that poor performance is due to boring and monotonous work and poor management
Wish to, and sh
Will organise themselves and take responsibility if they are trusted to do so
Think that poor performance is due to boring and monotonous work and poor management
Wish to, and sh
9 of 85
Leadership styles: Authoritarian
Autocratic leaders hold onto as much power and decision-making as possible
Focus of power is with the manager
Communication is top-down & one-way
Formal systems of command & control
Focus of power is with the manager
Communication is top-down & one-way
Formal systems of command & control
10 of 85
what do authoritarian leaders use
Use of rewards & penalties
Very little delegation
McGregor Theory X approach
Most likely to be used when subordinates are unskilled, not trusted and their ideas are not valued
Very little delegation
McGregor Theory X approach
Most likely to be used when subordinates are unskilled, not trusted and their ideas are not valued
11 of 85
Leadership styles: Democratic
Focus of power is more with the group as a whole
Leadership functions are shared within the group
Employees have greater involvement in decision-making – but potentially this slows-down decision-making
Leadership functions are shared within the group
Employees have greater involvement in decision-making – but potentially this slows-down decision-making
12 of 85
what do democratic leaders do
Emphasis on delegation and consultation – but the leader still has the final say
-A potential trade-off between speed of decision-making and better motivation and morale
Likely to be most effective when used with skilled, free-thinking and experienced
-A potential trade-off between speed of decision-making and better motivation and morale
Likely to be most effective when used with skilled, free-thinking and experienced
13 of 85
Leadership styles: Paternalistic
Leader decides what is best for employees
Akin to a parent/child relationship – where the leader is seen as a “father-figure”
Still little delegation
Akin to a parent/child relationship – where the leader is seen as a “father-figure”
Still little delegation
14 of 85
paternalistic has positive effects on employees such as
A softer form of authoritarian leadership, which often results in better employee motivation and
lower staff turnover
Typical paternalistic leader explains the specific reason as to why he has taken certain actions
lower staff turnover
Typical paternalistic leader explains the specific reason as to why he has taken certain actions
15 of 85
Leadership styles:- Laissez-faire
Laissez-faire means to “leave alone”
Leader has little input into day-to-day decision-making
Conscious decision to delegate power
Leader has little input into day-to-day decision-making
Conscious decision to delegate power
16 of 85
when is laissez - faire effective
Effective when staff are ready and willing to take on responsibility, they are motivated, and can be
trusted to do their jobs
Managers / employees have freedom to do what they think is best
trusted to do their jobs
Managers / employees have freedom to do what they think is best
17 of 85
Management theories:
- Tannenbaum-Schmidt Continuum Theory
- The Blake Moulton Grid
- The Blake Moulton Grid
18 of 85
Tannenbaum-Schmidt Continuum Theory:
what does the continuum represent
what does the continuum represent
The continuum represents a range of action related to the:
- Degree of authority used by the leader or manager
- Area of freedom available to non-managers
- Degree of authority used by the leader or manager
- Area of freedom available to non-managers
19 of 85
Four main styles of leadership are identified in the Tannenbaum and Schmidt Continuum of Leadership:
tells , sells , consults , join
20 of 85
what does tells represent
leader identifies problems, makes decision and announces to subordinates; expects implementation
21 of 85
what does sells represent
leader still makes decision, but attempts to overcome resistance through discussion & persuasion
22 of 85
what does consults represent
leader identifies problem and presents it to the group. Listens to advice and suggestions before
making a decision
making a decision
23 of 85
what does joins represent
leader defines the problem and passes on the solving & decision-making to the group (which
manager is part of)
manager is part of)
24 of 85
The Blake Mouton Grid:
the position on the Blake Mouton grid is
mapped in terms of
the position on the Blake Mouton grid is
mapped in terms of
- Concern for people (High = 9 Low = 1): This is the degree to which a leader considers the needs of team members, their interests, and areas of personal development when deciding how best to accomplish a task.
25 of 85
how do they map task
- Concern for task (High = 9 Low = 1): This is the degree to which a leader emphasises concrete objectives,
organisational efficiency and high productivity when deciding how best to accomplish a task.
organisational efficiency and high productivity when deciding how best to accomplish a task.
26 of 85
The effectiveness of different styles of
Blake Mouton Grid
Blake Mouton Grid
-The Blake Mouton grid provides a comprehensive analysis of leadership styles, catering to a broad audience due to its format.
- It outlines the motives and impacts of each style, aiding managers in assessing their effectiveness.
- It outlines the motives and impacts of each style, aiding managers in assessing their effectiveness.
27 of 85
disadvantages of Blake Mouton Grid
However, it lacks context appreciation, leading to the condemnation of certain styles that might be suitable in specific situations
28 of 85
the effectiveness of Tannenbaum and Schmidt continuum
- Conversely, the Tannenbaum and Schmidt continuum focuses on delegation and decision-making freedom for subordinates, promoting team development.
-As team autonomy grows, manager authority diminishes, fostering positive delegation skill development for
-As team autonomy grows, manager authority diminishes, fostering positive delegation skill development for
29 of 85
define intuition
the ability to understand something without the need for conscious reasoning
30 of 85
define Scientific decision making:
a logical and research based approach to decision making
31 of 85
Advantages of a scientific approach:
- Provides a clear sense of direction for all involved in the business
- Decisions are made and based on business logic
- It is flexible – at any stage in making a decision, it can be reviewed and changed if needed
- Decisions are made and based on business logic
- It is flexible – at any stage in making a decision, it can be reviewed and changed if needed
32 of 85
The scientific approach vs intuition depends upon:
- Speed of decisions
- Information available
- Size of business
- Predictability of situation
- Character of person or culture
- Information available
- Size of business
- Predictability of situation
- Character of person or culture
33 of 85
define decision trees
a tree like model of the various options available in a decision
34 of 85
Characteristics of decision trees:
- They are good at choosing between several courses of action
- Provides a highly effective structure within which you can lay out options and investigate the possible outcomes of choosing these options
- It uses estimates and probabilities to calculate l
- Provides a highly effective structure within which you can lay out options and investigate the possible outcomes of choosing these options
- It uses estimates and probabilities to calculate l
35 of 85
define Expected Value
formula
formula
the financial value of an outcome.
the estimated financial effect x its probability
the estimated financial effect x its probability
36 of 85
define Net Gain
formula
formula
the value to be gained from taking a decision.
the expected value of each outcome – the costs associated with the decision.
the expected value of each outcome – the costs associated with the decision.
37 of 85
define a decision tree
a tree like model of the various options available in a decision
38 of 85
Advantages of decision trees:
- Evidence to gain a source of finance
- Set out logically
- Easy to understand and results are tangible
- Likely costs considered as well as benefits
- Set out logically
- Easy to understand and results are tangible
- Likely costs considered as well as benefits
39 of 85
Disadvantages of decision trees:
- Always probe to arrow
- Calculating probability can be rad
- Could be inaccurate or unreliable as only estimates
- Doesn’t necessarily reduce the amount of risk
- Calculating probability can be rad
- Could be inaccurate or unreliable as only estimates
- Doesn’t necessarily reduce the amount of risk
40 of 85
The influences on decision making:
- The business’ mission and objectives
- Ethics-this is the desire to act in a way that it morally correct ( these decisions are often not quantifiable and can attract negative publicity for the business)
- Ethics-this is the desire to act in a way that it morally correct ( these decisions are often not quantifiable and can attract negative publicity for the business)
41 of 85
The risk involved on decision making:
Non programmable = high risk – needs to be calculated and not taken on a hunch
Programmable = low risk – can often be made using intuition or a hunch
Programmable = low risk – can often be made using intuition or a hunch
42 of 85
Stakeholder
the different people who are an interest in the business
43 of 85
Stakeholder groups:
- Customers
- Employees
- Investors/banks
- Suppliers/distributors
- Shareholders
- Owners/managers
- Competitors
- The government
- Local communities
- Employees
- Investors/banks
- Suppliers/distributors
- Shareholders
- Owners/managers
- Competitors
- The government
- Local communities
44 of 85
Stakeholder mapping:
-Power = their part in decision making or how much they would negatively affect you
-Purpose = helps you when making decisions and prioritise stakeholders where there will be potential conflict
-Purpose = helps you when making decisions and prioritise stakeholders where there will be potential conflict
45 of 85
Factors that affect stakeholder relationships:
- Quality of products made
- Information available
- How easy it is to communicate with them
- Their status
- Customer service
- Influence or power
- Information available
- How easy it is to communicate with them
- Their status
- Customer service
- Influence or power
46 of 85
How to communicate with stakeholders:
- General meetings
- Letters
- Email and social networking
- Letters
- Email and social networking
47 of 85
Marketing Objectives
the process of identifying, anticipating (predicting), and satisfying customer needs profitably
48 of 85
Marketing Objectives examples
Ensure functional activities consistent with corporate objectives
Provide a focus for marketing decision-making and effort
Provide a focus for marketing decision-making and effort
49 of 85
types of marketing objectives
- Sales volume
- Sales value (revenue)
- Market growth (%)
- Market share (%)
- Brand loyalty/awareness
- Sales value (revenue)
- Market growth (%)
- Market share (%)
- Brand loyalty/awareness
50 of 85
External influences on marketing objectives and decisions:
-Economic environment
- Competitor actions
- Market dynamics
- Technological change
- Social and political change
- Competitor actions
- Market dynamics
- Technological change
- Social and political change
51 of 85
Economic environment
Key determinant of demand; e.g., recession can alter marketing objectives. Exchange rates impact international marketing objectives.
52 of 85
Competitor actions
Marketing objectives must consider likely competitor responses. Increasing market share implies effective competition management
53 of 85
Market dynamics
Influenced by market size, growth, and segmentation. Changes affect marketing objectives; e.g., slow growth may hinder revenue growth objectives.
54 of 85
Technological change
Rapid tech changes affect consumer markets, shorten product life cycles, and foster innovation opportunities.
55 of 85
Social and political change
Legislative changes create or hinder marketing opportunities. Societal structural and attitudinal shifts impact various markets
56 of 85
Internal influences on marketing objectives and decisions
Corporate objectives
Finance
Human resources
Operational issues
Business culture
Finance
Human resources
Operational issues
Business culture
57 of 85
Corporate objectives
Must align with marketing objectives to avoid conflict.
58 of 85
Finance:
Business financial position impacts marketing scope and scale
59 of 85
Human resources
Workforce quality and capacity affect marketing objectives, influencing customer service and productivity
60 of 85
Operational issues
Operations impact cost competitiveness and quality, capacity management influences revenue objectives
61 of 85
Business culture
Marketing-oriented culture focuses on meeting customer needs; production-oriented culture may lead to unrealistic marketing objectives.
62 of 85
Market Research
the systematic and objective collation, analysis, and evaluation of information that is intended to
assist in the marketing process
assist in the marketing process
63 of 85
Primary Market Research (field)
involves the collection of first hand data that did not exist before and therefore it is
original data. It fills gaps that secondary research cannot
original data. It fills gaps that secondary research cannot
64 of 85
Examples of primary research:
- Focus groups
- Interviews (online & in-person)
- Surveys & questionnaires
- Interviews (online & in-person)
- Surveys & questionnaires
65 of 85
Advantages of primary research:
- Directly focused on research objectives = fit for purpose
- Tends to be more up-to-date than secondary research
- Provides more detailed insights – particularly into customer views
- Tends to be more up-to-date than secondary research
- Provides more detailed insights – particularly into customer views
66 of 85
Disadvantages of primary research:
- Time-consuming and often costly to obtain
- Risk of survey bias – research samples may not be representative of the population
- Risk of survey bias – research samples may not be representative of the population
67 of 85
Secondary Market Research (desk)
research that has already been undertaken by another organisation and
therefore already exists
therefore already exists
68 of 85
Sources of secondary research:
- Government publications
- Newspapers
- Magazines
- Company records
- Newspapers
- Magazines
- Company records
69 of 85
Advantages of secondary research:
- Already gathered so may be quicker to collect
- May be gathered on a much larger scale than possible for the firm
- In some cases it can be very cheap or free to access
- May be gathered on a much larger scale than possible for the firm
- In some cases it can be very cheap or free to access
70 of 85
Disadvantages of secondary research:
- Information may be outdated, therefore inaccurate
- The data may be biased and it is hard to know if the information was collected is accurate
- The data may be biased and it is hard to know if the information was collected is accurate
71 of 85
Market Mapping
a framework for analysing market positioning is a ‘market (positioning) map’. A market map
illustrates the range of positions that a product can take in a market based on two dimensions that are important to customers
illustrates the range of positions that a product can take in a market based on two dimensions that are important to customers
72 of 85
Advantages of positioning maps:
- Help spot gaps in the market
- Useful for analysing competitors – where are their products positioned?
- Encourages use of market research
- Useful for analysing competitors – where are their products positioned?
- Encourages use of market research
73 of 85
Disadvantages of positioning maps:
- Just because there is a gap in the market doesn’t mean there is demand for the product
- Not a guarantee of success
- Not a guarantee of success
74 of 85
Sampling
involves gathering data from respondents whose views or behaviours are representative of the target market as a whole
75 of 85
Random sampling
member of target population has an equal chance of being chosen
76 of 85
Quota/Stratified
based on obtaining a sample that reflects the types of consumers from whom the business
wished to gain information (e.g. gender, age)
wished to gain information (e.g. gender, age)
77 of 85
Advantages of sampling:
- Provides a good indication
- Helps avoid expensive errors
- Helps avoid expensive errors
78 of 85
Disadvantages of sampling:
- May be unrepresentative
- Bias
- Difficult to locate suitable correspondents
- Bias
- Difficult to locate suitable correspondents
79 of 85
Extrapolation
it is like an educated guess or a hypothesis
- When you make an extrapolation, you take facts and observations about a present or known situation and
use them to make a prediction about what might eventually happen
- When you make an extrapolation, you take facts and observations about a present or known situation and
use them to make a prediction about what might eventually happen
80 of 85
Disadvantages of extrapolation:
- Less reliable if fluctuations occur (e.g. weather is unpredictable)
- Assumes past changes will continue
- Assumes past changes will continue
81 of 85
Correlations
another method of sales forecasting that looks at the strength of a relationship between two variables
82 of 85
define Positive correlations
Positive correlations means the two sets of data are connected in some way (e.g the closer it gets to
Christmas, the more Christmas trees that are sold)
Christmas, the more Christmas trees that are sold)
83 of 85
define Negative correlations
Negative correlations also means the two sets of data are related but as x increases, y decreases
84 of 85
How technology enables more effective marketing decisions:
Analytics and customer insights
Dynamic pricing
Audience reach and segmentation
Customer relationship management (CRM)
Competitor analysis
Dynamic pricing
Audience reach and segmentation
Customer relationship management (CRM)
Competitor analysis
85 of 85
Other cards in this set
Card 2
Front
what is Leaders role
Back
decide on a direction for the firm and inspire & motivate staff to achieve aims that are set
Card 3
Front
The role of managers:
Back
Card 4
Front
Influences on management and leadership styles:
Back
Card 5
Front
what is McGregor’s Theory X:
Back
Similar Business Studies resources:
1.0 / 5 based on 1 rating
1.0 / 5 based on 1 rating
0.0 / 5
0.0 / 5
2.0 / 5 based on 2 ratings
0.0 / 5
Comments
No comments have yet been made