What is management?
the work of directing a business organisation’s resources to achieve business objectives
What are the 5 functions of management?
planning, organising, coordinating, controlling, commanding
What is leadership?
the use of strategic and creating thinking to inspire people to meet challenges and accomplish goals; visionary role
What are the five leadership styles?
autocratic, paternalistic, laissez-faire, democratic, stituational
What is autocratic leadership?
the leader is fully responsible of all decision making an demployees have no say
What is advantage and disadvantage of autocratic leadership?
decision making is quick and clear
employees ideas and feedback may not be welcomed, leading to low motivation levels
What is paternalistic leadership?
the leader treats employees as though they are part of the family. they expect loyalty in return
What is advantage and disadvantage of paternalistic leadership?
builds loyalty and sense of belonging
employees might get too comfortable; if an employee makes a mistake, leader may let it go easily
What is laissez faire?
leader allows employees to have all the freedom in decision making
What is advantage and disadvantage of laissez faire leadership?
employees are more motivated and independant
interest of individuals may differ from values of the business; an inexperienced employee will feel lost when nobody tells them what to do
What is democratic leadership?
employees participate in decision making, but the leader has the final say
What is advantage and disadvantage of democratic leadership?
employees will feel motivated and part of the business
decision making will take longer
What is situational leadership?
the leader adopts a suitable leadership style depdning on place, time people, and nature of project
What is advantage and disadvantage of situational leadership?
good for emergency situations to be more convenient
constantly changing leadership styles may be confusing for employees
What is scientific thinking/management?
decision making using quantitative research and techniques
What are the benefits and limiations of using scientific thinking/management?
using scientific management is efficient, accurate, and less bias in decision making
incorrect assumptions being made, difficulty obtaining data, slower process
What is intuitive thinking/management?
making decisions based on intuition
What are the benefits and limiations of using intuitive thinking/management?
faster, suitable in emergencies
not based on data, very risky
