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leadership, maages and decision making

what is autocratic leadership

when one person has full power in a business

what is a paternalistic leadership

a leader considers their suboordinates part of a large extended family

what is a democratic leadership

letting multiple people participate in the decision making

what is a laissez-faire leadership

a hands off approach where leaders trust suboordinates to make informed decisions

what may a choice of leadership depend on

nature of task, personality of leader

what is a decision tree

a mathematical model that shows logical decisions that a business can chose from

give an advantage of a decision tree

gives each option a financial value, making it easier to compare

give a disadvantage of a decision tree

does not consider qualitative factors

what may decision making depend on

resource constraits, competition

what are the two types of decision making

intuition and scientific

what is an advantage of intuition

allows quick decision making

what is an disadvantage of intuition

subject to bias

what is an advantage of scientific

supported by quantifiable evidence

what is an disadvantage of scientific

may require expensive data collection

when might scientific decision making be used

there is a lack of experience,people need persuading,when companies are risk averse

when might intuitive decision making be used

there is a lack of data,decisions need to be quick,decision makers have a vast experience

what is a supplier

a business that sells goods and services to other businesses

what do the suppliers need

regular and dependant orders with reliable payments.

what is a local community

people and businesses that live or are located in the area of a business

what does a local community need

job opportunities and minimal disruptance

what does the government do

collect tax payments,introduce laws and offer grants

what does the government need

compliance with legislation,payment of taxes

what is a creditor

individuals who have lent money to a business

what do creditors need

repayment with interest on time and to make further loans

what are shareholder or owners

a group of people who have invested money into a company

what do shareholders or owners need

high profits and strong dividends payments

what are managers

staff who are responsible for implementing the decisions made by the owners

what do managers need

a reasonable salary and to be empowered to make decisions

what are employees

the labour force of an organisation that are relied on to make goods and services

what do employees need

job security,good working conditions, high pay and promotional opportunities

what is a customer

people who buy goods or services from a business

what do customers need

high quality and wide choice of products, and god custimers service

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