Specification Content

Understanding management, leadership and decision making What managers do - roles include; setting objectives, analysing, leading, making decisions and reviewing Types of management and leadship styles and the influences on these - theories include; Tannenbaum Schmidt Continuum and the Blake Mouton Grid Effectiveness of different styles of management and leadership

Understanding management decision making The value of decision making based on data (scientific decision making) and on intuition - scientific decision making includes; understanding and interpretation of decision trees and calculating expected values and net gains. Decision making to include an understanding of; risks, rewards, uncertainty and opportunity cost The use and value of decision trees in decision making Influences of decision making - influences include; mission, objectives, ethics, external environment including competition, resource constraints and bias

Understanding the role and importance of stakeholders The need to consider stakeholder needs when making decisions - stakeholder mapping; comparing stakeholder power and interest Stakeholder needs and the possible overlap and conflict of these needs Influences on the relationship with stakeholders How to manage the relationship with different stakeholders - managing the relationship with different stakeholders includes; communication and consultation