Chapter 2 Definitions

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Business Management (Chapter 2: The nature of management ) Karteikarten am Chapter 2 Definitions , erstellt von Katelyn Gorman am 01/11/2017.
Katelyn Gorman
Karteikarten von Katelyn Gorman, aktualisiert more than 1 year ago
Katelyn Gorman
Erstellt von Katelyn Gorman vor etwa 7 Jahre
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Management style the behaviour and attitude of the manager when making decisions, directing and motivating staff and when implementing plans to achieve business objectives.
Autocratic management style where the manager tells staff what decisions have been made.
Persuasive management style where the manager attempts to sell decisions made.
Consultative management style where the manager consults employees before making decisions.
Participative management style where the manager unites with staff to make decisions together.
Laissez-faire management style where the employees assume total responsibility for, and control of, workplace operations.
Contingency management theory stresses the need for flexibility and the adaptation of management styles to suit the situation.
Management skills the abilities or competencies that managers use to achieve business objectives.
Communicating the ability to transfer information from a sender to a receiver, and to listen to feedback.
Delegating refers to the ability to transfer authority and responsibility from a manager to an employee to carry out specific activities.
Planning the ability to define business objectives and decide on the methods or strategies to achieve them.
Strategic planning long-term planning, usually over two to five years.
Tactical planning flexible, adaptable, medium-term planning, usually over one to two years, which assists in implementing the strategic plan.
Operational planning provides specific details about the way in which the business will operate in the short term.
SWOT analysis involves the identification and analysis of the internal strengths and weaknesses of the business, and the opportunities in, and threats from, the external environment.
Leading the ability to influence or motivate people to work towards the achievement of business objectives.
Decision-making the ability to identify the options available and then choose a specific course of action from the alternatives.
Interpersonal skills refer to the ability to deal or liaise with people and build positive relationships with staff.
Corporate culture refers to the values, ideas, expectations and beliefs shared by members of the business.
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