E2 Topic 6: Leadership & Management

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CIMA E2 Chapter 6
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E2 Topic 6: Leadership & Management
  1. Fayol - Management Concepts
    1. Planning
      1. Organising
        1. Coordinating
          1. Commanding
            1. Controlling
            2. French & Raven - Power
              1. REWARD - incentives
                1. COERCIVE - threats/punishment
                  1. REFERENT - Respect/personality
                    1. EXPERT - knowledge/qualification
                      1. LEGITIMATE - position in org chart, agreed position
                      2. Authority
                        1. Weber
                          1. CHARISMATIC - individuals personality
                            1. TRADITIONAL - custom & practice
                              1. RATIONAL-LEGAL - position in hierarchy
                              2. Responsibility & Authority need to be in balance. Authority it the right to act, or exercise power, repsonsibility involves an obligation that cannot be delegated
                                1. EMPOWERMENT - employees given autonomy
                                  1. ACCOUNTABILITY - need to justify failure of responsibility
                                2. Delegation
                                  1. Benefits
                                    1. Time management
                                      1. Stress Management
                                        1. Faster decision making
                                          1. Succession planning
                                            1. Employee job satisfaction
                                              1. Deployment of resource based on expertise
                                              2. Reluctance
                                                1. Lack of confidence
                                                  1. Fear of redundancy
                                                    1. Culture
                                                      1. Desire to keep control
                                                        1. Seen as ineffective time management (quicker to do it myself than explain)
                                                          1. Fear of overload
                                                          2. Process
                                                            1. 1. Specify performance required
                                                              1. 2. Formally assign tasks
                                                                1. 3. Allocate resources and authority
                                                                  1. 4. Performance mentoring (TARA)
                                                                2. Mintzberg - Roles of Management
                                                                  1. Interpersonal
                                                                    1. FIGUREHEAD - Symbolic role
                                                                      1. LEADER - Relationship with subordinates, allocating tasks
                                                                        1. LIAISON - Network of contacts outside command chain
                                                                        2. Informational
                                                                          1. MONITOR - Collects information to gain understanding
                                                                            1. DISSEMINATOR - Distributor of information
                                                                              1. SPOKESPERSON - Transmits information to external groups
                                                                              2. Decisional
                                                                                1. ENTREPENEUR - Looking at problems opportunities for improvement
                                                                                  1. DISTURBANCE HANDER - Respond to pressures out of control
                                                                                    1. RESOURCE ALLOCATOR - Choose among competing demands for different resources
                                                                                      1. NEGOTIATOR - takes charge when in external negotiations
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