Summary Introduction to Business Management, ISBN: 9780195992519 MNB 1501-Business Management 1A
Summary Introduction to Business Management, ISBN: 9780195992519 MNB 1501Business Management
Summary Introduction to Business Management, ISBN: 9780195992519 MNB 1501Business Management
All for this textbook (17)
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University of South Africa (Unisa)
MNB 1501Business Management
All documents for this subject (17)
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1.Leading
1.1.Key concepts
Nature of leadership, leadership characteristics, leadership, authority, leadership models,
Maslow’s theory, components of leadership task, factors influencing power, motivation,
kinds of groups, communication.
1.2.Nature of leadership
LO1: Analyse leadership as a management task by:
• Explaining the meaning of leadership, authority, power, influence, delegation,
responsibility and motivation
• Differentiating between leadership and management.
Leadership
• Influencing & directing behaviour of subordinates in such a way that
o Influencing: communicate ideas, gain acceptance & inspire followers to
support & implement idea (relationship)
• They willingly strive to accomplish goals/objectives of organisation
Leaders Managers
Lead & direct Plan, organise & control
Create & articulate vision & change Implement vision, change & policy
Innovate Administer
Develop Maintain
Inspire Control
Do the right things Do things right
1.3.Components of the leading function
1.3.1.Authority
• Right to give commands & demand actions from employees
• Formal authority – linked to position
• Informal authority – acceptance by subordinates
, 1.3.2.Power
• Manager’s ability to influence employee behaviour
• Position power (chain of command)
o Coersive power
o Enforce compliance through fear
o Psychological, emotional or physical
o Fear of retrenchment or exclusion
o Reward power
o Manager’s ability to influence employees with something of
value to them
o Power to give or withhold rewards
o Salary, bonus, praise, recognition, allocation of interesting
assignments.
o Legitimate power
o Power organisation grant to particular position
• Personal power (followers bestow on person)
o Referent power
o Manager’s personal power/ charisma
o Employees obey: like , respect & identify with manager
o Leader’s personal characteristics makes him/her attractive
o Expert power
o Power given by manager’s expertise, knowledge &
professional ability over those who need knowledge or
information
1.3.3.Responsibility
• Obligation to achieve organisational goals by performing required activities
1.3.4.Delegation
• Process of assigning responsibility & authority for achieving organisational goals
1.3.5.Accountability
• Evaluation of how well individuals meet their responsibilities.
1.4.Leadership theories
LO2: Discuss basic leadership models by referring to the factors influencing effective
leadership.
1.4.1.Trait theory
• Suggests certain leadership characteristics are common to all successful leaders
• In practice, traits differ significantly
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