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)
Written for
University of South Africa (Unisa)
MNB 1501Business Management
All documents for this subject (17)
Seller
Follow
vanrhynavrame
Reviews received
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller vanrhynavrame. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.59. You're not tied to anything after your purchase.
