Business Leadership Exam Review Complete with A+ Graded Answers
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Business Leadership
Business Leadership Exam Review
Performance criteria and the new economy
- Part of globalization meaning that the world is more connected than ever, with resources, products, and businesses being linked on a global scale.
- Organizations are expected to do well in various areas, including bein...
business leadership exam review performance criter
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Business Leadership Exam Review
Performance criteria and the new economy
- Part of globalization meaning that the world is more connected than ever, with resources, products,
and businesses being linked on a global scale.
- Organizations are expected to do well in various areas, including being ethical, socially responsible,
innovative, and developing their employees, not just focusing on traditional measures like profit.
- High-performance leadership is crucial in this environment. Leaders need excellent people skills, an
understanding of the information and service-driven society, awareness of international aspects, and
a commitment to work-life balance.
Intellectual Property (IP)
- Valuable ideas and creations that come from being innovation and creative, and leaders play a vital
role in protecting, managing, and leveraging these assets for organizational success.
Glass Ceiling
- A metaphor alluding to the invisible barriers that prevent minorities and women from being
promoted to top corporate positions.
Globalization
- The process by which businesses or other organizations develop international influence or start
operating on an international scale.
Upside-down pyramid
- When organizations puts customers at the top and being served by non managerial workers, who
are supported by team leaders and higher-level managers
Classical management approach
- Classical management approaches refer to a set of theories and principles developed during the late
19th and early 20th centuries that laid the foundation for modern management practices. There are
three major contributors to classical management thinking:
1. Scientific Management (Frederick Taylor):
Focuses on optimizing efficiency in the workplace by scientifically analyzing and standardizing work
processes.
2. Administrative Principles (Henri Fayol):
Emphasizes a more general set of management principles, including functions like planning,
organizing, commanding, coordinating, and controlling.
3. Bureaucratic Organizations (Max Weber):
Advocates for a bureaucratic organizational structure characterized by a clear hierarchy, well-defined
roles, and standardized procedures.
Scientific Management (FREDERICK TAYLOR)
- A management theory using efficiency experts to examine each work operations and find ways to
minimize the time needed to complete it
, Motion Studies: Frank & Lillian Gilbreth
- Frank and Lilian Gilbreth are known for their use of motion studies to simplify work, into scientific
management
- Motion study: Breaking each task or job into its separate motions and then eliminating those that
are unnecessary or repetitive.
- Frank worked for brick-laying and tried to find the most efficient ways to lay bricks, turned to using
motion study to simplify work, improve productivity.
- Lilian: originating ways to improve office communication, incentive programs, job satisfaction, and
management training. Her work also convinced the government to enact laws regarding workplace
safety, ergonomics, and child labor.
Max Weber
- Weber defined bureaucracy: a rational and efficient form of organization founded on logic, order,
and legitimate authority.
- Weber envisioned bureaucracy as an organized and fair system that values efficiency, order, and
meritocracy.
Maslow's Hierarchy of Needs
- (Level 1) Physiological Needs,
- (Level 2) Safety and Security,
- (Level 3) Relationships, Love and Affection,
- (Level 4) Self Esteem,
- (Level 5) Self Actualization
Argyris
- Argyris proposed that management should adapt to the mature adult personality by providing more
responsibility, task variety, and involving employees in decision-making processes
Forecasting
- Forecasting involves making predictions about the future, and there are qualitative and quantitative
methods, both relying on human judgment. Planning then deals with how to handle the outcomes of
these predictions.
- Qualitative Forecasting: Uses expert opinions and subjective insights.
- Quantitative Forecasting: Uses mathematical and statistical analysis for predictions.
Contingency Planning
- Contingency planning is about thinking ahead and having backup plans ready in case things don't go
as expected.
Scenario Planning
- To Consider various potential futures and making plans for each, whether they are positive or
challenging.
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