This presentation covers all the of content and all of the learning aims in Unit 6 Principles of Management. Feel free to message me any questions that you have<\/p>\n\n\n\n
Principles of Management
Exam Revision Slides:<\/p>\n\n\n\n
A1 Slides:
Management by objectives:
Managers set and pass objectives that
will help the organisation achieve its
business goals. These are delegated to
subordinates below the managers, but
managers may also set objectives for
themselves. These objectives need to
be SMART and be re-established
frequently. \u201cChallenging yet achievable
objectives\u201d – Peter Drucker
Transformational and transactional:
Transformational approach is where the
bigger picture is considered and a more
strategic view to achieve goals. This
involves investing time and effect in the
short-term to achieve long-term goals.
Whereas transactional approaches
include is concerned with achieving the
goal quickly and with little disruptions to
normal working processes. Typically a
short-term goal.
Situational and contingency:
Situational is a theory which states that
as the business environment changes,
managers behave differently\/their
behaviour changes with it. Contingency
leadership is where there are already
procedures and standard protocols to
prevent or resolve problems. Paul
Hersey created the situational
leadership model and the contingency
leadership model was devised by Fred
Fiedler.
Functional and action centred:
In any situation where a group of
individuals are trying to achieve the
same goal, one of them will emerge as
a leader to the others.
According to John Adair (1979), action
centred management has three core
responsibilities: (keeping focused on 3
key areas)<\/p>\n\n\n\n
A2 Slides:
Planning:
Managers need to implement strategic
objectives which can only be carried out
through a plan.
Managers need to check the work can
be completed with pre-determined
boundaries.
Controlling:
A manager needs to control their
subordinates effectively to make sure
that they are getting work done and to a
high standard.
Organising:
Managers need to organise certain
tasks and events to certain individuals
to achieve a goal.
Coordinating:
This involves working well with others.
A manager needs to be well
coordinated so that they can effectively
communicate with
subordinates\/co-workers.
Monitoring:
Managers need to monitor their
subordinates and plans so that their
effectiveness can be measured and
changes can be made. This is also
crucial for achieving objectives within
specified time frames.
Functions of
Management:
Delegating:
Every manager will assign tasks to
other employees, this will help them to
achieve a certain goal. To \u2018delegate\u2019
means to \u2018give\u2019 or \u2018pass down\u2019.<\/p>\n\n\n\n
A2 Slides:
Inspiring:
Leaders will inspire other employees to
do well. This increases their motivation
and productivity and will help them to
achieve their assigned tasks.
Envisioning:
A leader envisions the goals and future
of the organisation, they appreciate the
past of the organisation and
inspire\/imagine future possibilities with
others.
Energising:
This is very similar to inspiring. Leaders
will focus more on motivating other
employees and focus more on
guidance.
Influencing stakeholders:
A stakeholder is anyone who is effected
by or is interested in any decision made
by a particular business. Different
stakeholders will have different levels of
influence on business decisions.
Determining best path to achieve
success:
Leaders will almost always strive for
long-term success. This means that
they will take a more transformational
leadership approach.
Functions of
Leadership:<\/p>\n\n\n\n
A3 Slides:
Definition: Vision, Mission and
Values:
These statements form the foundation
for all activities in a business.
The vision statement is where\/what the
business will become in the future\/what
they strive to achieve.
The mission statement is how the
business differentiates itself from other
businesses.
The value statement is the set of
standards in the business such as
diversity or common beliefs.
Management styles:
Is there a more democratic approach or
top down approach?
How does the nature of the business
(industry and operations) effect the type
of leadership\/management style.
Influence of business culture on
management practices:
Leadership and management styles are
fully shaped off of the businesses
culture. Different business cultures will
obviously require different management
and leadership styles\/procedures to
ensure effectiveness.
Policies and procedures:
This is the quality of policies and
procedures followed by a business, do
they meet the bare
minimum\/requirement or do they go
beyond?
Structure of the workforce and how
people work:
Typically in organisations, employees
will be grouped into different functional
departments based on their duties. This
allows them to be managed more
effectively.
Business
Culture:<\/p>\n\n\n\n
B1 Slides:
Autocratic:
This is where all decisions are made by
the managers\/people at the very top of
the organisation and other employees
views and opinions have no influence in
the decision making as they are not
involved in it. Communication in this
style is top-down where it flows from
senior management to low
subordinates (one-way). The main
benefit is that it provides a clear
direction for the business, however it
may get too dictatorial.
Laissez-Faire:
Also known as the \u2018leave it alone\u2019 style,
this style includes managers setting
objectives for employees and those
employees have the responsibility of
making their own decisions to achieve
those objectives. There is a high
delegation of power. Employees who
succeed in working independently will
be benefited the most, leading to higher
productivity. However this style is
criticised as it has poor role definition
for managers. Decision making may
lack the intended direction of the
company.
Democratic:
This style is where a manager
delegates more responsibility and
authority to other employees. This
makes the employees more involved
with decision making as they have a
bigger influence. It involves consulting
and communicating and leaders taking
into account the views and opinions of
the workforce before implementing new
systems. This can improve motivation
of employees, however it can cause
slow decision making.
Paternalistic:
This is similar to the autocratic style
where decisions are still made by
managers at the top of the organisation,
but before doing so they consult other
employees to get their opinions. There
is still less delegation then the
democratic style but more than the
autocratic style. Employees will feel
more comfortable and valued as they
believe the decisions made are in their
best interests, however the leader may
not listen to their opinions or disregard
them and it will be more of an autocratic
style. Potentially longer decision
making as the leader has to consult
employees.
Transactional:
This style focuses on supervision and
rather than control. Objectives will be
assigned and tasks will be organised,
employees carry out these tasks for
rewards. The obvious disadvantage is
that its difficult to find a reward that
motivates and benefits all employees.
Employees are pressured to complete
tasks through the fear of punishments.
Management and
Leadership
styles:<\/p>\n\n\n\n
B1 Slides:
Transformational:
This style focuses on trust rather than
control. Employees are empowered and
motivated through investments and
training. Employees are made aware of
the long term aims of the business.
However a disadvantage is that they
may become too focused on the long
term goals and miss opportunities.
Charismatic:
Charismatic leadership is where the
leader is inspirational and motivates
their employees to do well which leads
to higher engagement. As this style is
about persuading employees to do well
or do certain tasks, it may lead to
manipulation and narcissism.
Management and
Leadership
styles:<\/p>\n\n\n\n
B1 Slides:
\u25cf Decisions can be made
quickly
\u25cf Removes pressure from
inexperienced employees
\u25cf Focused targets
\u25cf Decisions made will directly
correspond and work towards
the businesses goals
Pros of Autocratic
\u25cf Can be too controlling,
\u25cf Often leads to
micromanagement
\u25cf No trust
Cons of Autocratic
\u25cf Employees feel more valued,
engaged and motivated
\u25cf Decisions might be more
effective
Pros of Democratic
\u25cf Slow decision making
\u25cf Is ineffective if employees are
inexperienced
Cons of Democratic
\u25cf Manager involves employees
in decision making,
\u25cf Meets employees needs
\u25cf Employees are more satisfied
and motivated
Pros of Paternalistic
\u25cf Slow decision making
\u25cf Manager might not consider
employees viewpoints
Cons of Paternalistic
\u25cf Used when employees are
more knowledgeable than the
leader so it is effective in
specialist industries
\u25cf Lots of delegation, which
encourages creativity
Pros of Laissez-Faire
\u25cf Lack of role awareness and
\u25cf Low accountability
\u25cf Poor involvement
Cons of Laissez-Faire
Advantages and Disadvantages of Management and Leadership styles:<\/p>\n\n\n\n
B1 Slides:
\u25cf Focuses on supervision and
trust rather than control and
authority
\u25cf Employees are rewarded
which can increase
motivation and productivity
Pros of Transactional
\u25cf Hard to find
incentives\/rewards that will
motivate and benefit all
employees
Cons of Transactional
\u25cf Focuses on trust and
empowerment
\u25cf Employees are more
engaged and skills are
improved
\u25cf Lower labour turnover
Pros of Transformational
\u25cf Can lead to employee
burnout
\u25cf Can be too focused on long
term goals and miss
opportunities
Cons of Transformational
\u25cf Leader is inspirational and
motivates employees to do
well which increases
engagement
\u25cf Employees feel more
connected with the manager
which lowers labour turnover
rates
Pros of Charismatic
\u25cf By persuading employees to
do tasks, this style can lead
to manipulation and
narcissism
Cons of Charismatic
Advantages and Disadvantages of Management and Leadership styles:<\/p>\n\n\n\n
B2 Slides:
Setting objectives:
An objective is a short-term goal that is
sought out in order to achieve long-term
aims. These are SMART. This skill is
important as it gives employees a clear
understanding of what to do.
Team building:
This includes interpersonal skills. This
is an important skill because it enables
employees to learn from each other and
improve communication and allow the
leader to convey the goals of the team
and individual roles.
Motivating:
Managers need to motivate their
employees and teams otherwise the
work might not get done or will be
completed to a low standard. Managers
with this skill will clearly communicate
the duties and tasks to employees,
encourage them when completing the
tasks and praising them when the task
is complete. Managers will create
opportunities to learn if the employee is
unsuccessful at completing the task.
Decision making:
Managers need to have strong decision
making skills as poor decision making
will lead to demotivation and low
productivity which harms the success of
the business. Managers need to be well
informed and need to be able to think
critically and analytically to come up
with the best solutions to the current
problem. They will consider the pros
and cons of their proposed decision,
possibly using SWOT analysis.
Leading by example:
Leading by example means managers
go above and beyond what is expected
of them to act as an advocate for the
business. This means that they are
acting as a role model for their
employees to encourage them to
improve.
Management and
Leadership skills:
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