business leadership test 1

big 5 personality traits

openness, conscientiousness, extraversion, agreeableness, neuroticism

conscientiousness

the extent to which one is dependable and persistent

emotional stability

one's calmness and self-control

extraversion

a measure of sociability, ambition, and narcissism

agreeableness

the extent to which one is cooperative and altruistic

openness to experience

a measure of creativity and novelty-seeking

three ways that personality traits impact your success at work

1. determines how and why we're motivated to achieve certain goals

2. conscientiousness, extraversion, and agreeableness are

positively correlated with job satisfaction,

3. impacts your interpersonal relationships

characteristics of an introvert

comfortable spending time alone, prefer small conversations, listen more than speak, reserved, deep focus for a long period of time

myths about introverts

shy, can't lead, poor team players, not as successful, don't get along with extraverts

characteristics of an extravert

enjoy being social and comfortable around many people, enjoy group conversation, like to speak, more outgoing, can be easily distracted

definition of ambivert

balance of both extravert and introvert characteristics

intellectual capital

the collective brainpower or shared knowledge of a workforce

formula for intellectual capital

competency * commitment

knowledge worker

someone who continuously works to achieve new heights

workforce diversity

the composition of a workforce in terms of gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness

glass ceiling

an invisible barrier limiting career advancement of women and minorities

globalization

worldwide interdependence of resource flows, product markets, and business competition

main foundation of globalization

Internet and communication tech

ethics

moral standards of what is "good" and "right"

portfolio worker

has up-to-date skills that allow for job and career mobility

independent contractors

- Perform specific tasks as needed by the organization

- Compensated on a fee-for-services basis

- Sell skill or service

full time core workers

- Pursue traditional career paths

- Can advance within the organization with success and maintaining critical skills

part time temporaries

- Hired only as needed and for as long as needed

- Companies expand and reduce their part-time staff depending on their changing needs

manager

a person who activates, supports, and is responsible for the work and performance of their team

top managers

guide the performance of the organization as a whole or of one of its major parts

middle managers

oversee the work of large departments or divisions

first-line managers

report to middle managers and supervise non-managerial workers

line managers

work directly towards producing the organization's goods/services (ex. president and retail manager)

staff managers

responsible for using their technical skills to advise and support line workers (ex. director of human resources)

functional managers

responsible for solely one area (ex. marketing, finance, sales, production)

general managers

oversee several functions at once

administrator

title for manager in a non-profit organization

four functions of management

planning, organizing, leading, controlling

planning function of management

setting goals and deciding how to achieve them

organizing function of management

coordinating tasks, resources, and people

leading function of management

communicating visions, building enthusiasm, and motivating staff in order to reach goals and follow plans

three management skills

technical, human, conceptual

technical skills

- required by the front line

- hands-on, task oriented skills that relate to the overall project/objective

human relations skills

- effective interaction with others

- engage, motivate and communicate effectively with others

- required at every single level of management

conceptual skills

- visioning, decision making, and more strategic skills

- required the most at top level management

diagram that correlates the level of management with the management skills required

scientific management

using scientific principles to increase efficiency in the workplace

administrative theory

emphasized establishing a universal set of management principles that could be applied to all organizations

motion study

science of reducing a task to its basic physical motions

Fayol's 14 Principles

1. Division of work

2. Authority and responsibility

3. Discipline

4. Unity of command

5. Unity of direction

6. Subordination of individual interest

7. Remuneration

8. Centralization

9. Scalar chain

10. Order

11. Equity

12. Stability of tenure of personnel

13. Initiative

14. Esprit de corps

Fayol's five rules of management

foresight, organization, command, coordination, control

Beaureaucracy

a rational and efficient form of organization founded on logic, order and legitimate authority

characteristics of Weber's bureaucracy

1. Clear division of labor

2. Clear hierarchy of authority

3. Formal rules and procedures

4. Impersonality

5. Careers based on merit

disadvantages of a bureaucracy

Excessive paperwork or "red tape"

Slowness in handling problems

Rigidity in the face of shifting needs

Resistance to change

Employee apathy

three classical management theories

bureaucracy (Weber), administrative theory (Fayol), and scientific management (Taylor)

what is the common theme among the classical management theories?

forgets about work-related satisfaction

behavioural management theories

organizations as committees, the Hawthorne studies, theory X and Y

what is the common theme among the behavioural management theories?

incorporate the social aspect of work and the notion that workers attempt to reach their full potential

organizations as committees

look at organizations as communities where managers and workers should work together to create a sense of collaboration and unity in the workplace

the Hawthorn studies

social aspect of work and employee sense of belonging is more important for productivity than pay-based incentives and the physical working conditions

theory X

employees are lazy, unhappy, unmotivated

- Require direct and strict supervisions

- Clear workplace rules

- Need incentives to motivate and increase productivity

- Focus more on an authoritative approach to leading

theory Y

employees are self-motivated, responsible, proactive, passionate

- Building trust

- Providing opportunities to develop and take on responsibility

- Include employees in decision making

- Include all workers

- encourage collaboration and trust

three classic leadership styles

autocratic, laissez-faire, democratic

3 main principles of Mary Follett's theory of management

1. Conflict resolution through integration