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Leaders

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28 Terms

1

Leaders

Are visionaries who inspire and drive change, focusing on setting a goal and motivating people

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2

Managers

Concentrate on executing visions through organised practical methods .

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3

Paternalistic

Managers or leaders who sees subordinates as family members there by guiding and protecting them when decisions are made

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4

Laissez faire

Refers to managers or leader who is comfortable and used to give authority to employees

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5

Autocratic

Refers to managers or leaders who does not consult employees in the decision making process

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6

Democratic

Refers to managers or leaders who give employees authority in the decision making process as well as consult them in the process too

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7

Situational

Refers to managers or leaders who is both willing and able to change and adapt according to different circumstances and scenarios

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8

Taylor management theory

Organising work that focuses on making tasks more effiecnt by studying them

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9

Maslow hierarchy of needs

Proposed that humans needs are organised in a hierarchy

1.physiological 2.saftey 3. Social 4. Esteem 5.self actualisation

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10

Herzberg motivation hygiene theory

Identified factors that either motivate or demotivate employees

Motivation (achievement, recognition, job satisfaction)

Hygiene factors (salary , working conditions , job security)

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11

Role of finance

Finances is needed to start a business

  1. Starting a business

  2. Expansion

  3. Working capital

  4. Innovation

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12

Capital expenditure

Refers to a business spending on non current assets or equipment of a business

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13

Finance

Refers to the various available money that an organisation has to find its business activities

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14

Revenue expenditure

Refers to business spending on its everyday and regular operations

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15

Asset

Anything that a business owns and has a marketable value

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16

Internal sources of finances

Are those that come from within the organisation , form it’s own resources and assets , without the help of a third party

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17

Personal funds

Are internal sources or finances that come form the savings of the business tat are used to finance their startup

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18

Retained profit

having a financial surplus

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19

Share capital

money raised from Company shares, preferences

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20

Business angels

private investors that choose invest in a new business venture that offers a larger potential growth .

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21

Crowdfunding

Involves money raising form a small amounts of money from a large number of people to fund a particular business project or venture .

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22

Trade credit

Enables a business to purchase and obtain good and services but to pay for these at a later date

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23

Micro finance provides

Are for profit social enterprises that offer a financial service to those without a job or very low incomes

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24

Overdrafts

Allows a business to temporarily draw out more than the funds in their bank account

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25

Loan capital

Loans obtained from commercial lenders

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26

Leasing

A contract that allows a lessee to rent goods form a lessor .

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27

Debentures

Long time loans

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28

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