leadership and management

Empathy

Ability to understand the feelings of another

Humility

Humbleness

Authenticity

Quality of being authentic

Social responsibility

All make the world a better place, beyond what is required

Autocratic leadership

Clear direction, increased efficiency

Democratic leadership

Creativity, diversity of ideas

Laissez faire

Self motivating, creative growth

Blake mouton grid

Determining a leaders behavioral style

Hershey Blanchard model

Adapt leadership style based on readiness level of team members

Stakeholders of a corporation

Investors, employees, customers, suppliers

Functions of management

Planning, organizing, leading, controlling

Limited liability

Owners are not responsible for the obligations beyond their investment

The grapevine

System of communication through an organization

Salary pay

Stable income, benefits, higher income

Hourly pay

Overtime pay, flexibility

Commission pay

performance based earning, goals with company

Controlling function of management

Establishing standards, measuring performance, taking corrective action

Business organization

Partnerships, corporation, sole proprietorship