Business SCHSM Test Review

Leadership: The process of inspiring others to work hard to accomplish important tasks

Integrity: the quality of being honest and having strong moral principles

Emotional Intelligence: 

• Self Awareness: Refers to one's ability to understand their emotions, motivations, strengths, and weaknesses and how these are perceived by other, applied through viewing yourself objectively, and self deprecating on occasion 

• Self Regulation: The ability to control, or pivot one's harmful urges, or temper, not characterized by never feeling angry, confused or upset, but instead by not allowing these emotions to negatively affect your behavior or others, applied through setting an example by not lashing out

• Motivation: A passion to pursue, achieve, and progress towards goals. Applied through being driven and disciplined to achieve your goals

• Empathy: The understanding of others emotions and grasp of how to treat people depending on their emotional makeup. Applied through being able to work with and serve different people, and behaving accordingly. 

• Social Skill: The understanding of others emotions and grasp of how to treat people depending on their emotional makeup, applied through building connections with people you meet briefly and being memorable

 and how to apply them

Drucker’s Old Fashioned Leadership:

• Define and communicate a clear vision

• Accept leadership as a responsibility, not a rank 

• Surround yourself with talented people 

• Don’t blame others when things go wrong 

• Keep your integrity, earn the trust of others 

• Don’t be clever, be consistent 

Moral Leadership: Beginning with personal integrity and modeling expected behavior, maintain an ethical organizational culture, help and require ethical behavior, you are transparent, unbiased and kind, and focused on team building. 

Visionary Leadership: A leader who brings to a situation a clear and compelling sense of the future understanding the actions needed to get there successfully

Servant Leadership: Follower centered and committed to helping others in their work, empowers other to gain and use decision-making power 

Transactional: Uses tasks, rewards, and structures to influence and direct the efforts of others, systematically applying these structures to adapt to the environment

Transformational Leadership: Inspirational, and arouses extraordinary effort and performance, often possesses vision charisma and integrity, uses symbolism and empowerment, contagious enthusiasm, 

Be able to identify and explain:

Ways to Build Leadership Skills:

• Practice discipline 

• Take on more projects 

• Learn to follow 

• Inspire others 

• Keep learning 

• Resolve conflicts 

Ways to Build Confidence:

• Adopt a growth mindset 

• Practice Gratitude

• Confront your fear

• Lean into your strengths 

• Grow your competence 

Proper formatting of an Business Email

Leaderships Theories:

Classic Leadership Styles 

Autocratic-Authoritarian style: Centralized authority, low participation, least time consuming, detailed, decision making tends to be less creative, and people don’t feel they have input 

Democratic-Participative Style: Involvement, high participation, feedback, workers tend to feel more engaged, contributes are higher quality, productivity decreases  

Laissez-faire Style: Hands of management, self motivated individuals feel empowered, workers can become more demanding and less cooperative, poorly defined roles, and least productivity  

• Description

• Advantages/Disadvantages

Contingency Approaches to Leadership: (Know the elements, premise of the theory and how to apply it)

• Fielder’s Contingency Model

  • Fred Fiedler proposed that good leadership depends on a match between leadership style and situational demands. 

  • you are either a task motivated leader or a relationship motivated leader 

  • The amount of controle a situation allows the leader is crucial to determining the correct style to use 

    • Quality of leader-member relations = the degree to which the group supports the leader (good to poor) 

    • The degree of task structure = how clearly task goals, procedures and guidelines are spelled out (high to low) 

    • The amount of position power = the degree to which the position gives the leader power to reward and punish subordinates (strong to weak) 

• A task oriented leader will work best in very favorable conditions (i.e. high controle) or unfavorable conditions (i.e. low-controle) situations.

•  A relationship-oriented leader will be most successful in situations of moderate controle 

• Hersey-Blanchard Situational Leadership Model

  • suggest that successful leaders adjust their styles based on the maturity of the followers (so are they willing or confident to perform) so as followers mature the leader is less directive. 

    • Telling style = low readiness (unable and unwilling/insecure) 

    • Selling style = Moderate to high readiness (unable but willing/confident) 

    • Participating style = low to moderate readiness (able but unwilling or insecure) 

    • Delegating style = high readiness (able, willing or confident)

• Path-Goal Leadership Theory by Robert house 

  • an effective leader should be able to clarify goals, remove barriers and provide valued rewards for goal accomplishment. To do so they shift back and forth between 4 leadership styles to create a positive path-goal linkage. 

    • Directive leadership: letting subordinates know what is expected, giving directions, scheduling work to be done, maintaining standards for performance etc (Good when assignment is unclear) 

    •  Supportive leadership: Doing things to make work pleasant, treating group members as equals, being friendly and approachable, showing concern for well being etc (Good when worker self confidence is low) 

    • Achievement-Oriented Leadership: Setting challenging goals, expecting high levels of performance with work, emphasizing continuous improvements, show confidence is meeting high standards (Good when performance incentives are low) 

    •  participative Leadership: Involving subordinates in decision making, asking for suggestions, using suggestions when making decisions etc (Good when task challenge is insufficient and goals needed to be set) 

• Leader- Member Exchange Theory(LMX)

  • Recognises that not everyone is treated the same by the leader 

  • In group: 

    • considered the best performers 

    • They enjoy special and trusted high exchange relationships with the leader (might look like special assignments, privileges and access to info) 

• Out group 

  • Excluded from benefits 

  • Low exchange relationship with the leader 

• Leader-Participation Model

  • leadership success results from the decision making method used 

    • Authority Decision: Made by the leader then communicated to the group 

    • Consultative Decision: Made by the leader after receiving information, advice or opinions from group members. 

    • Group decision:  Made by the group members themselves 

Power and Influence (Position Power vs. Personal Power) 

Sources of Position Power:  

• Reward Power: The capacity to offer something of value as a means of influencing other people ie. a raise, a promotion, a great office, a bonus etc

• Coercive Power: The capacity to punish or withhold positive outcomes as a means of influencing other people ie. termination, verbal or written reprimands, no bonus pay out, demotion

• Legitimate Power: The capacity to influence other people by virtue of formal authority, or the rights of the office ie. CEO, project manager, supervisor

Sources of Personal Power:

• Expert Power: The capacity to influence other people because of specialized knowledge ie. experience, specialized training, or talent

• Referent Power: The capacity to influence other people because of their desire to identify personally with you ie. rich people, celebrities, inspiring boss

• Relational Power: The ability to function well as part of a team working toward a collective goal while putting other team members’s need above your own ie. people who put the team members first

Be able to give examples for each

Teams and Team Building

Be able to identify and apply all of these concepts

Team: A collection of people who regularly interact to pursue common goals

Synergy: The interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects

Teamwork: The process of people actively working together to accomplish common goals
Team Success: When the team can accomplish more together than the sum of its parts… (team synergy) When you can accomplish something bigger and work more efficiently than a group of the same individuals working on their own

Pros of Teamwork:

• Provides more resources for problem solving

• It improves creativity and innovation

• It improves the quality of decision making

• It creates greater commitment to tasks

• It creates higher motivation and more individual satisfaction

• It creates better control and work discipline

Problems with Teamwork: 

• Social loafing 

• Personality conflicts 

• Differences in work styles 

• Task ambiguity

Recipe for Success

• Diversity of skills and personalities

  • When people use their strengths you can compensate for other’s weaknesses

  • Different personalities balance and compliment one another 

• Clear goals

  • All team efforts are directed toward the same clear goal 

  • Relies on good communication within the team 

8 tips for successful teams

1. Clearly state team goals 

2. Clear definition of who is responsible for what roles 

3. Build trust with your team members 

4. Give opportunities for team building exercises 

5. Involve the whole team in decision making 

6. Ensure open communication between team members 

7. Celebrate successes, share compliments 

8. Other-oriented rather than self-oriented 

Uncontrollable Factors that can influence Team Success

• Nature of the task 

• Organizational setting 

• Team size

• Membership characteristics  

Stages of team development

(Definition /purpose- what is accomplished

 /feels/sounds and looks like)

Forming: 

• A stage of initial orientation and interpersonal testing, helps understanding of everyone's strengths and weaknesses.  

• You become familiar with the task at hand/ groups purpose or goal 

• A rough project schedule is made (a step by step plan) 

• Feels like: Anxious or excited

• Behaviors: lots of questions asked, reflecting on both excitement and anxiety about their place on the team 

• common questions: Why am I on this team? How will I fit in? How will I benefit from working on this team? Does the team share similar goals with me? Who do I know on this team?  

Storming: 

• A stage of conflict over tasks and working as a team 

• competition and conflict within the team as members learn to bend and mold their feelings, ideas, attitudes, and beliefs to suit the team organization.

• Some try to dominate the situation while others may remain completely silent; there's a need for problem solving  

• Feelings: frustration and anger

• Behaviors: Less polite, disagreements 

Norming: 

• A stage of consolidation around task and operating agendas 

• Team members actively acknowledge all members' contributions, build community, maintain team focus and mission, and work to solve team issues.

• team members begin to feel a sense of group belonging and feel good about being a part of an effective team. 

• Feelings: a sense of increased acceptance, constructive criticism is welcome

• Behaviors: increased willingness to share ideas, team focuses on established ground rules and practices to put them back on track to achieve their goal  

Performing: 

• A stage of teamwork and focused task performance 

• Again, the performing stage is not reached by all teams. 

• Those teams that do reach this stage not only enjoy team members who work independently but also support those who can come back together and work interdependently to solve problems.

• a team is most productive at this stage 

• Feelings: satisfaction, insightful, aware, and confident 

• Behaviors: A “can do” attitude, roles become more fluid. 

Adjourning: 

• A stage of task completion and disengagement 

• A planned conclusion usually includes recognition for participation and achievement and an opportunity for members to say personal goodbyes.

• Feelings: Sadness, loss, deep satisfaction, morals could rise or fall.

• Behavior: less focused, sometimes task productivity may increase.