Summary Introduction to Business Management Chapter 9 Complete
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Course
Introduction to Business Management (BMNG5121)
Institution
Rosebank College
Book
INTRODUCTION TO BUSINESS MANAGEMENT 11E
This document provides an in depth and thorough summary of chapter 9 of Introduction to Business Management 11th edition (Erasmus et. al.). It is ready for exam and tests. Everything is laid out as it is in the textbook. All needed information is provided in short. It is written in an easy to study...
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Chapter 9
Contemporary definition of leadership- process of influencing employees to work willingly towards the achievement of
organizational objectives
Managers take the lead to bridge the gap between formulating plans and reaching goals
Leadership and management
Leadership not same as management
Management is broader in scope comprising the four functions of which leading is only one
Not all managers are good leader
Not all leaders are good managers
Components of the leading function
Authority- represents the right of a leader to give commands and demand actions from employees
Power- manager’s ability to influence their employees’ behaviour
Responsibility- obligation to achieve organizational goals by performing requested activities, responsible for results
Delegation- process of assigning responsibility and authority for achieving organizational goals to other employees
Accountability- evaluation of how well individuals meet their responsibilities. Responsible for department
Authority
Authority- represents the right of a leader to give commands and demand actions from employees
Leaders manage subordinates to achieve organizational goals
Without authority, managers are unable to manage, initiate or sustain the management process
Authority revolves around obtaining the right to demand action from employees and the right to take action
Final authority rests with the owners or shareholders of the organization
Authority is transferred down from owners or stakeholders to managers
Power
Power- manager’s ability to influence their employees’ behaviour
Two types:
Position power: Top management delegates position power down the chain of command
Personal power: Managers have personal power when their followers place it on them
Coercive Power:
Enforces compliance through fear, psychological, emotional, or physical
Reward Power:
Involves the power to give or withhold rewards like salary raises, bonuses, praise, promotion, recognition, and
interesting assignments, based on performance
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