Leadership Models and Strategic Tools in Management Exam Questions And Correct Answers
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Course
Leadership tool
Institution
Leadership Tool
Leadership Models and Strategic Tools in
Management Exam Questions And Correct
Answers
Tannenbaum Schmidt Continuum - answerA leadership model showing the relationship
between a manager's freedom given to the team and authority retained.
Blake Mouton Grid - answerTool assessing leadership styl...
Leadership Models and Strategic Tools in
Management Exam Questions And Correct
Answers
Tannenbaum Schmidt Continuum - answer✔A leadership model showing the relationship
between a manager's freedom given to the team and authority retained.
Blake Mouton Grid - answer✔Tool assessing leadership style based on concern for people and
production, with five styles like Country Club and Team Management.
Scientific Decision Making - answer✔Systematic decision-making approach based on data and
logic, involving steps like setting objectives and reviewing outcomes.
Decision Trees - answer✔Diagram evaluating decisions based on costs, probabilities, and
benefits, with nodes for decision points and branches for outcomes.
Stakeholder Mapping - answer✔Tool identifying and prioritizing stakeholders based on power
and interest, with quadrants like High power, high interest.
Market Mapping - answer✔Visual tool plotting products based on dimensions like price vs.
quality to identify market gaps and positioning opportunities.
Price Elasticity of Demand (PED) - answer✔Measure of demand responsiveness to price
changes, calculated as % change in quantity demanded / % change in price.
Income Elasticity of Demand (YED) - answer✔Measure of demand changes with consumer
income, with positive YED for normal goods and negative YED for inferior goods.
STP (Segmentation, Targeting, Positioning) - answer✔Market strategy involving segmentation,
targeting specific segments, and positioning the product relative to competitors.
7Ps of the Marketing Mix - answer✔Elements like Product, Price, Place, Promotion, People,
Process, and Physical Evidence in marketing strategy.
Boston Matrix - answer✔Tool analyzing product portfolios based on market growth and share,
with quadrants like Stars and Cash Cows.
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