Unit 6 January 2022 REVISION BOOKLET (The
Fachetti Group) Principles of Management
Summary Unit 6 January 2022 COMPLETE NOTES
(The Fachetti Group) Principles of Management
Unit 6 - The Principles of Management
Revision booklet
Topic A
1. What is management by objectives?
- These are specific goals that can help galvanize staff towards meeting the aims of
the business. They may be SMART (specific, measurable, achievable, realistic
and time-bound)
2. What is the difference between transformational and transactional
management? Transformational – considers the much bigger picture and takes a
more strategic approach to achieving goals. This style adopts an approach of
investing more time and effort now and in so reap the benefits and rewards later
on.
Transactional – Concerned about getting the job done with little disruption to normal
operations. Likely to follow processes and system and will se various techniques to
encourage staff to give their best by being motivated.
3. What is situational and contingency leadership?
A leadership theory which suggests that leaders/managers behavior and personality
is determined by the situation. If the situation changes, so does the manager
behavior.
4. What is leadership continuum?
A manager who lets their staff suggest or try out new ways of working sits on the
right of the continuum, a manager who likes to keep control and be the decision
maker sits on the left.
1. Name 3 functions of management.
Planning, organizing, leading.
2. Name 3 functions of leadership.
Guidance, motivation, setting an example.
3. Define business culture.
, Unit 6 January 2022 REVISION BOOKLET (The
Fachetti Group) Principles of Management
Business culture is related to behaviour, ethics, etiquette and more. A business
culture will encompass as organization’s values, visions, working style, beliefs and
habits.
4. Why is it important to influence stakeholders?
Businesses have different types of internal and external stakeholders, with different
interests and priorities. Sometimes these interests can
conflict. Influence of stakeholders on business objectives. Owners have a big say in
how the aims of the business are decided, but other groups also have
an influence over decision making.
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