Business Leadership Exam Review |Complete Questions with 100% Correct Answers
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Business Leadership
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Business Leadership
Business Leadership Exam Review
4 Functions of a Manager
Planning:
What are the goals and how to achieve them
Developing a vision/mission
Who might lead
Organizing:
Tools needed/ how much is needed
Determine a timeline
How are we going to use our resources
Leading:
Inspire and motiva...
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Business Leadership Exam Review
4 Functions of a Manager
Planning:
What are the goals and how to achieve them
Developing a vision/mission
Who might lead
Organizing:
Tools needed/ how much is needed
Determine a timeline
How are we going to use our resources
Leading:
Inspire and motivate others (employees or customers)
Controlling:
Addressing conflict
Analyzing effects: did we meet the goal
Active Listening
The process of taking action to help someone say exactly what he or she really means
Administrators
work in public and nonprofit organizations
Agreeableness (Big 5 trait)
The extent to which on is cooperative and altruistic (perceived as kind, warm, considerate). They get
ideas going (go with the flow and are flexible)
Acuired Needs Theory
Based on three needs: achievement (When we want to do something better), affiliation (To establish
and maintain a warm and friendly connection with people), power (The desire to control other
people, influence others bhaviour and be responsible for others)
Autocratic Leader
Emphasizes work over people
Keeping authority and information within the leader's tight control
Acts in a unilateral command-and-control fashion
Concern for the task is high; concern for people is low
Balanced Score Cards
Tallies organizational performance in the financial, customer service, internal process, innovation and
learning and sustainability areas
The basic principle is that "to do well and to win, you have to keep score"
Benchmarking
Use of external and internal comparisons to plan future improvements
Best practices are things people and organizations do that dead to superior performance
,Boundaryless Organizations
Eliminate internal boundaries among subsystems and external boundaries with the external
environment.
A combination of team and network structures, with the addition of "temporariness"
Organizational needs are met by shifting mix of outsourcing contracts and operating alliances that
form and disband with changing circumstances
Key requirements
Absence of hierarchy
Empowerment of team members
Technology utilization
Acceptance of impermanence
Budgets
Plans that commit resources to activities or projects
Fixed, flexible, and zero-based budgets -allocates resources as if each budget where brand new
Capacity (selecting a channel of communication)
A channel to carry information
Characteristics of Transformational Leaders
Vision:
having ideas and a clear sense of direction
communicating them to others
developing excitement about accomplishing shared dreams
Charisma:
arousing others' enthusiasm, faith, loyalty, pride and trust in themselves through the power of
personal reference and appeals to emotion
Symbolism:
Identifying "hero's"
offering special rewards
holding spontaneous and planned ceremonies to celebrate excellence and high achievement
Empowerment:
Helping others develop, removing performance obstacles, (), and delegated truly challenging work
Intellectual Stimulation:
gaining the involvement of others by creating awareness of problems and stirring their imagination to
create high-quality solutions
Integrity:
Being honest and credible, acting consistently out of () (), and by following through on meeting
commitments
Charasmatic Leaders
Develop special leader-follower relationships and inspire others in extraordinary leadership
Have a compelling vision or sense of purpose
Communicate their vision effectively
, Demonstrate consistency
Focus on their own strengths and capitalize on them
Communication
An interpersonal process of sending and receiving symbols with messages attached to them
Key elements of the communication
process:
1. Sender
2. Message
3. Communication channel
4. Receiver
5. Interpreted meaning
6. Feedback
competative advantage
Competitive Advantage - the ability to do something so well that one outperforms competitors
sustainable competitive advantage
Sustainable Competitive Advantage - having a competitive advantage that is difficult for competitors
to imitate
Concurrent Control
Ensure the rights steps are done during operations
Conflict of Interest
When a person does something or accepts something based on their unique position they are in
contingency plans
Identify alternative courses of action that can be implemented to meet the needs of changing
circumstances
Anticipate changing conditions
Contingency plans contain trigger points
Controlling
The process of measuring performance and taking action in order to ensure desired results
To ensure results
Conscientiousness (Big 5 personality trait)
The extent to which one is dependable and persistent (commitment to job, thinks of how their actions
affect others, good decision makers)
Corporate Social Responsibility
Organizations today have to be guided by what is right, just, and socially acceptable
Organizations have to act ethically and make ethical decisions
An organization can quickly lose the support of their consumers, and members of society in general, if
they do not act ethically
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