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Introduction to Business

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Introduction to Business ­MGT 211
VU
LESSON 21
MANAGERIAL STYLES AND LEADERSHIP
There are many valid styles of leadership. Most managers do not conform to anyone style, but
under different circumstances, any given style or combination of styles may prove
appropriate.
Leadership -- A process of motivating others to work to meet specific objectives.
a. Managerial Styles--pattern of behavior that a manager exhibits in dealing with
subordinates.
i.
Autocratic Style--managerial style in which managers generally issue
orders and expect them to be obeyed without question.
ii.
Democratic Style--managerial style in which managers generally ask
for input from subordinates but retain final decision-making power.
iii.
Free-Rein Style--managerial style in which managers typically serve as
advisers to subordinates who are allowed to make decisions.
The Contingency Approach to Leadership--The contingency approach acknowledges that
people in different cultures behave different and expect different things from their managers.
Managers will be more effective when they adapt their styles to the contingencies of the
situations they face.
Contingency Approach--approach to managerial style holding that the appropriate behavior
in any situation is dependent (contingent) on the unique elements of that situation.
a. Motivation and Leadership in the Twenty-First Century
i.
Changing Patterns of Motivation
1. Today's employees want rewards that are often quite different
from
those
valued
by
earlier
generations.
--Money is no longer the prime motivator for most people, and
because businesses cannot offer the same degree of job
security that many workers want, motivation requires skillful
attention
from
managers.
--One recent survey found that workers wanted flexible working
hours (67 percent), casual dress (56 percent), unlimited Internet
access (51 percent), opportunities to telecommute (43 percent),
nap time (28 percent), massages and other perks. In another
study of fathers, many men said they wanted more flexible
working hours in order to spend more time with their families.
Today's workers have a complex set of needs and their
motivations are increasingly complex.
2. The diversity inherent in today's workforce makes motivating
behavior more complex.
ii.
Changing Patterns of Leadership
1. Today's leaders are finding it necessary to change their own
behavior as organizations become flatter and workers more
empowered.
--The autocratic style is less acceptable and many managers
are functions more as coaches than bosses.
2. Diversity is affecting leadership processes. --Women, African
Americans, and Hispanics are entering the managerial ranks in
94
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Introduction to Business ­MGT 211
VU
increasing numbers, and they are more and more likely to be
younger than some of the people they are leading.
3. Leaders must adopt more of a "network" mentality rather than a
"hierarchical" one. -- New forms of organizational design may
call for one person to be the leader on one project and a team
member on another.
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Table of Contents:
  1. INTRODUCTION:CONCEPT OF BUSINESS, KINDS OF INDSTRY, TYPES OF TRADE
  2. ORGANIZATIONAL BOUNDARIES AND ENVIRONMENTS:THE ECONOMIC ENVIRONMENT
  3. BUSINESS ORGANIZATION:Sole Proprietorship, Joint Stock Company, Combination
  4. SOLE PROPRIETORSHIP AND ITS CHARACTERISTICS:ADVANTAGES OF SOLE PROPRIETORSHIP
  5. PARTNERSHIP AND ITS CHARACTERISTICS:ADVANTAGES AND DISADVANTAGES OF PARTNERSHIP
  6. PARTNERSHIP (Continued):KINDS OF PARTNERS, PARTNERSHIP AT WILL
  7. PARTNERSHIP (Continued):PARTNESHIP AGREEMENT, CONCLUSION, DUTIES OF PARTNERS
  8. ORGANIZATIONAL BOUNDARIES AND ENVIRONMENTS:ETHICS IN THE WORKPLACE, SOCIAL RESPONSIBILITY
  9. JOINT STOCK COMPANY:PRIVATE COMPANY, PROMOTION STAGE, INCORPORATION STAGE
  10. LEGAL DOCUMENTS ISSUED BY A COMPANY:MEMORANDUM OF ASSOCIATION, CONTENTS OF ARTICLES
  11. WINDING UP OF COMPANY:VOLUNTARY WIDNIGN UP, KINDS OF SHARE CAPITAL
  12. COOPERATIVE SOCIETY:ADVANTAGES OF COOPERATIVE SOCIETY
  13. WHO ARE MANAGERS?:THE MANAGEMENT PROCESS, BASIC MANAGEMENT SKILLS
  14. HUMAN RESOURCE MANAGEMENT:Human Resource Planning
  15. STAFFING:STAFFING THE ORGANIZATION
  16. STAFF TRAINING & DEVELOPMENT:Typical Topics of Employee Training, Training Methods
  17. BUSINESS MANAGERíS RESPONSIBILITY PROFILE:Accountability, Specific responsibilities
  18. COMPENSATION AND BENEFITS:THE LEGAL CONTEXT OF HR MANAGEMENT, DEALING WITH ORGANIZED LABOR
  19. COMPENSATION AND BENEFITS (Continued):MOTIVATION IN THE WORKPLACE
  20. STRATEGIES FOR ENHANCING JOB SATISFACTION AND MORALE
  21. MANAGERIAL STYLES AND LEADERSHIP:Changing Patterns of Leadership
  22. MARKETING:What Is Marketing?, Marketing: Providing Value and Satisfaction
  23. THE MARKETING ENVIRONMENT:THE MARKETING MIX, Product differentiation
  24. MARKET RESEARCH:Market information, Market Segmentation, Market Trends
  25. MARKET RESEARCH PROCESS:Select the research design, Collecting and analyzing data
  26. MARKETING RESEARCH:Data Warehousing and Data Mining
  27. LEARNING EXPERIENCES OF STUDENTS EARNING LOWER LEVEL CREDIT:Discussion Topics, Market Segmentation
  28. UNDERSTANDING CONSUMER BEHAVIOR:The Consumer Buying Process
  29. THE DISTRIBUTION MIX:Intermediaries and Distribution Channels, Distribution of Business Products
  30. PHYSICAL DISTRIBUTION:Transportation Operations, Distribution as a Marketing Strategy
  31. PROMOTION:Information and Exchange Values, Promotional Strategies
  32. ADVERTISING PROMOTION:Advertising Strategies, Advertising Media
  33. PERSONAL SELLING:Personal Selling Situations, The Personal Selling Process
  34. SALES PROMOTIONS:Publicity and Public Relations, Promotional Practices in Small Business
  35. THE PRODUCTIVITY:Responding to the Productivity Challenge, Domestic Productivity
  36. THE PLANNING PROCESS:Strengths, Weaknesses, Threats
  37. TOTAL QUALITY MANAGEMENT:Planning for Quality, Controlling for Quality
  38. TOTAL QUALITY MANAGEMENT (continued):Tools for Total Quality Management
  39. TOTAL QUALITY MANAGEMENT (continued):Process Re-engineering, Emphasizing Quality of Work Life
  40. BUSINESS IN DIGITAL AGE:Types of Information Systems, Telecommunications and Networks
  41. NON-VERBAL COMMUNICATION MODES:Body Movement, Facial Expressions
  42. BUSINESS ORGANIZATIONS:Organization as a System
  43. ACCOUNTING:Accounting Information System, Financial versus Managerial Accounting
  44. TOOLS OF THE ACCOUNTING TRADE:Double-Entry Accounting, Assets
  45. FINANCIAL MANAGEMENT:The Role of the Financial Manager, Short-Term (Operating) Expenditures