The Contingency approach to management stresses the need for flexibility and the adaptation of management practices and ideas to suit changing circumstances.
100
When was Fred Fiedler born?
July 13, 1922
100
What is an organisational structure?
A system used to define a hierarchy within an organisation
100
Trains managers to act and solve quickly
Advantage
100
What is a stakeholder?
An individual or group that has a direct interest in the business
200
What is another term for contingency approach?
Situational Approach
200
What was Fred Fiedler's occupation?
Fred Fiedler was a business and management psychologist
200
What type of organisational structure does a contingency management approach have?
It is a mix of pyramid, flat or decentralised organisational structures, depending on the business's requirements.
200
Allows for flexibility and adaptation
Advantage
200
What are the five industry sectors?
Primary, Secondary, Tertiary, Quaternary and Quinary
300
What does this approach stress the need for?
Stresses the need for flexibility and the adaptation of management practices and ideas to suit changing circumstances.
300
What is the contingency model?
A contingency theory concerned with the effectiveness of a leader in an organisation
300
What is a pyramid organisational structure?
A hierarchy with the executive level at the top and descending levels from middle management to the lower levels of the organisation
300
Its complexity
Disadvantage
300
Define 'undercapitalisation'?
Occurs when there is a lack of sufficient funds to operate a business normally
400
What do contingency theorist believe?
They believe that there are no same solution to two or more different situations.
400
What is Fiedler's key determinant of leader effectiveness?
it is to deal with the amount of stress leaders contain and how leaders deal in stressful situations
400
What is a flat organisational structure?
An organisational structure with few or no levels of middle management between staff and executives.
400
The time that this approach demands
Disadvantage
400
What are the three factors that influence the choice of legal structure of a business?
1.Size of the business
2.Ownership structure
3.Finances Needed
500
What business management concept does the contingency approach take on?
A concept stating that there is no one universal application of management rules.
500
What is Fiedler's second most important point of the contingency model?
The leader’s ability to control a group situation
500
What is a decentralised organisational structure?
An organisational structure in which most decisions are made by mid-level or lower-level managers, rather than being made centrally by the head of the company
500
The contingency approach enables management to change employee roles to meet the individual needs of a given project quickly
Advantage
500
Define 'Budget'?
Estimate of income and expenditure of a set period of time