Management style
Which management style is the one where manager tells staff what decisions have already been made?
autocratic management style
Which management skill is the ability to transfer information from a sender to a receiver, and to listen to feedback?
communication
What is the obligations a business has over and above its legal responsibilities to the wellbeing of employees and customers, shareholders and the community, as well as the environment?
corporate social responsibility
Identify a business objective refers to the degree to which a business has achieved its stated objectives?
effectiveness
a type of business that is government owned and operated
government business enterprise (GBE)
Which management style is the one where the manager consults employees before making decisions?
consultative management style
Which management skill is the ability to identify the options available and then choose a specific course of action from the alternatives?
decision-making
A stakeholder who purchase goods and services from the business, expecting high quality at competitive prices
customers
Identify a business objective measures how well a business uses resources to achieve objectives?
efficiency
A stakeholder who has the responsibility for successfully achieving the objectives of the business?
manager
Which management style is the one where the employees assume total responsibility for, and control of, workplace operations?
laissez-faire management style
Which management skill is the ability to transfer authority and responsibility from a manager to an employee to carry out specific activities?
delegation
A stakeholder who work for the business and who expect to be paid fairly, trained properly and treated ethically in return for their contribution to production
employees
businesses or individuals who supply materials and other resources to a business so that it can conduct its operations
suppliers
A business owned by two or more people (generally a maximum of 20)
partnership
Which management style is the one where the manager unites with staff to make decisions together?
participative management style
Which management skill is the ability to deal or liaise with people and build positive relationships with staff?
interpersonal skills
(or members) the owners of a company
shareholders
a business owned and operated by one person
sole trader
An incorporated business that has a minimum of one shareholder and a maximum of 50 non-employee shareholders, and whose shares are offered only to those people whom the business wishes to have as part owners
private limited company
A management style where the manager attempts to ‘sell’ decisions made
persuasive management style
Which management skill is the ability to influence or motivate people to work towards the achievement of business objectives?
leadership
groups and individuals who interact with the business and have a vested interest in its activities
stakeholders
a business with the objective of fulfilling a social need
social enterprise
An incorporated business with a minimum of one shareholder (and no maximum), and whose shares are openly traded on the Australian Securities Exchange
public listed company