CAIB 4 Chapter 4 Questions with Verified Solutions

CAIB 4 Chapter 4 Questions with Verified Solutions Successful leadership results in knowledgeable, dedicated and motivated employees working effectively together to achieve the brokerage's mission, strategies, objectives and goals. Identify the six components of leading. 1. Delegating 2. Motivating 3. Communicating 4. Managing conflict 5. Managing change 6. Coaching Delegating is the art of accomplishing objectives and achieving goals through the involvement of others and by giving them the authority and the responsibility to accomplish a job. The key to delegating in communication. Identify two things that must be effectively communicated. 1. The nature of the task 2. The expected results Identify two things that must be clearly defined. 1. The scope of the authority 2. The responsibility Delegation breaks down when the balance between responsibility and authority is not maintained or when communication between the parties is not clear. Give two examples to demonstrate your understanding of this statement. 1. A manager who asks an employee to do a job but tightly controls how the job is done and retains the right to make important decisions is not practising delegation. 2. A manager who asks an employee to do a job but does not give direction, does not monitor key elements and does not retain the right to make decisions, is not exercising proper delegation. The level of need will control the strength of the desire and the resulting action, therefore motivation comes from within. It may not be possible for on individual to motivate another but only to awaken the needs and wants of that individual. Identify six needs that are generally important to people. 1. Money 2. Job security 3. Advancement & promotions 4. Good working conditions 5. Recognition 6. Appreciation Complete the ranking list of what employees said motivated them, compared to what a group of managers said they believed would motivate their employees. 1. Appreciation 1 8 2. Feeling 'in' on things 2 10 3. Help with personal problems 3 9 4. Job security 4 2 5. Good wages 5 1 6. Interesting work 6 5 7. Promotion & advancement 7 3 8. Management loyalty to employees 8 6 9. Good working conditions 9 4 10. Tactful discipling 10 7 What can you note about the top two motivators for the employees and the cost to the companies? The top two motivators for this group of employees did not cause the companies involved significant cost. Communication is an interactive exchange of verbal and non-verbal information, and to be effective it must be two-way. Briefly explain what is required to achieve effective two-way communication. Ideas, opinions and information must be free flowing from one individual to another. It must also be marked by active, responsible, listening. It must not be stressful, and it should be clear and direct. Identify four techniques that will help a person to practice active listening. 1. Clarifying and checking for meaning 2. Using questioning techniques & getting feedback 3. Listen twice as much as you speak 4. Actively engage in the conversation & not