BTEC Business Unit 6 - Management Practice Exam Question And Verified Correct Detailed Answers.

Management Styles - Management by Objectives (MBO) - correct answer Management which includes objectives set by a manager. The set objectives must be reached within a given time period. These objectives must be linked to strategic plans set out by managers in order to contribute to business success. Management Styles - Situational and Contingency Management - correct answer Management which will adapt the management approach to cater for particular circumstances. Management Styles - Functional and Action Centred - correct answer Management which highlights the core actions that the manager must take to lead the team effectively, rather than the leadership style that you choose. The three actions include; Task - The actions that you take to achieve a goal. Team - Your actions to encourage effective teamwork Individual - Actions that address each team member's needs Management Styles - Transformational Leadership - correct answer Management that, enabled by a leader's vision and inspiration, should encourage innovation throughout the workforce. Managers should act as a role model for employees Management Styles - Transactional Management - correct answer Management which is only concerned with getting the job done with little disruption. It's based on an exchange process in which followers are rewarded for good performance and punished for poor performance Leadership Continuum - correct answer Continuum identifies a range of levels of leadership from boss-centred to subordinate-centred leadership. Scales range between Autocratic and Free Reign and businesses can be situated anywhere on the scale. Functions of Management - Planning - correct answer Involves identifying goals, establishing objectives, and implementing action plans within the constraints of the organization Functions of Management - Organising - correct answer Involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives Functions of Management - Coordinating - correct answer Involves managers ensuring that different departments and groups work in sync together to contribute to overall business goals Functions of Management - Controlling - correct answer the process of evaluating and correcting activities to keep the workforce on course for achieving overall business goals Functions of Management - Monitoring - correct answer Measuring the performance of employees and work groups using current data and comparing against established standard Functions of Management - Delegating - correct answer Includes the manager dividing the work and allocating it to subordinates. This helps in reducing the managers work load so that they can work on more important areas. Leadership Styles - Autocratic - correct answer A form of leadership in which the leader makes decisions on their own and then announces those decisions to the group. Leadership Styles - Democratic - correct answer a leadership style that promotes the active participation of workers in making decisions Leadership Styles - Paternalistic - correct answer Management style that involves treating workers as family members, so managers make decisions believed to be in the best interest of the workforce. Leadership Styles - Lassiez-Faire - correct answer Leadership style where followers set their own goals. Managers will avoids discussion and interaction with followers. Managers will not give feedback or even reward or punish employees for their work Leadership Styles - Transactional - correct answer leadership that motivates subordinates by rewarding them for high performance and reprimanding them for low performance Leadership Styles - Transformational - correct answer leadership that generates awareness and acceptance of a group's purpose and mission and gets employees to see beyond their own needs and self-interests for the good of the group Leadership Styles - Charismatic - correct answer a leadership style in which extremely self-confident leaders inspire unusual dedication to themselves by relying upon their strong personalities and charm Setting Objectives - correct answer Leaders & Managers need to be able to set effective SMART objectives - correct answer