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Business Studies Grade 12 IEB - General management and Corporate governance summary
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Characteristics of an entrepreneur?
Characteristics of an entrepreneur?
- risk taker
- opportunist
- creativity
- initiative
- hard worker
- motivated
What are the different types of management styles?
What are the different types of management styles?
- democratic: participative leadership style
- autocratic: dictatorship leadership style
- laissez-faire: tells employees what is expected and does not interfere
- transactional: motivates employees by providing monetary or non-monetary rewards for work done
- transformational: motivates employees by helping them to understand and emphasises teamwork
- situational: adapts management style to whatever is best suited in the moment
What is addressed in king code 4?
What is addressed in king code 4?
- apply and explain
- four broad outcomes
- ethical culture: governing body should lead ethically and effectively, business should be managed with ethical culture
- good performance: sustainable value creation, informed reports of value creation (medium-long)
- trust and good reputation: adopt stakeholder inclusive approach, institutional investors
- effective control: delegate power and responsibilities, initiate, manage and look after principles
- has 17 principles of good corporate governance that covers the four broad outcomes
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