Business
Retrenchment
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Definition of Retrenchment Retrenchment in business occurs when they cut down or reduce something to become more financially stable. When does a business use retrenchment? Retrenchment could occur during a recession It could occur when a company is going through financial difficulty The impact of an economic shock to the economy such as the coronavirus […]
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Tradable Pollution Permits (ETS)
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes What are tradable pollution permits? Tradable pollution permits is a system created to encourage firms to reduce their overall pollution levels. It is a cap and trade system allowing firms to sell any unused permits and buy […]
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Natural Monopoly
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Natural Monopoly What is a Natural Monopoly A Natural Monopoly occurs where the industry can only support one firm. Characteristics of Natural Monopolies High start-up costs High fixed costs High barriers to entry Unique product or […]
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Blake Moulton Grid
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Blake Moulton Grid 3.2.1 Understanding management, leadership and decision-making This managerial grid model is a style leadership model developed by Robert R. Blake and Jane Mouton in 1964. The model highlights that there are different management or leadership styles that managers focus on. For example, some managers are more task-focused while others are more team focused. Source: aqa.org.uk Country Club […]
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Laissez-faire – Leadership Style
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Laissez-faire Laissez-faire leadership style means to “leave alone”. Leadership has little input into the day-to-day decision-making as it is delegated throughout the entire team. This can be an effective management style if workers are motivated and can be trusted to complete their jobs to a high standard.
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Democratic Leadership Style
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Democratic Leadership Style Decision making is shared with the group rather than only being made by management. This leadership style allows employees to become more empowered as they are being involved in the decision-making process. This is becoming the most popular leadership style over time. It’s proving to be more effective with the management of skilled […]
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Paternalistic Leadership Style
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Paternalistic Leadership Style The leader decides what is best for his employees with very little delegation. This is a softer form of authoritarian leadership, which often leads to better employee motivation, morale and lower staff turnover. A paternalistic leader is likely to explain his actions to his employees more than an authoritarian leader.
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Authoritarian Leadership Style
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Authoritarian Leadership Style Authoritarian leaders hold onto as much power and decision making as possible. There is very little delegation and the power is from top management to workers at the bottom of the chain. This is usually used when workers are unskilled.
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Leadership Styles
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Leadership Styles A leadership style refers to a leader’s methods of directing, motivating, guiding, and managing a group of people. The four main leadership styles are highlighted below: 1. Authoritarian Authoritarian leaders hold onto as much power and decision making as possible. There is very little delegation and the power is from top management to workers at […]
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Tannenbaum Schmidt Continuum – Theory
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Tannenbaum Schmidt Continuum – Theory Understanding management, leadership and decision-making The Tannenbaum and Schmidt Continuum theory highlights the relationship between the different levels of freedom that a manager chooses to give to his employees and the level of authority he decides to use when managing his staff. Source: aqa.org.uk When to use this theory? This theory is […]
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