Business

Natural Monopoly

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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 service The industry can only support one firm Examples of Natural Monopoly An example of a Natural Monopoly would […]
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Natural Monopoly
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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Blake Moulton Grid
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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Laissez-faire – Leadership Style
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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Democratic Leadership Style
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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Paternalistic Leadership Style
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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Authoritarian Leadership Style
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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Leadership Styles
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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Tannenbaum Schmidt Continuum – Theory
Public Limited Company (PLC)

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Public Limited Company (PLC) A business whose ownership is traded on a stock exchange. Shares can be bought and sold by anyone. Public companies are strictly regulated. Public companies are required by law to publish their accurate accounts.  Advantages of PLC Limited liability. Easier to raise finance. Anyone can buy shares. Disadvantages of PLC Not […]
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Public Limited Company (PLC)
Private Limited Company (Ltd)

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Private Limited Company (Ltd) A private limited company is owned by shareholders. It has limited liability and therefore shareholders can only lose what they have invested in the business. Their personal assets will be separate from the business and protected. Shares in a private limited company are not available to the general public. How to […]
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Private Limited Company (Ltd)

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