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Questions and Answers
What is the main purpose of asset stripping?
What is the main goal of asset management?
What is the recommended approach to leadership styles?
What is the main assumption of Theory X?
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What is the main assumption of Theory Y?
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What is the potential consequence of asset stripping for stakeholders?
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What type of leadership style is focused on achieving goals and maximizing profits?
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What is the primary goal of financial management?
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What type of leadership approach is often characterized by a rigid structure, strict rules, and a lack of creativity?
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Which of the following is a characteristic of Theory Y?
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Which type of leadership is best suited for situations where quick decisions are needed and close supervision is necessary?
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What is a common disadvantage of Autocratic leadership?
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Which type of leadership approach is often associated with a focus on performance and rewards and punishment?
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What is a common advantage of Bureaucratic leadership?
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What is a characteristic of Theory X?
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Which type of leadership is best suited for industries that require high levels of creativity and innovation?
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Study Notes
Business Finance
- Asset stripping: buying a company to sell its assets for a profit, leaving the remaining company without operational capacity, raising ethical concerns.
- Asset management: externally managing a company's assets to maximize value and achieve goals, including investment, operational, and risk management, and strategic planning.
Leadership Styles
- No single leadership style is suitable for all situations; a combination of styles should be applied based on individuals and situations.
- Theory X: assumes people work for money and security, dislike work, and avoid it if possible.
- Theory Y: assumes workers are highly motivated and self-directing, wanting to achieve their potential with the help of a manager.
Autocratic Leadership
- Authoritarian leader with complete control over individuals and groups.
- Decisions based on personal ideas with little input from others.
- Group expected to follow the leader's decisions without question.
- Advantages: effective in crises, uncertain situations, and when quick decisions are needed.
- Disadvantages: can lead to conflict, low trust, and morale, and talent may leave.
Bureaucratic Leadership
- Rigid rules, standardized processes, and division of labor and responsibilities.
- Decisions made in a pyramid hierarchy with little room for creativity.
- Advantages: consistency, role clarity, control, and stability.
- Disadvantages: slow decision-making, lack of motivation, and red tape.
Transactional Leadership
- Focus on performance, clear short-term goals, and rewards and punishment for meeting or failing to meet goals.
- Assumes workers are motivated by rewards and punishment.
- Requires close monitoring and control of employees.
- Advantages: motivated employees, clear expectations, and control and stability.
- Disadvantages: low innovation, short-term vision, and reliance on leader direction.
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Description
This quiz covers key concepts in leadership and management, including leadership styles, marketing, ethics, human resource management, and more.
