Leadership Principles in Franchising

Play an AI-generated podcast conversation about this lesson

What is the primary goal of strategic management in a franchise business?

Maintaining low performance

Avoiding competent workforce

Ignoring market share

Developing plans to achieve objectives (correct)

Which of the following is NOT a priority for strategic decisions in building a franchise business?

Continually improving efficiency

Positioning the franchise system in long terms

Gaining and maintaining market shares

Being average in products and services (correct)

What is the purpose of continually improving efficiency in a franchise business?

To increase financial returns (correct)

To ignore workforce competence

To slow down market share growth

To decrease quality

Why is it important for a franchise system to position itself for the long term?

To gain and maintain market shares (B) Signup and view all the answers

How does strategic management provide overall direction in a franchise business?

By developing plans and policies to achieve objectives (C) Signup and view all the answers

What is a key principle discussed in leadership for a franchisor?

Developing competent and committed workforce (B) Signup and view all the answers

What is the main purpose of vision and strategy development in a business?

To set future direction (A) Signup and view all the answers

Which of the following is not an area for operations development in a franchisor's organization?

Quality control (C) Signup and view all the answers

What does administrative development in franchising aim to achieve?

Structural and behavioral changes in operations (B) Signup and view all the answers

Which of the following is a key consideration under the 'Human Resource' section of franchisor development?

Manpower requirements (B) Signup and view all the answers

What is one of the objectives of operations development in a franchisor's organization?

Ensure high level of efficiency (B) Signup and view all the answers

In strategic management, what does 'setting future direction' primarily involve?

Assessing issues and opportunities (C) Signup and view all the answers

What are the key leadership principles important to franchising as mentioned in the text?

Directing, Controlling, Motivating, Innovating (C) Signup and view all the answers

Which of the following is NOT a component of 'Directing' in leadership principles for franchising?

Appraisal of performance of franchisees (D) Signup and view all the answers

How does the text define 'Controlling' in the context of leadership principles for franchising?

Appraisal of performance of franchisees (C) Signup and view all the answers

What is the primary focus of 'Motivating' in the leadership principles important to franchising?

Keeping franchisees engaged and inspired (C) Signup and view all the answers

In the context of franchising leadership principles, what does 'Innovating' primarily refer to?

Franchisor's capacity for adaption and innovation (B) Signup and view all the answers

What are the four factors required for a successful leader in a franchising organization?

Vision, Articulation, Development, Strategic agenda (B) Signup and view all the answers