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10 Cards in this Set
- Front
- Back
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What is an Autocratic leader? |
An autocratic leader centralizes power and decision-making in himself. He gives orders, assigns tasks and duties without consulting the employees. The leader takes full authority and assumes full responsibility.
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What is an Democratic leader? |
Democratic leaders decentralise authority. It is characterised by consultation with the subordinates and their participation in the formulation of plans and policies. He encourages participation in decision-making.
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What is an Laissez Faire leader? |
Avoid power and responsibility. The laissez-faire or non-interfering type of leader passes on the responsibility for decision-making to his subordinates and takes a minimum of initiative in administration. He gives no direction and allows the group to establish its own goals and work out its own problems.
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What is a Paternalistic leader? |
Function is fatherly or paternal. Paternalism means papa knows best. The relationship between the leader and his group is the same as the relationship between the head of the family and the members of the family. The leader guides and protects his subordinates as members of his family. |
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What is price elasticity? |
Elasticity - a measure of the effect of a price change or a change in the quantity supplied on the demand for a product or service. |
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What is price inelasticity? |
If the price increase had no impact whatsoever on the quantity demanded, the medication would be considered perfectly inelastic
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What is the Boston Matrix? |
The Boston Matrix is a more informal marketing tool used for product portfolio analysis and management, developed by the Boston Consulting Group in the early 1970s.
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What are Stars? |
Products that have the best market share and generate the most cash are considered stars. Monopolies and first-to-market products are frequently termed stars. However, because of their high growth rate, stars also consume large amounts of cash.
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What are DOGS? |
Dogs are units or products that have both a low market share and a low growth rate.They frequently break even, neither earning nor consuming a great deal of cash. Dogs are generally considered cash traps because businesses have money tied up in them, even though they are bringing back basically nothing in return.
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What are Cash Cows? |
Cash cows are the leaders in the marketplace and generate more cash than they consume. These are business units or products that have a high market share, but low growth prospects.
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