Explain the leadership continuum developed by Tannenbaum and Schmidt.
What will be an ideal response?
The leadership continuum, developed by Tannenbaum and Schmidt, identifies seven leadership styles based on the use of boss-centered versus employee-centered leadership. Before selecting one of the seven leadership styles, the user must consider the following three factors, or variables:
1. The manager: What is the leader's preferred style, based on experience and confidence in the subordinates?
2. The subordinates: What is the subordinates' preferred style for the leader?
3. The situation: What are the environmental considerations, such as the organization's size, structure, goals, and technology?
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Answer the following statements true (T) or false (F)
1) Internal control is an organizational plan that ensures that the financial statements are prepared and submitted on time. 2) Controlling operations is a key responsibility of a business manager. 3) It is important for a business to identify policies which ensure that all customers are treated similarly and that results can be measured effectively. 4) Promoting operational efficiency reduces expenses and business profits. 5) If a company does not protect its assets, it is throwing away resources.
Which of the following are descriptive of smart pricing?
a. dynamic pricing b. uses data on customer shopping habits c. allows a company to identify customer preferences d. adjusts prices real-time on the Internet e. all of the above
Fair Trade licensees receive three benefits of being Fair Trade certified. Which is not one?
a. Charge higher prices b. Expect higher revenues c. Increase their workforce d. Improve their images and reputations
In the context of the U.S. economy, which of the following statements is true of small businesses?
A. They are less likely to develop revolutionary new ideas. B. They have a wider span of control than large businesses. C. They are often the last to contract when times are tough. D. They often display a refreshing lack of bureaucracy.