AQA A-Level Business 3.2 Managers, leadership and decision-making overview quiz quiz

Management sets the long-term vision and inspires people, while leadership simply controls resources

They are identical roles that involve exactly the same daily tasks and the same responsibilities

Management plans and controls resources; leadership sets a vision and inspires people

Leadership only exists in large public limited companies, never in small or medium-sized firms

Democratic

Laissez-faire

Paternalistic

Autocratic

Boss-centred and subordinate-centred

Low-cost decisions and high-cost decisions

Internally focused and externally focused

Short-term operations and long-term strategy

The total amount of money a firm actually spends on pursuing a brand new business opportunity

The value of the next best alternative given up when a choice is made

The advertising and marketing budget set aside to promote a new opportunity to customers

The accounting profit earned from the option that the manager finally decides to choose

$120,000

$250,000

$140,000

$100,000

$140,000

$90,000

$230,000

$50,000

A decision point where the manager chooses

A chance event with several possible outcomes and probabilities

The final outcome value reached at the very end of the project

The total combined cost of every option being considered

They are physically unable to display more than one single option on the diagram at a time

They ignore qualitative factors and rely on estimated probabilities

They always produce the wrong answer no matter how accurate the data entered into them is

They can legally only be drawn up and interpreted by fully qualified professional accountants

Cost and revenue

Internal and external

Power and interest

Short-term and long-term

Monitor with minimal effort

Keep informed

Ignore entirely

Keep satisfied

Because fast, decisive action is needed and there is no time for consultation

Because staff always prefer to be told exactly what to do at every moment of the working day

Because an autocratic approach is proven to reliably improve long-term staff motivation over time

Because employment law specifically requires autocratic leadership during any business crisis