Learning Outcomes • Differentiate between authoritarian, laissez-faire, and democratic management styles • Identify the circumstances under which different management styles are effective • Differentiate between transformational, transactional, and narcissistic leadership styles Managers As Leaders Regardless of their position within an organization, managers need to act as leaders. Some people think leadership means guiding others to complete a particular task, while others believe it means motivating the members of your team to be their best selves. Whatever the differences in emphasis or wording, the following is probably a fair definition: Leaders are people who know how to achieve goals and inspire people along the way. In a business setting, leadership also means being able to share a clear vision of where the company is heading while providing the knowledge, information, and methods needed to get there. A manager can take a number of different approaches to leading and overseeing an organization. A manager’s style of giving direction, setting strategy, and motivating people is the result of his or her personality, values, training, and experience. Let’s examine some of the most common management styles and the circumstances under which each is most appropriate.

• Intro To Business Textbook Answers

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Management Styles Autocratic/Authoritarian Under an autocratic management style, decision-making power is concentrated in the manager. Autocratic managers don’t entertain any suggestions or consider initiatives from subordinates. This style of management is effective for quick decision making but is generally not successful in fostering employee engagement or maintaining worker satisfaction. When do managers tend to use this style?

• In crisis situations, when it’s impractical to solicit employee input, managers may become autocratic. For example, a manager might order employees to vacate the building because of fire or another emergency. Taking the time to seek advice or opinions is not only impractical but could endanger lives. • Traditionally, if the workforce is comprised of low-skill workers, employee input isn’t encouraged because it’s considered to be of limited value or importance.

However, more forward-thinking managers regard all worker input as valuable, regardless of skill level. Laissez-Faire/Free-Rein The laissez-faire style is sometimes described as “hands-off” management because the manager delegates the tasks to the followers while providing little or no direction. If the laissez-faire manager withdraws too much, it can sometimes result in a lack of productivity, cohesion, and satisfaction. Under this type of management, subordinates are given a free hand in deciding their own policies and methods.When do managers employ this approach? • When workers have the skills to work independently, are self-motivated, and are held accountable for results (physicians are a good example), laissez-faire management may be effective. Highly skilled employees require less frequent instruction, and managers must rely on them to use their professional expertise to make sound decisions. • Managers of creative or innovative employees often adopt this approach in order to foster creativity.

Intro To Business Textbook Answers

For example, computer programmers, artists, or graphic designers can benefit from a hands-off management style. Managers step out of the way to make room for new ideas, creative problem-solving, and collaboration. Participative/Democratic Under a participative or democratic style of management, the manager shares the decision-making authority with group members. This approach values individual interests and perspectives while also contributing to team cohesion. Participative management can help employees feel more invested in decisions, outcomes, or the choices they’ve made, because they have a say in them.