Chapter 5 General Management

Select 3 qualities/skills of an entrepreneur.

• Opportunist

• Risk-taker

• Sensitive

• Innovative

Select the definition of the Democratic management style.

• Allows subordinates participation in decision making, allowing for buy-in approach and commitment. However can lead to slower decision making.

• Allows for no external input resulting in low morale.

Select the correct definition for the Transactional management style.

• Combination of all management styles based off the situation at hand.

• Motivates and manages employees through compensation for good performance.

Give 3 examples of non-monetary motivational factors.

Give 4 managerial competencies.

Give 4 factors of corporate governance and the king code.