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Business Vocab
vocab words from today
Term | Definition |
---|---|
Leader | A person or thing that holds a dominant or superior position within its field, and is able to exercise a high degree of control or influence over others |
Leadership | The act of inspiring subordinates to perform and engage in achieving a goal |
Power | Ability to cause or prevent an action, make things happen; the discretion to act or not act. Opposite of disability, it differs from a right in that it has no accompanying duties. |
Position Power | Authority and influence bestowed by a position or office on whoever is filling or occupying it. |
Reward Power | The extent to which an entity can control the dispensing of rewards or benefits |
Expert Power | Ability to influence other parties based on expertise and knowledge |
Identity Power | ability to influence others based on their identity with the person |
Leadership Style | the manner and approach of providing direction, implementing plans, and motivating people to accomplish a task |
Initiative | An individual's action that begins a process, often done without direct managerial influence |
Human Relations | A department in an organization responsible for the management of hiring qualified personnel for the purpose of filling vacant positions |
Integrity | Strict adherence to a moral code, reflected in transparent honesty and complete harmony in what one thinks, says, and does. |
Autocratic Leadership | one person controls all the decisions and takes very little inputs from other group members |
Democratic Leadership | Involves a team guided by a leader where all individuals are involved in the decision-making process to determine what needs to be done and how it should be done |
Free-rein Leadership | Leadership style where subordinates are not directly supervised and instead must function on own and prove their worth through accomplishments |
Delegate | entrust a task or responsibility to another person, typically one who is less senior than oneself |
Self-managed teams | A self-organized, semiautonomous small group of employees whose members determine, plan, and manage their day-to-day activities and duties under reduced or no supervision |
Open Leader | having the confidence and humility to give up the need to be in control while inspiring commitment from people to accomplish goals |
Situational Leader | Popular model of leadership created by Paul Hersey and Ken Blanchard, with belief that effective leadership requires flexibility in leadership styles depending on the situation. |