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Business Vocab

vocab words from today

TermDefinition
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.
Created by: ColbyC
 

 



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