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LC Business
LC Business

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LC Business

Business Leadership


Leadership: Reflects a person’s ability to influence the actions and behaviours of others. “Lead by Example”

Delegation: Passing on responsibility for certain decisions or outcomes to others.

3 Types of Leader

Autocratic: Very Controlling, Motivates through fear and intimidation. “My way or the highway” E.g Steve Jobs at Apple

  • Benefits: (1) Quick Decision Making (2) Effective in certain situations e.g Low Skilled Factories/ Manufacturing
  • Drawbacks: (1) Demotivates Staff (2) Over Reliance on Managers - Managers are overloaded with decisions and may struggle to cope.

Democratic: are more likely to seek the opinion of others when making a decisions. E.g... (More)

Characteristics of a good manager

Stakeholders involved in buisness / Geallsealbhóirí san gnó

Stakeholders / Geallsealbhóirí

'People who have an affect on how a business is run'

Entrepreneurs / Fiontraí

People who turn ideas into a business / Na duine a athraíonn smaoineamh go dtí gnó.

  • Bill Gates, founder of Microsoft.
  • Mark Zuckerberg, the founder of Facebook.
  • Jeff Bezos, founder of Amazon.
  • Pat McDonagh, founder of Supermacs

Investors / Infheisteoirí

People who give finance to the business, can be in forms of :

  • Owners' capital : Money invested by people, they then become part owners of the business.
  • Loan capital : Finance provided by bank or other lenders and needs to be repaid.... (More)
  • This section requires you to Name, Explain and Link for each point. combining different elements into the one answer. Evaluation may be also required.
  • In answering the questions on the ABQ candidates must explain and make use of relevant knowledge/theory (and understanding) gained in the subject while studying the course in addition to the relevant links from the ABQ.
  • Linking of points made in your answer with the text by relevant quotes/phrases/statements from the ABQ is essential.
  • Read the ABQ provided in full before reading the questions, then go back and highlight the relevant points/links in the text.
  • Present your... (More)