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)

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)