1. E. Planning and Preparing to Manage a Small Business
Identify the concepts of
management for a small business.
Identify different leadership styles.

2. Autocratic (Power-Oriented)
Managers maintain total control over their whole operation.
Effective in large organizations
Effective where employees are untrained, inexperienced, or involved in a crisis

3. Democratic (Achievement-Oriented)
Managers are open to new ideas and seek suggestions from employees.

4. Laissez-Faire
Managers use a “hands off” approach that allows employees to make their own decisions.

5. Theory X Managers Assume the worst of employees Assume they are lazy
Assume they are unmotivated toward advancement
Respond with punishment

6. Theory Y Managers Assume employees want to advance
Tend toward more democratic involvement of employees
Provide ways of rewarding