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EOPA JFarmer 3

Entrepreneurship

TermDefinition
Autocratic Leadership Leader who does not listen to other people but make all decisions themselves. The make decisions alone because they do not trust others.
Laissez-Fair Leader They simply choose not to lead. They lack confidence in their leadership abilities and allow others to make decisions.
Democratic Leadership They listen to other people’s opinions and encourage the exchange of ideas. These leaders help develop a sense of responsibility among group members. When they make a decision, they explain the reason behind it.
Slack Resources Extra cushion of resources.
Ethical Dilemma Difference between right and wrong.
Differentiation Making a product or service unique.
Vulnerability Threats to the strengths of the company
Chain of Command The order in which authority and power in an organization is wielded and delegated from top management to every employee at every level of the organization
Human Skills The ability to work well with others,work effectively within groups, encourages others to express their thought and feelings, are sensitive to others’ needs and viewpoints, and are good listeners and communicators.
Created by: jasminefarmer939
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