Page 3: Types of Management style
There are several different management styles. For example, managers may be:
- Authoritarian (or autocratic). This type of manager tells subordinates what to do. An authoritarian approach may be necessary if tasks have to be completed quickly or if subordinates lack the experience or skills required for the job. This style of management may de-motivate employees, if they do not feel they have an input into what happens in the business. Supporters of an authoritarian style of management can point to some outstanding successes. Equally, critics can cite some spectacular failures.
- Democratic. This type of manager adopts more of a listening approach. Employees have an input into the decision-making and managers can benefit from their ideas. Greater involvement may motivate employees by meeting their esteem needs but also delay decision making.
There are, of course, other management styles too. Philip Green's style is probably best described as being firmly entrepreneurial. He sees opportunities and is willing to take risks but only after he has examined relevant data carefully.
Green says of himself: 'I am brave but I take a view. It is an educated view. I am careful; I am not reckless.' He constantly seeks new ideas and better ways of doing things. He also encourages others to use their initiative and is renowned for his energy and for his attention to detail. He focuses on every aspect of retailing from what stores actually stock to how the products are laid out and displayed.
Within his chosen field of expertise, Green has an excellent grasp of what customers want and are willing to pay for. He is passionate about retailing and has a hands-on approach. In this way he ensures that he understands every aspect of the business.
He started in shoe wholesaling at age 16 and set up his own business at 21. He has made a career by identifying and acquiring undervalued assets, buying left over stock and turning around under performing retail chains.
Green bought the department store Bhs in 2000 before buying the Arcadia Group two years later. His success with both Bhs and Arcadia has clearly established him as one of the UK's most successful retail entrepreneurs. He bought Arcadia for £800m and just two years later, it was valued at £2.3bn.
One of his strengths is an ability to make decisions quickly. In such a fast moving and competitive environment as fashion retailing, rapid decision-making is vital. If you get it wrong, or are slow to react to a changing environment, competitors are equally fast to catch up to your business.
Green appreciates the value of having good managers around him. He likes to give them the space to make their own decisions. His employees are set demanding targets but have the authority to decide for themselves how best to achieve them.
Working for Green is demanding because there are always new challenges within such a fast paced environment. It is also fulfilling because there is a sense of achievement when targets are hit. For those that are successful there are very good rewards and excellent promotion opportunities.