INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Autocratic model
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Custodial model
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Supportive model
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Collegial model
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Detailed explanation-1: -The custodial model was used by the progressive managers. Some of the important features of this model are as explained below: (i) The success of the Custodial Model depends upon the economic resources because this model emphasizes the economic rewards and benefits.
Detailed explanation-2: -Collegial models include all those theories that emphasize that power and decision-making should be shared among some or all members of the organization (Bush, 2003): Collegial models assume that organizations determine policy and make decisions through a process of discussion leading to consensus.
Detailed explanation-3: -The custodial model is based around the concept of providing economic security for employees – through wages and other benefits – that will create employee loyalty and motivation.