Introduction to Microservice Architecture Using SpringBoot - Part 1

11] Span of management ?

The Span of Management refers to the number of subordinates who can be managed efficiently by a superior. Simply, the manager having the group of subordinates who report him directly is called as the span of management.

The Span of Management has two implications:

1. Influences the complexities of the individual manager’s job

2. Determine the shape or configuration of the Organization

12] Qualities to be good leader ?

1. Vision

Perhaps the greatest quality any leader can have is vision - the ability to see the big picture of where the organization or team they are working within is headed, what it's capable of, and what it will take to get there.

2. Inspiration

Equally as important as having a vision is the ability to convey that vision to others, and get them excited about it. This means maintaining a positive yet realistic presence within the organization helping team members stay motivated and engaged, and remember what it is that they are working for.

3. Strategic & Critical Thinking

A good leader will be able to think critically about the organization or team they work within, and develop a clear understanding of its strengths, weaknesses, opportunities, and threats (and how they as an individual can work to support or overcome these). They'll be able to course-correct when necessary, and be able to assess the work they do to determine how it fits into overall organizational strategy and goals.

4. Interpersonal Communication

Good leaders must be able to interact with other people in a way that feels genuine. This does not mean you have to be an extrovert or a people person to be a leader

5. Open-Mindedness & Creativity

Being a good leader means being open to new ideas, possibilities, and perspectives, and understanding that there's no "right" way to do things.

6.Responsibility & Dependability

One of the most important qualities a leader can have is a sense of responsibility and dependability. This means displaying those traits in your individual work, but also demonstrating them in your interactions with others.

13] difference between management and leadership?

1. Differences in Vision

Leaders are considered as visionaries. They set the pathways to excel the organizational growth. They always examine where their organization stands, where they want to go, and how they can reach there by involving the team.

In comparison, managers set out to achieve organizational goals by implementing processes, such as budgeting, organizational structuring, and staffing. Managers' vision is bound to the implementation strategies, planning, and organizing tasks to reach the objectives set out by leaders. However, both of these roles are equally important in the context of business environments and necessitate associative efforts.

2. Organizing vs Aligning

Managers achieve their goals by using coordinated activities and tactical processes. They break down long-time goals into tiny segments and organize available resources to reach the desired outcome.

On the other hand, leaders are more concerned with how to align and influence people than how to assign work to them. They achieve this by assisting individuals in envisioning their function in a wider context and the possibility for future growth that their efforts may give.

3. Differences in Queries

A leader asks what and why, whereas a manager focuses on the questions how and when. To do justice to their duties as a leader, one might question and challenge the authority to reverse decisions that may not be in the better interests of the team. If a firm has a stumbling block, a leader will be the one to step up and ask, What did we learn from this? and Why has this happened?

On the other hand, managers are not required to assess and analyze failures. Their job description emphasizes asking How and When, which assists them in ensuring that plans are carried out correctly. They prefer to accept the status quo and make no attempt to change it.

4. Position vs Quality

A manager is a role that frequently refers to a specific job within an organization's structure, whereas the term leader has a more ambiguous definition. Leadership emerges as a result of your actions. You are a leader if you act in a way that inspires others to do their best. It makes no difference what your title or position is. On the other hand, a manager is a job title that comes with a fixed set of responsibilities.

14] adv and disadv of finantial ratio ?

Advantages of Ratio Analysis are as follows:

• Helps in forecasting and planning by performing trend analysis.
• Helps in estimating budget for the firm by analysing previous trends.
• It helps in determining how efficiently a firm or an organisation is operating.
• It provides significant information to users of accounting information regarding the performance of the business.

Disadvantages of Ratio Analysis are as follows:

• Financial statements seem to be complicated.
• Several organisations work in various enterprises each possessing different
• environmental positions such as market structure, regulation, etc., Such factors areimportant that a comparison of 2 organisations from varied industries might be ambiguous.

15] DIFFERENCE BETWEEN TRANZECTIONAL AND TRANSFORM ?

Transactional leadership is primarily based on processes and control, and requires a strict management structure. Transformational leadership, on the other hand, focuses on inspiring others to follow, and it requires a high degree of coordination, communication, and cooperation.The difference can be summed up as follows: transactional leadership looks at how to get things done, and transformation leadership looks at how to motivate people to do things.

16] LEADERSHIP STYLE?

A leadership style refers to a leader’s methods and behaviors when directing, motivating, and managing others. A person’s leadership style also determines how they strategize and implement plans while accounting for the expectations of stakeholders and the well-being of their team.

17] What is free-rein leadership?

Also known as laissez-faire leadership, free-rein leadership is a type of management style where supervisors give team members freedom to complete tasks, make decisions or solve problems without interfering, unless the employees request it.

18] ECONOMIC ORDER QUALITY ?

Economic order quantity (EOQ) is a calculation companies perform that represents their ideal order size, allowing them to meet demand without overspending. Inventory managers calculate EOQ to minimize holding costs and excess inventory.

It doesn’t matter if your business sells jelly beans, appliances, furniture or airplanes. Finding the economic order quantity for every product you purchase is almost certain to impact the bottom line. Every business that manages inventory can benefit from measuring and following the EOQ.

19] What Is a SWOT Analysis?

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business.

SWOT Analysis is a tool that can help you to analyze what your company does best now, and to devise a successful strategy for the future. SWOT can also uncover areas of the business that are holding you back, or that your competitors could exploit if you don't protect yourself. A SWOT analysis examines both internal and external factors – that is, what's going on inside and outside your organization. So some of these factors will be within your control and some will not. In either case, the wisest action you can take in response will become clearer once you've discovered, recorded and analyzed as many factors as you can.

20] BARRIER OF EFFECTIVE COMMUNICATION ?

Psychological Barriers 

There are various mental and psychological issues that may be barriers to effective communication. Some people have stage fear, speech disorders, phobia, depression etc. All of these conditions are very difficult to manage sometimes and will most certainly limit the ease of communication.

Emotional Barriers

The emotional IQ of a person determines the ease and comfort with which they can communicate. A person who is emotionally mature will be able to communicate effectively. On the other hand, people who let their emotions take over will face certain difficulties. Physical Barriers to Communication They are the most obvious barriers to effective communication. These barriers are mostly easily removable in principle at least.Cultural Barriers of Communication As the world is getting more and more globalized, any large office may have people from several parts of the world. Different cultures have a different meaning for several basic values of society.

Attitude Barriers

Certain people like to be left alone. They are the introverts or justpeople who are not very social.