Define power and influence and provide an example of each.
What will be an ideal response?
Power is defined as “having the discretion and the means to asymmetrically
enforce one’s will over others.” Nearly all definitions of leadership include the idea of
influencing others, and power is the source of influence. Influence can, therefore, be
thought of as power in use.
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A company made an error in recording the Year 1 purchase of computer equipment as an expense. This was discovered in Year 2. The item should be reported as a prior period adjustment on the Year 2 income statement.
Answer the following statement true (T) or false (F)
Sharing knowledge and information throughout the organization can be a means of
A. continuing with outdated products. B. overusing email. C. conserving resources. D. conserving products and services.
Innovative Inc is experiencing a boom for the products it has introduced recently. The estimated annual sales projected for the next five years are given in the following table. The current capacity is equivalent to only $100 million sales
The company is considering the alternative of expanding capacity to an equivalent of $250 million sales. Assume a 25 percent pretax profit margin. What is the increase in total pretax cash flow (summed over all years) that would be enjoyed because of the expansion? Year Annual Sales (in $ million) 1 100 2 140 3 170 4 200 5 250 A) less than or equal to $40 million B) more than $40 million but less than or equal to $70 million C) more than $70 million but less than or equal to $100 million D) more than $100 million
Reactions to frustration are known as defense mechanisms.
Answer the following statement true (T) or false (F)