Identify the five types of leadership power and explain each
What will be an ideal response?
Answer: Power is the ability to affect the behavior of others. Legitimate power is power granted through the organizational hierarchy; it is the power defined by the organization to be accorded to people occupying a particular position. Reward power is the power to give or withhold rewards. Rewards that a manager may control include salary increases, bonuses, promotion recommendations, praise, recognition, and interesting job assignments. Coercive power is the power to force compliance by means of psychological, emotional, or physical threat. Compared with legitimate, reward, and coercive power, which are relatively concrete and grounded in objective facets of organizational life, referent power is abstract. It is based on identification, imitation, loyalty, or charisma. Expert power is derived from information or expertise. The more important the information and the fewer the people who have access to it, the greater is the degree of expert power possessed by any one individual.
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A budget that adds a new month at the end of the budget when a month is completed, resulting in a budget that is always one year in advance is a:
a. Flexible budget. b. Static budget. c. Continuous budget. d. Capital budget.
To satisfy the UCC’s Statute of Frauds, a writing indicating an intent to form a sales contract must signed by both parties
Answer the following statement true (T) or false (F)
The result of closing entries is that balances in all temporary accounts
a. are adjusted to historical cost. b. include monthly depreciation. c. are adjusted to zero. d. are adjusted to budgeted amounts. e. are adjusted to current values.
Which of the following statements is most accurate in the M&M world including taxes and financial distress?
A) Overall market value of the firm = market value of all-equity firm - value of interest tax shield — costs of financial distress B) Overall market value of the firm = market value of all-equity firm + value of interest tax shield — costs of financial distress C) Overall market value of the firm = market value of all-equity firm - value of interest tax shield + costs of financial distress D) Overall market value of the firm = market value of all-equity firm + value of interest tax shield + costs of financial distress