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According to Raven, there will be more use of Expert power if the motive is a need for achievement. [3] The ability to administer to another information, knowledge or expertise. [1] (Example: Doctors, lawyers). As a consequence of the expert power or knowledge, a leader is able to convince their subordinates to trust them.
In critical theory, power-knowledge is a term introduced by the French philosopher Michel Foucault (French: le savoir-pouvoir). According to Foucault's understanding, power is based on knowledge and makes use of knowledge; on the other hand, power reproduces knowledge by shaping it in accordance with its anonymous intentions. [ 1 ]
Expert power is an individual's power deriving from the skills or expertise of the person and the organization's needs for those skills and expertise. Unlike the others, this type of power is usually highly specific and limited to the particular area in which the expert is trained and qualified.
Power can be exerted by the use of force or violence. Authority, by contrast, depends on the acceptance by subordinates of the right of those above them to give them orders or directives. Charismatic authority is often the most lasting of regimes because the leader is seen as infallible and any action against him will be seen as a crime against ...
Some commentators have made a distinction between cost leadership, that is, low cost strategies, and best cost strategies. They claim that a low cost strategy is rarely able to provide a sustainable competitive advantage. In most cases firms end up in price wars. Instead, they claim a best cost strategy is preferred.
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
The Anatomy of Power is a book written by Harvard economist John Kenneth Galbraith, originally published in 1983 by Houghton Mifflin Harcourt. [3] It sought to classify three types of power: compensatory power in which submission is bought, condign power in which submission is won by making the alternative sufficiently painful, and conditioned power in which submission is gained by persuasion. [4]
In the mid-1900s, world economies moved towards a post-industrial or mass production system, where they were driven by the service sector that creates greater wealth versus manufacturing; to the late 1900s - 2000s, knowledge economy emerged with the highlights of the power of knowledge and human capital sector, and it's now marked as the latest ...