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In a notable study of power conducted by social psychologists John R. P. French and Bertram Raven in 1959, power is divided into five separate and distinct forms. [1] [2] They identified those five bases of power as coercive, reward, legitimate, referent, and expert.
A graphical representation of Porter's five forces. Porter's Five Forces Framework is a method of analysing the competitive environment of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness (or lack thereof) of an industry in terms of its profitability.
Strategic management processes and activities. Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."
Power as a relational concept: Power exists in relationships. The issue here is often how much relative power a person has in comparison to one's partner. Partners in close and satisfying relationships often influence each other at different times in various arenas. Power as resource-based: Power usually represents a struggle over resources ...
Andrews concludes that it is "the most thought-provoking book on organization and management ever written by a practicing executive." [2]: xxi He contrasts Functions of the Executive with the "classical" approaches to organizations found in books such as Principles of Management by Harold Koontz and Cyril J. O'Donnell. [2]: xiv, xxii
None of these outcomes is a happy one. Disputes settled on the basis of power, such as through a strike or a lockout in a labor-management dispute, are often deeply resented by the loser. Such settlements may be resisted and the winner defeated in underground ways that are difficult to detect and to counter.
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Competitors are equal in size and power as poaching business is hard to avoid; Industry growth is slow. This causes competing organisations to fight for market share; Exit barriers are high (e.g. highly specialised assets and management devotion).