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A power strategy that ultimately leads to private acceptance and long-lasting change (for example, information power) may be difficult to implement, and consume considerable time and energy. In the short term, complete reliance on information power might even be dangerous (for example, telling a small child not to run into the street unattended).
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.
The term "curse of knowledge" was coined in a 1989 Journal of Political Economy article by economists Colin Camerer, George Loewenstein, and Martin Weber.The aim of their research was to counter the "conventional assumptions in such (economic) analyses of asymmetric information in that better-informed agents can accurately anticipate the judgement of less-informed agents".
“Money in terms of making trips or owning more houses or having a boat or something — it has no utility to me whatsoever,” said Buffett, who Forbes estimates is worth over $145 billion ...
Strategic leadership balances a focused analytical perspective with the human dimension of strategy making (as documented by the Park Li Group). It is important to engage the entire business in a strategic dialogue in order to lay the foundation for building winning organizations that can define, commit, adjust and adapt their strategy quickly ...
The person coordinating the Delphi method is usually known as a facilitator or Leader, and facilitates the responses of their panel of experts, who are selected for a reason, usually that they hold knowledge on an opinion or view. The facilitator sends out questionnaires, surveys etc. and if the panel of experts accept, they follow instructions ...
The tolerance for power distance also has practical implication, for instance, in the tourist decision-making styles. Members of individualist societies with lower levels of tolerance for power distance are less likely to exhibit brand consciousness when making choices concerning their travelling arrangements, compared with their collectivist ...
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