Management Flashcards
Reward power
Someone’s ability to reward another person
Coercive power
Someone’s ability to punish another
Referent power
One’s desire to identify with/imitate another
Expert power
based on the belief that someone has some expertise or special knowledge that others do not
legitimate power
power derived from being in a position of authority within the organisation
negative power
the ability to disrupt operations e.g. by industrial action
What is authority?
The right to exercise power
Flexibility/outlook of human relations culture
Flexible, inward-looking
Flexibility/outlook of open systems culture
Flexible, outward-looking
Flexibility/outlook of rational goal culture
Controlled, outward-looking
Flexibility/outlook of internal process culture
Controlled, inward-looking
What are consumer markets?
Products/services bought for the use of individuals and their families
What are industrial markets?
Products/services bought for the use of companies
What does the 4Ps or 7Ps model outline?
The marketing mix
What are the 7Ps?
Product, Promotion, Place, Price
People, Processes, Physical evidence
What are the four Cs for price?
Cost, Customers, Competitors, Corporate objectives