GMS 200 Lecture Notes - Lecture 8: Limited Liability Partnership, Sole Proprietorship, Marketing Strategy

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 200
• Professor: Horatio Morgan

Document Summary

Leadership is the process of inspiring others to work hard to accomplish important tasks. Leaders understand the diversity of people"s gifts, talents, and skills. When leaders recognize the unique qualities of other people, they are less inclined to believe that they as leaders know what is best. Great leaders are able to bring out the best in other people. A future that one hopes to create or achieve in order to improve upon the present state of affairs best captures the idea of vision. Power is the ability to get someone else to do something you want done or to make things happen the way you want. Position power: determined by the person"s place in the hierarchy (or order of authority) of the company. Personal power: determined by the unique qualities of the person. Reward, legitimate, and coercive power are the 3 types of position power. The two types of personal power are expert and referent.