Briefly explain the two types of personal powers
What will be an ideal response?
Answer: The two major types of personal powers are expert power and referent power.
Expert Power: Expert power is based on specialized knowledge not readily available to many people. It is a potential source of power because other people depend on, or need advice from, those who have that expertise. Expert power is not confined to higher organizational levels. Lower-level employees can possess some of the most specialized, and yet most needed, knowledge in an organization.
Referent Power: When people are attracted to, or identify with, someone, that person acquires what is called referent power. This power is gained because other people "refer" to that person. They want to please that person or in some way receive acceptance. Referent power often can be recognized by its subtle occurrences. Referent power makes it possible to lead by example rather than by giving orders.
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Using a job analysis for performance appraisal is important because it:
A) allows us to fire or demote an employee more quickly. B) ensures that we are measuring criteria that are actually relevant to the job. C) allows the organization to forecast how many employees it will need to promote within the next few years. D) ensures that we are evaluating employees on subjective, rather than objective, job performance.
The Ajax Fund, which trades on the New York Stock Exchange, was quoted with a NAV of $10 and an offer price of $10.50. Thus, we know the fund is
A) open end with a load. B) closed end with a load. C) closed end with no load. D) open end with no load.