Define a Joint Venture and List Some of the Advantages

question 151

Essay

Define a joint venture and list some of the advantages and disadvantages.

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Definitions:

Legitimate Power

Aform of authority wherein power is granted through an established structure or system, such as in managerial or governmental roles.

Coercive Power

Coercive power is a form of influence gained from the ability to punish or withhold resources, often utilized in leadership or organizational contexts to enforce compliance.

Reward Power

The influence and control an individual has over others by providing or withholding rewards.

Cause Advocacy

The activity of fighting for, defending, or pleading on behalf of a cause or issue to bring about social change.