Levin and Co

question 87

Multiple Choice

Levin and Co. is a group of oil refineries that has been in the news recently. The company had to stop production for over two weeks because their key supplier refused to sell them crude oil at the old prices. Even after rounds of negotiations, the supplier refused to give in to the demands of Levin and Co. and finally, the company had to acquire the raw material from the same supplier because alternative suppliers, though abundant, could not provide the quantities the company demanded at such short notice. This shows the role of ________ in increasing the power one enjoys.

• A) substitutability
• B) abundance
• C) exchange
• D) alternatives
• E) dependence

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Definitions:

Transactional Leadership

A leadership style focused on the exchange between the leader and followers, where compliance results in rewards and noncompliance results in punishment.

Laissez-Faire

A leadership style characterized by an absence of direct supervision, allowing team members to make decisions and carry out tasks autonomously.

Leadership Paradox

The concept that effective leadership often involves balancing contradictory qualities or approaches, such as being directive yet empowering.

Entity Theory

The belief that personal qualities such as intelligence are fixed and cannot be changed through effort.