Leah Is a Manager in an IT Firm

question 31

Essay

Leah is a manager in an IT firm. When she was hired, she was up-to-date on all of the latest technology. Now, five years later, some of her new hires seem to know more than she does, and she is beginning to feel that they do not value her input because they know more about the job than she does. She wants to stay ahead of her employees on the latest trends and be a source of knowledge for them. Discuss the various ways Leah can take steps to ensure that she has an adequate amount of expert power to perform her leadership roles.

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Definitions:

Marginal Utility

The additional satisfaction or benefit (utility) that a consumer derives from purchasing one more unit of a good or service.

Marginal Utility

The additional satisfaction or utility received from consuming one more unit of a good or service.

Demand Schedule

A demand schedule is a table that lists the quantity of a good that consumers are willing to purchase at various prices.

Total Utility

The overall satisfaction or benefit a consumer receives from consuming a certain quantity of a good or service.