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Chris was the business manager for a real estate firm earning an annual salary of $40,000.Then Chris decided to become a consultant.Chris hired an administrative assistant at $15,000 per year and rents office space (utilities included) for $3,000 per month.Chris earned $100,000 in total revenue the first year as a consultant.
Chris's explicit annual cost is _____ and Chris's implicit cost is ______.
Mavens
Individuals recognized for their knowledge and insights in specific areas, often influencing the opinions and decisions of others.
Core Ties
The strong, essential relationships within a person's social network, often characterized by significant emotional closeness and support.
Organizational Authority
The power vested in a role or roles within an organization to make decisions, direct tasks, and enforce rules.
Legitimate
Something that is legal, rightful, and in accordance with recognized or accepted standards or principles.
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