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We learned in this chapter that there are laws against price discrimination.Yet,many firms openly engage in such practices.For instance,most hotel chains offer discounts to senior citizens that translate into prices that are about 10 percent lower than prices charged to other hotel guests.Why are such firms allowed to engage in such practices?
Charismatic Leadership
A leadership style characterized by an individual's ability to inspire and motivate others based on their personal charm and persuasion.
Referent Power
A form of influence based on personal traits and relationships rather than formal authority, where followers identify with, like, or respect the leader.
Strategic Vision
A clear and aspirational view of the future state that an organization or individual aims to achieve.
Transformational Leadership
A style of leadership where a leader works with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of a group.
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