What is meant by countervailing power?
Countervailing power refers to buyer market power (that is, the bargaining power of a buyer). For example, a single large buyer or group of buyers may possess sufficient market power to be able to depress the prices paid to sellers or easily switch between alternative suppliers.
What is Galbraith’s theory of countervailing power?
Abstract. ‘Countervailing power’ is a term coined by J.K. Galbraith (1952) to describe the ability of large buyers in concentrated downstream markets to extract price concessions from suppliers.
What is countervailing power in organizational relationships?
A central tenet of countervailing power theory is that dominance by one party in ways that corrupt the mission of a social institution and societal function of other parties will over time prompt them to organize and alter the balance of power.
What is the synonym of countervailing?
1 counterbalance, counterpoise, neutralize.
What is condign power?
“Condign” (a word usually associated with “punishment,” meaning appropriate to the deed) here connotes power exercised through the use of force or threat. Do what I wish, or you’ll suffer. “Compensatory” power offers rewards for those who yield to it.
What is referent power in psychology?
Referent power is a form of reverence gained by a leader who has strong interpersonal relationship skills. Referent power may be defined as ‘the ability of a leader to influence a follower due to the follower’s admiration, respect, or identification with the leader’.
What is a countervailing evidence?
influencing something in an opposite but equally strong way. countervailing evidence.
What is the countervailing forces model?
From Wikipedia, the free encyclopedia. Countervailing power, or countervailance, is the idea in political theory of institutionalized mechanisms that the wielding of power within a polity having two or more centers can, and often does, provide counter-forces that usefully oppose each other.
What is condign or coercion?
“Condign” (a word usually associated with “punishment,” meaning appropriate to the deed) here connotes power exercised through the use of force or threat.
Why referent power is important in politics?
Referent power is a form of reverence gained by a leader who has strong interpersonal relationship skills. Referent power, as an aspect of personal power, becomes particularly important as organizational leadership becomes increasingly about collaboration and influence and less about command and control.
What is referent power and its example?
Referent power comes from the leader’s personal qualities, as opposed to their organizational role or their capacity to issue rewards or punishments. An example of referent power in the workplace is a manager who is admired and respected by his subordinates and seen as a role model.
What is Countervailance in politics?
Countervailing power, or countervailance, is the idea in political theory of institutionalized mechanisms that the wielding of power within a polity having two or more centers can, and often does, provide counter-forces that usefully oppose each other.
What is countervailing power in marketing?
Countervailing power is the balancing of the power of one group by another group. In marketing terminology, countervailing power refers to the power of the large buyers (trade unions/ stockist etc.) to create competition between its potential suppliers. It is holds true for marketing and political scenarios as well.
What is Galbraith’s countervailing power?
American Capitalism: The Concept of Countervailing Power is a book by John Kenneth Galbraith, written in 1952. It contains a critique of the view that markets, left to their own devices, will provide socially optimal solutions.
Is the balance of power between capital and labour equal?
Although the existence of a degree of countervailing powers is usually regarded as a characteristic of the MIXED ECONOMIES and PLURALIST polities of modern Western capitalist societies, there is usually no suggestion that the balance of power between capital and labour is equal. Want to thank TFD for its existence?