Power is based on the ability of one party to influence those things (the “stakes”) that matter to other parties to a degree that causes those other parties to eventually do something they would not have done without the first part’s actual or implied intervention. Despite popular belief, power is not particularly related to an imbalance of information available to the parties. Instead, the asymmetry relates to the terms of exchange in a relationship: the reciprocal possibilities of action. The imbalance – thus the “power” – comes from the fact that A can make a greater difference regarding stakes that matter to B than the reverse…Power is not an attribute of people. Rather, it stems from a relationship tied to a situation.
Source: Boston Consulting Group (BCG)
Subjects: Organizational Behavior, Power / Authority