Types of Powers in Business

The following are important power in the Business

1. Power of Reward

Under this power you can approve or disapprove the reward to an employee. The types of rewards available are

• Annual increment
• Bonus 
• Promotion

2. Power of Authority 

Under this power the manager is authorized to issue instruction to subordinate . This power is also known as legitimate power

3. Power of Skill and Expertise

This power comes with job knowledge , experience, qualification. The other people believe in your saying because of your power . for example finance expert opinion about the sources of fiannce and finance structure of the entity would be a final verdict.

4. Personality Power

Some people derive power from the charismatic personality.