With reference to the seven levels of corporate power addressed in the text, how did the power of Standard Oil change society? The seven levels of corporate power, which are specific to their business environment are:●Economic Power: Ability to influence people, events and activities by virtue of control over resources●Technological Power: Ability to influence the direction, rate, characteristics and consequences as physical innovations develop●Political Power: Ability to influence governments●Legal Power: Ability to shape society’s laws●Cultural Power: Ability to influence cultural values, habits and institutions, such as families●Environmental Power: The impact a company has on nature●Power Over Individuals: Ability to control peopleIt is evident in the reading John D. Rockefeller was extremely strong in numerous powers. The Standard Oil changed society through all powers as his business grew over the years. StandardOil was able to use their influence to eliminate the competition enabling them to monopolize the industry. Their strength initially made it difficult for others to enter the oil industry. The trust model developed by Standard Oil improved life as people knew it with the introduction of the
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- Fall '15
- Business, Standard oil, John D. Rockefeller, Rockefeller family, Charles Pratt