1.Ability to cause or prevent an action, make things happen; the discretion to act or not act. Opposite of disability, it differs from a right in that it has no accompanying duties.
2.Law: (1) An instrument transferring or vesting legal authorization. (2) The ability conferred on a person by law to determine and alter (by his or her own will) the rights, duties, liabilities, and other legal relations, of himself or others.
The Balance of Power Between Vendors and Customers
"The balance of power between vendors and customers depends a lot on how many of each there are. When you're a vendor, try to be the exclusive provider. When you're a customer, try to have at least two potential vendors for each product or service (and if appropriate, actually work with both on an ongoing basis)."
- Tom Murcko
How much power do your buyers have?
"Take a lesson from Delphi, the giant auto parts supplier stuck in Chapter 11 despite its $26 billion in annual sales: It's no fun to be in a business where a few big customers can demand price cuts with each passing year. Meanwhile, movie theaters--even while besieged by video-on-demand and other services--still manage to push higher prices on the disaggregated masses. The cost of a seat at a Regal Entertainment Group theater in lower Manhattan is now $12--up 20% in less than three years."
- Brett Nelson
One Definition of Power
"Power (n): The only narcotic regulated by the SEC rather than the FDA."
The Power of Money
"There is no fortress so strong that money cannot take i