Authority

Wikipedia, the free, on-line encyclopedia says, in part:

In politics, authority...is often used interchangeably with the term "power". However,... while "power" refers to the ability to achieve certain ends, "authority" refers to a claim of legitimacy, justification and right to exercise that power. For example, whilst a mob has the power to punish a criminal, such as through lynching, many people consider only the courts have the authority to order capital punishment.

This is important for entrepreneurs because if they can achieve a sort of ligitimacy in the market place, their products sell faster and their business grows more quickly. Or, if they can import legitimacy they can make their products better known, and word of mouth will spread farther and wider.

What do you think? I'd like to know. Post a comment.

Entrepreneurship informs everything I do. For entrepreneurial real estate, go to www.hatman2.blogspot.com and for entrepreneurial writing, to www.kearneymusicschoolmurders.blogspot.com