What is Power Broker? Definition and Example
What is Power Broker?Power broker is a person who uses his/her connection to influence other parties’ decision. With the influence of a power broker, especially on the decisions made by organization, the broker can command attention and high fees for companies, organizations, or even individuals if they want to make a way to a particular project.
Moreover, the brokers are able to be involved in making sale or assets exchange between high-flying parties. It is known as an agent in a sport world. They work to arrange lucrative trade of players in the team. They can also arrange the deal of relocating teams.
The power brokers can also exert in controlling career or even business prospects in the globe of influence. They promote collaboration for individuals or organizations as well. Power broker has effective sway. It makes either individual or organization to pursue the favored concern to press forward a project, or simply an idea, which need some supports from industry, market, or populace.
Power Broker DefinitionIn addition, the brokers are usually the industry insiders. They are familiar with groups or other individuals. For more, they are also able to make a decision or put forth influence. The election of power brokers can be through officials, individuals (which are connected), or even business leader.
What Does a Power Broker do? ExampleA sample of what power broker do can be seen in an industry lobbyists or in a media personnel. This kind of field is familiar for both inside and outside of some issues. Power broker can reach and influence for making decision. They work faster compared to those people who are not familiar with key players.
Especially for the entertainment industry, this field is known to be noted for power brokers. They can arrange contacts for well-known directors, performers, screenwriters, and many more. All of those roles are important for a project. For more, they also arrange the licensing or even right deals, which allow certain studio for developing projects according to famous media properties.
Furthermore, the brokers may and may not be involved directly in both operation and development of the globe influence where they have the connection. The sample of it is consultant, attorney, or ancillary participant. They may not function as CEO or other senior executives in a company. However, the presence and influence having a power broker can give big effect for the company.
Also read "What is Pawnbroker? Definition and Example"