Final answer:
The 'Big Man' refers to an informal leader who gains respect and authority through wealth accumulation, generosity, and community service, without holding any formal coercive power.
Step-by-step explanation:
The status associated with the leadership position known as a "Big Man" is characterized by the individual's ability to accumulate wealth and act as a key figure within their community through acts of generosity and settling of disputes. Although they hold no formal office, a Big Man's authority comes from their reputation and persuasive power rather than coercion. The Big Man is highly respected and followed due to his ability to sponsor feasts, assist with bride wealth, and equitably distribute resources, thus serving the community and ensuring their loyalty.