List several situational approaches to leadership and describe one of them.

What will be an ideal response?


Student answers will vary but should demonstrate knowledge and understanding of the various situational leadership approaches. The Vroom model emphasizes the participative dimension of leadership: how leaders go about making decisions. The model uses the basic situational approach of assessing the situation before determining the best leadership style. The Vroom model operates as a decision tree in which you answer a series of questions one at a time, choosing high or low for each; the specifics are not important here. Eventually you reach one of 14 possible endpoints. For each endpoint, the model states which of five decision styles is most appropriate. Several decision styles may work, but the style recommended is the one that takes the least amount of time. According to Fiedler's contingency model of leadership effectiveness, effectiveness depends on two factors: the personal style of the leader and the degree to which the situation gives the leader power, control, and influence over the situation. Fiedler measured leadership styles with an instrument assessing the leader's least preferred co-worker (LPC); that is, the attitude toward the follower the leader liked the least. Based on the LPC score, Fiedler considered two leadership styles. Task-motivated leadership places primary emphasis on completing the task and is more likely exhibited by leaders with low LPC scores. Relationship-motivated leadership emphasizes maintaining good interpersonal relationships and is more likely from high-LPC leaders. Hersey and Blanchard's situational theory highlights the maturity of the followers as the key situational factor. Job maturity is the level of the follower's skills and technical knowledge relative to the task being performed; psychological maturity is the follower's self-confidence and self-respect. High-maturity followers have both the ability and the confidence to do a good job.

Business

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As a product moves into the market maturity stage of the product life cycle,

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Indicate whether the statement is true or false

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What is the maximum approximate strike price where early exercise would occur with an American call option? A) $29 B) $33 C) $42 D) $46

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