Explain expectancy theory, and discuss how managers can use this model to help motivate subordinates.
What will be an ideal response?
Expectancy theory contains three elements: expectancy (belief in the ability to perform at a certain level), instrumentality (expectation that successful performance of the task will lead to the desired outcome), and valence (value or importance attached to a possible outcome. Managers can use this to make sure that employees are high on all three of these elements, because a deficiency in any one of them results in low motivation to perform.
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Which of the following lists is in the correct order, based on the amount of effort consumers are willing to spend in searching for the "right" product, from little effort to much effort?
A. homogeneous shopping products, heterogeneous shopping products, staples B. staples, heterogeneous shopping products, unsought products C. convenience products, homogeneous shopping products, specialty products D. heterogeneous shopping products, specialty products, unsought products E. unsought products, homogeneous shopping products, convenience products
The most uncommon type of duress involves the use of physical compulsion
Indicate whether the statement is true or false
Detrimental Reliance. Red Owl Stores, Inc, induced the Hoffmans to give up their current business and run a Red Owl franchise. Although no contract was ever signed, the Hoffmans incurred numerous expenses in reliance on Red Owl's representations. When
the deal ultimately fell through because of Red Owl's failure to keep its promise concerning the operation of the franchise agency store, the Hoffmans brought suit to recover their losses. Will the Hoffmans succeed?
How is the average number of days to collect accounts receivable computed?
A. Sales ÷ Net accounts receivable B. Accounts Receivable ÷ 365 C. Accounts Receivable ÷ Net income D. 365 ÷ Accounts receivable turnover ratio