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The Vroom–Yetton contingency model is a situational leadership theory of industrial and organizational psychology developed by Victor Vroom, in collaboration with Philip Yetton (1973) and later with Arthur Jago (1988). The situational theory argues the best style of leadership is contingent to the situation.
Fiedler's contingency model is a dynamic model where the personal characteristics and motivation of the leader are said to interact with the current situation that the group faces. Thus, the contingency model marks a shift away from the tendency to attribute leadership effectiveness to personality alone. [5]
The contingency theory is also beneficial as it widened our understanding of leadership, by persuading individuals to consider the various impacts of situations on leaders. Another strength of the contingency theory is its predictive nature that provides an understanding to the types of leaders that will be most effective in specific situations.
Functional leadership theory (Hackman & Walton, 1986; McGrath, 1962) is a theory for addressing specific leader behaviors expected to contribute to organizational or unit effectiveness. This theory argues that the leader's main job is to see that whatever is necessary to group needs is taken care of; thus, a leader can be said to have done ...
Markov decision process (MDP), also called a stochastic dynamic program or stochastic control problem, is a model for sequential decision making when outcomes are uncertain. [ 1 ] Originating from operations research in the 1950s, [ 2 ] [ 3 ] MDPs have since gained recognition in a variety of fields, including ecology , economics , healthcare ...
It defines the purpose of agile leadership as enabling people and teams to meet performance expectations and customer demands in business/task environments that are charged with VUCA (volatility, uncertainty, complexity, and ambiguity) and where process knowledge (knowing how to produce desired results) is weak.
Image source: The Motley Fool. Warner Music Group (NASDAQ: WMG) Q1 2025 Earnings Call Feb 06, 2025, 8:30 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
Uncertainty in the VUCA framework occurs when the availability or predictability of information in events is unknown. Uncertainty often occurs in volatile environments consisting of complex unanticipated interactions. Uncertainty may occur with the intention to imply causation or correlation between the events of a social perceiver and a target ...