Identify and Describe Fiedler's Contingency Theory

question 135

Essay

Identify and describe Fiedler's contingency theory. Explain how this approach might be particularly valuable to an experienced manager in selecting among several job offers for managerial positions in different organizational situations.

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Definitions:

Oil Refinery

An industrial process plant where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, and heating oils.

Licensing

A business arrangement in which one company allows another to use its trademark, patent, software, or other intellectual property for a fee or royalty.

Contractual Agreement

A legally binding agreement between two or more parties with mutually agreed-upon terms and conditions.

Royalty

A payment made to the owner of certain types of rights, such as patents or copyrights, for the use of their property by others.