1. Explain the key differences between leaders and managers with examples.

2. Managers are required to be efficient (getting the work done with minimal amount of effort, waste, or expense) and effective (quality of work). Based on your personal opinion and experience, what is more important to management? Can managers achieve both? Please explain and support your answer.

Expectancy theory is the idea that the effort exployees put into their work depends on (1) expectations about their own ability to perform, (2) expectations about likely rewards, and (3) the attractiveness of those rewards.

You are a project manager at a publishing company. How would you address a stituation involving an underperforming employee, using the expectancy theory?