Final answer:
Hollander's approach to leadership is the participative approach, which promotes team involvement in decision-making and can lead to greater team satisfaction.
Step-by-step explanation:
Hollander's approach to leadership is best described as the participative approach. This style differs from charismatic and transformational leadership, which tend to be more visionary and inspirational, and from transactional leadership, which is more reward and punishment oriented. The participative approach of leadership emphasizes the involvement and contribution of team members in the decision-making process, which can lead to increased investment in outcomes and higher satisfaction among group members.