Final answer:
The statement is True; Theory Z emphasizes long-term employment and seeks to foster a stable and productive workforce by prioritizing employee needs and well-being.
Step-by-step explanation:
The statement that the Theory Z approach emphasizes long-term employment is True. Theory Z is an approach to management that advocates for long-term employment, stable career paths, and a focus on employee well-being, which contrasts with the Theory X and Theory Y approaches introduced by Douglas McGregor. Theory X assumes that employees are naturally unmotivated and dislike work, requiring control and coercion by management. Theory Y, on the other hand, posits that employees are self-motivated and thrive on responsibility, and if management creates the right conditions, employees will seek to give their best at work.
These management theories have significant implications for practices such as telecommuting and the abilities for employees to set their own hours, contributing to a balance between work and family life. Theory Y, in particular, aligns with aspects like team collaboration, participative decision-making, and values such as the ability for employees to stop a production line at Toyota if they detect defects—illustrating the importance of employee input on matters of efficiency and safety.
In contrast, the transactional leadership style is more closely related to Theory X with its use of rewards and punishments to achieve organizational goals. Transformational leadership, which fosters change and is characterized by elements of inspiration and intellectual stimulation, aligns more closely with the ideals of Theory Y.