Final answer:
The approach for decision-making that combines gaining additional expertise and team buy-in with retaining final authority is a blend of democratic and authoritarian leadership styles.
Step-by-step explanation:
The type of decision-making that would be used to gain additional expertise and team buy-in, while retaining the final decision, aligns with a democratic leadership style with an element of authoritarian control. A democratic leader encourages team participation in decision-making and works to build consensus among the group. However, the final decision-making authority rests with the leader, allowing them to ultimately decide. This approach is vital for balancing efficient decision-making with the benefits of team collaboration, ensuring a variety of perspectives are considered while still moving forward in a timely manner.
While democratic leadership reduces conformity costs by allowing team input, it also introduces transaction costs due to the time and effort needed to consult with team members and reach a consensus. Delegating to a single person might be more efficient, but could lead to higher conformity costs if team buy-in is not achieved. The combination of democratic processes with the final say being authoritative allows for an efficient yet collaborative decision-making environment, mitigating some of the extremes of both purely democratic or purely authoritarian approaches.