Key elements
The Expectancy Theory of Motivation explains the behavioral process of why individuals choose one behavioral option over another. It also explains how they make decisions to achieve the end they value. Vroom introduces three variables within the expectancy theory which are valence , expectancy and instrumentality. The three elements are important behind choosing one element over another because they are clearly defined: effort-performance expectancy, performance-outcome expectancy.
Three components of Expectancy theory: Expectancy, Instrumentality, and Valence
1. Expectancy: Effort → Performance
2. Instrumentality: Performance → Outcome
3. Valence-

Expectancy: Effort → Performance

Expectancy is the belief that one's effort will result in attainment of desired performance goals. Usually based on an individual's past experience, self-confidence (self efficacy), and the perceived difficulty of the performance standard or goal. Factors associated with the individual's Expectancy perception are self efficacy, goal difficulty, and control. Self efficacy is the person’s belief about their ability to successfully perform a particular behavior. Goal difficulty happens when goals are set too high or performance expectations that are made too difficult are most likely to lead to low expectancy perceptions. Control is one's perceived control over performance. In order for expectancy to be high, individuals must believe that they have some degree of control over the expected outcome.

Instrumentality: Performance → Outcome

Instrumentality is the belief that a person will receive a reward if the performance expectation is met. This reward may come in the form of a pay increase, promotion, recognition or sense of accomplishment. Instrumentality is low when the reward is the same for all performances given.
Factors associated with the individual's