Transactional Theory of Leadership
Transactional leadership theory is based on the concept of rewards and punishments. The transactional management approach assumes that the desires of the leader and follower are different and leaders give followers something in exchange for getting something they want. Transactional leaders expect followers to be compliant and focuses on structure, instruction, monitoring, organization, or performance to get tasks completed on time.
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Management theories are the recommended management strategies that enable us to better understand and approach management. Many management frameworks and guidelines were developed during the last four decades.
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There are four major factors in leadership called Leader, Follower, Communication, and Situation. The success of the leader is dependent on how the leader is effectively able to communicate and motivate followers to perform desired tasks using the appropriate leadership style best suited for the given situation. Interdependencies and dynamics of these four factors of leadership must be considered by a leader to be effective.
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Contingency Theories of Leadership
Contingency theories of leadership focus on both the leader's persona as well as the situation/environment in which that leader operates. These theories consider the context of leadership which means whether or not the leadership style suits a particular situation and states that a leader can be effective in one circumstance and a failure in another one. A leader will be most effective when he applies the right leadership style to a given situation and environment around him. Contingent leaders are flexible and adaptable.
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Contingency Theories in Action
Contingency theory suggests matching the best leader to a specific situation based on situational factors and the leadership style. The practical application of theory can be done in various ways. The workplace example is to determine the best candidate for a given set of requirements using the LPC score. Applying the model to determine a leader's ability to adapt in the scenario of a new project etc..
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The group and exchange theories of leadership are derived from social psychology. These have their roots in the exchange theory. Leaders from different kinds of relationships with various groups of subordinates. Group theories describe how leaders need to maintain their position in group dynamics.
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The style approach emphasizes that one style of leadership behaviour cannot be effective in all situations. Earlier theories treated leadership exclusively as a personality trait and behavior approach has widened the scope by including the behaviors of leaders and what they do in various situations. Explore how you can benefit from the concepts to understand your own behaviors and what are some of the leadership tools based on the style approach to leadership.
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In this study of power, Raven identified five bases of power as coercive, reward, legitimate, referent, and expert. The 5 Types of Power can help you decide when it is appropriate to use a particular type of power in important situations. Leadership involves authority and it is very important for leaders to understand what type of power they're using.
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David Kolb produced this popular model for learning in 1984. The model suggests four stages of learning which most learners go through in order to learn effectively. Leaming is itself a process of change. Something is added to our perception and prepared us for the next impression, which will change our understanding yet more, however minutely. The Kolb contribution is a significant one because it practically equates change and learning.
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Blake and Mouton Managerial Grid is a style leadership model that identified five manager styles based on two dimensions viz concern for people and the concern for production. Managerial Grid uses concern for production style which is largely based on McGregor's Theory X.
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Early studies on leadership were done at Ohio State University using the Leader Behavior Description Questionnaire to identify the leader's observable behaviors. Ohio State study on leadership found two behavioral characteristics of leadership - people-oriented (consideration) and task-oriented (initiating structure) leadership style.
