Self-Fulfilling Prophecy (SFP) Leader Theory
Pygmalion theory of Leadership is a model of SFP at work involving supervisory expectancy based on the pygmalion effect. This effect is a type of self-fulfilling prophecy (SFP) in which raising leader's expectations regarding subordinate performance boosts the group's performance. Managers who are led to demand more from their team, lead the team to better performance. There is some evidence that the SFP effect does exists.
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Robert Katz identified three leadership skills called - technical skills, human skills, and conceptual skills as the basic personal skills essential for leadership. Leaders must possess these three skills that assist them in optimizing a leader's performance. Technical skills are related to the field, human skills are related to communicating with people and conceptual skills related to setting the vision.
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Certain generally accepted truths or principles of communication are important to consider when communicating with others. These principles hold true for all people in every culture. By understanding these principles, you will experience greater communication effectiveness. An effective communication system is one that achieved its objectives. Communication is effective where there are no barriers to communication.
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The Path-Goal theory defines the characteristics of followers and organizational context and the corresponding leadership style best suited to these factors. A leader should adapt to a behavior that is most relevant for a given employee and work environment mix to achieve a goal. The application of theory drives increased employees' motivation, empowerment, and satisfaction resulting in increased productivity.
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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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Investment Theory of Creativity
Sternberg in the year 2006, proposed the investment and confluence theory focused on understanding creativity. According to the investment theory, creativity requires a confluence of six distinct but interrelated resources known as intellectual abilities, knowledge, styles of thinking, personality, motivation, and environment. It emphasizes that creativity is not about one thing, but about a system of things.
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Normative leadership theories are built on moral principles and tell leaders how they ought to act. Victor Vroom formulated the normative model of leadership that specifically address leader behavior explicitly built on moral principles or norms. Normative leadership theories tell leaders how they should act to raise the moral performance inside the working group and manage their different responsibilities.
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Trait Theory of Leadership is based on the assumption that people are born with inherited traits and some traits are particularly suited to leadership. The theory aims to discover specific leadership & personality traits and characteristics proven to predict the likelihood of success or failure of a leader.
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Servant Leadership is a recent revolutionary theory of leadership that focuses on leaders achieving authority rather than power. A servant leader considers the needs of others and tries to serve the followers by becoming a servant first. Servant leadership is leading with a desire to better serve others.
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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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Substitutes for leadership theory is based on understanding the context within which leadership occurs. Different situational factors can enhance, neutralize, or substitute for leader behaviors like under certain circumstances, situational factors may substitute for leadership. These substitutes are of two types - substitutes and neutralizers. Substitutes take away from the leader's power and help group members increase their performance. Neutralizers only remove influence from the leader.
