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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The Hersey and Blanchard Situational Theory model suggests that a leader must adapt his leadership style based on task and relationship behaviors appropriate to the situation. Leadership style is dependent on the maturity level and abilities of followers. Under this model, successful leadership is both task-relevant and relationship-relevant.
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Life cycle theory of Leadership
Situational Leadership Theory was first introduced in 1969 as the life cycle theory of leadership. This theory suggests that type of leadership style appropriate in a given situation depends on the maturity of the follower. As per life cycle theory, leader need to match the leadership style according to the situation and leader behavior varies as the group matures.
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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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Transactional Analysis also is known as the theory of human personality was proposed by Eric Berne in the 1950s. This theory of transactional leadership defines three different ego states in a person who engages in transactions with another person's ego states. These three ego states refer to major parts of an individual's personality and reflect an entire system of thought, feeling, and behavior.
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The Leader-Member Exchange Theory (LMX), also called the Vertical Dyad Linkage Theory is a relationship-based approach that focuses on the two-way (dyadic) relationship to get the best from all team members. How leaders maintain their position in groups and develop an exchange with each of their subordinates. How leaders and members develop relationships that can contribute to growth or hinder development.
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Idiosyncrasy Credit Model of Leadership builds upon the awareness that when the emergent leader meets the team's expectations, idiosyncrasy credits are awarded. These credits depend on how the leader fulfilled follower's expectations and what is the impact of the leader's decisions on the follower. When the balance of credits shifts, another leader will emerge.
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The psychodynamic approach to leadership has its roots in the work done by Sigmund Freud. These involved psychological theories of personality development and explaining leadership using psychoanalytic concepts. It tries to define a person is in terms of personality traits. Personality structured into three parts (i.e., tripartite) - the id, ego, and superego.
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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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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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There are four characteristics of leadership that help us to understand the character of leadership as a concept. 1. Leadership is a process, 2. Leadership involves influence, 3. Leadership always occurs in a group context and 4. Leadership involves goal attainment. These are the four components that make up the character of the 'leadership' term and help us to define the leadership concept. All of these components of leadership have common characteristics.
