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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According to Environmental theories of leadership, a leader needs to deal effectively with environmental complexities and lead in a certain style as a result of environmental responses. Environmental influenced leadership demand leaders to learn how to adjust environmental factors. Leaders also have the responsibility of creating the right kind of environment for their followers by focusing on environmental factors and pressures.
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Leader-Participation Model provides a set of rules to determine the form and amount of participative decision making. It helps identifies different ways a decision can be made based on the degree of follower participation. It proposes a method for leaders to involve all members of the organization work together to make decisions.
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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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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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Michigan Leadership Studies led to behavioral Leadership Theory as a result of a leadership study conducted at the University of Michigan. Michigan studies identified three important behaviors of leadership called task-oriented behavior, relationship-oriented behavior, and participative leadership. Two leadership styles associated with studies are employee orientation and production orientation.
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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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Behavioral Theories of Leadership
Behavioral Theory of leadership is a big leap from Trait Theory, as it was developed scientifically by conducting behaviour focused studies. The theory emphasizes that leadership capability can be learned, rather than being inherent. This theory is based on the principle that a leader's behaviors can be conditioned in a manner that one can have a specific response to specific stimuli.
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Theory Z also called the "Japanese Management" style is a leadership theory of human motivation focused on organizational behavior, communication, and development. It assumes that employees want to enter into long term partnerships with their employers and peers. Offering stable jobs with an associated focus on the well-being of employees results in increased employee loyalty to the company.
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The ten most important qualities that define a good leader are self-awareness, interpersonal and communication skills, ethical values, organizational consciousness, self-confidence, adaptability and flexibility, imagination and creativity, focus & result-orientation, continuous self-development and accountability and ownership for his actions. These ten qualities of leadership every good leader should possess to a certain extent and must continually strive to develop them.
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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.
