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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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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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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Power is the ability to exercise influence or control over others. Leadership involves authority and it is very important for leaders to understand what type of power they're using. The 5 Types of Power in Leadership are Coercive power, expert power, legitimate power, referent power, and reward power. Authority is the right to command and extract obedience from others. It comes from the organization and it allows the leader to use power.
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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.
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Trait theories of leadership identify the specific personality traits that distinguish leaders from non-leaders. The trait model of leadership is based on the traits or characteristics of leaders that make them successful in their leading role. These theories use heritable attributes to predict leadership effectiveness.
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Leadership Traits – A great List
What are the qualities and characteristics of a good leader? Great leaders possess core leadership traits and skills. The list includes the most important leadership qualities and skills to look for in a great leader. These are must-have traits of a powerful and successful leader, the qualities a leader possess to be great.
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Leadership traits refer to personal qualities that define effective leaders. Here are the major leadership qualities that can make someone a good leader. Five key traits that are common in leaders can be learned and sharpened with time.
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The open systems model of leadership acknowledges the influence of the environment on organizations. An open system regularly exchanges feedback with its external environment. The environment also provides key resources that are necessary to sustain and lead to change and survival. Leadership in an open system should focus on influence, open communication, and patterns to control expanding the number of variables created by external dynamics.
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Functional leadership theory addresses specific leader behaviors that are expected to contribute most to the organizational effectiveness by focusing on how the leadership process occurs. The leader should ensure that all needs of the group get addressed.
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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.
