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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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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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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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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Charismatic leadership is a trait-based leadership theory where the leaders act as visionary driven by their convictions and motivate their followers to work towards common vision using their charm and persuasiveness. These charismatic leaders act as role models and exhibit extraordinary characteristics that inspire devotion and motivation in followers to persuade change. Leaders are able to cultivate a profound sense of trust with the group of followers.
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McClelland's Theory of Needs is a human motivation theory which states that an individual's specific needs are acquired over time through our culture and life experiences. As per the three needs theory, these acquired needs significantly influence the behavior of an individual. The three main driving motivators are the needs for achievement, affiliation, and power.
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McGregor's Theory X and Theory Y
McGregor created Theory X and Theory Y of human work motivation and explained two styles of management known as authoritarian (Theory X) and participative (Theory Y). Theory X management assumes most people will attempt to avoid work whereas Theory Y managers trust their people to take ownership of their work.
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Self-leadership is a normative model of self-influence by the use of several behavioral strategies to gain a comprehensive self-influence perspective about oneself. Self-leadership is developing an understanding of your capabilities and abilities to influence your own communication, emotions, and behaviors to lead and influence others. Self-leadership is about personal growth and developing foresight.
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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 Valence Model of Leadership
The valence model of emergent leadership is based on a group-development sequence. As per the valence model, the process of emergent leadership passes through three distinct stages; Orientation, Conflict, and Emergence. Group members willingly start following and obeying the leader who has passed the "emergence threshold."
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Leadership has been defined in different ways by different sets of scholars. In very simple terms leadership can be defined as the skill of a person to influence an individual or a group for achievement of a goal in a given situation. One can use different dimensions and perspectives to define leadership. Through the evolution of leadership thought, leadership has been defined in various ways discussed here.
