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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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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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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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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Symbolic Interaction and Social Change
George Herbert Mead, an American philosopher, affiliated with the University of Chicago founded the theory of symbolic interactionism. A major aspect of this is that people interact by symbols both verbal and non-verbal signals and every interaction makes a contribution to the mental make-up of the mind thus every interaction with someone, changes you and you go away a different person signifying that humans and change go together.
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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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Authentic leadership is a new approach to leadership in which leaders are genuine, self-aware, transparent, build honest relationships, and work on an ethical foundation. Authenticity is one of the core values of leadership. Authentic leaders have truthful self-concepts and they inspire by promoting openness by acting in a real, genuine, and sincere way. Authenticity requires self-awareness and the ability to act in accordance with one's true self.
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Strategic Contingencies Theory is a theory of intra-organizational power. The power of a subunit or individual depends on a few contingencies and that the more contingencies are controlled by a subunit, the greater is its power. The theory focuses on tasks that need to be done in the form of problems to be solved, thus de-emphasizing personality.
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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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Role theory is a concept in sociology and the role theory of leadership borrows these concepts to explain how people adapt to specific organizational and leadership roles. How the leaders and followers in an organizational context define their own roles, define the roles of others, how people act in their roles and how people expect people to act in their roles within the organization.
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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.
