Theories of leadership are to be measured for their true potential against situational commitments. All these theories are not equally sensitive or responsive towards any emerging crisis. Based upon different leaders' experiences and their ways of giving leading solutions, a number of leadership theories have come up over time to suit everybody's demand and need. Though you may find existence of numerous leadership theories of different versions around the world, but widely accepted and standardized major theories of leadership are primarily eight in number, which include:
- Great Man Theory. The Great Man theory believes that leadership qualities are inherent. It means, successful leaders are born and not made. The theory depicts celebrated leaders as heroic, and ordained to become an able leader at appropriate time.
- Trait Theory. Great Man theory has greatly influenced the Trait theory, which assumes that great leaders are always inherited with certain destined qualities and traits. If you enter inside the theory, you will be able to identify distinguished behavioral characteristics and personalities that leaders do possess. The theory has limitation in explaining the fact that in spite of possessing particular traits people often do not become a leader.
- Behavioral Theories. There exist two principal Behavioral theories: Role Theory, and the Managerial Grid. Core theme of these theories tells that any people can be trained to become leader; they are not born as assumed under the assumptions of Great Man and Trait theories. Actions of the leaders get higher preferences in these theories than their mental states.
- Participative Leadership. Lewin's leadership styles and Likert's leadership styles fall under the category of Participative leadership theories, which postulate that an ideal leadership methodology should consider all inputs taken from the participants before reaching to a decisive conclusion. Under this type of leadership, team-members are allowed to involve in the decision-making process subject to final approval of the leader.
- Situational Theories. Situational variables that decide the best course of action to be followed in a given leadership situation form vital elements of the Situational leadership theories. Hersey and Blanchard's Situational Leadership, Vroom and Yetton's Normative Model, and House's Path-Goal Theory of Leadership are the main theories that fall under this category of leadership theories.
- Contingency Theories. Fiedler's Least Preferred Co-worker (LPC) Theory, Cognitive Resource Theory, and Strategic Contingencies Theory constitute main elements of the Contingency theories of leadership. These theories give ways of finding out particular variable to determine which type of leadership style should be implemented in a given managerial situation. According to these theories, leadership style to be followed must be judged depending upon the situation. The leadership style alone cannot bring the desired success; it must suitably be supplemented with other requisite variables such as deserving qualities of the followers, facets of the circumstances, etc. in order to achieve the expected result.
- Transactional Leadership or Management Theories. These are ideal in managerial practices, where employees are rewarded or punished based upon their working performances. Leader-Member Exchange (LMX) theory is the most prominent theory under the Transactional Leadership theories. Supervision and group performance in an organization are considered as highly effective mechanism in Management theories.
- Transformational Leadership or Relationship Theories. Three major theories of Transformational Leadership are Bass' Transformational Leadership Theory, Burns' Transformational Leadership Theory, and Kouzes and Posner's Leadership Participation Inventory Theory. All of these theories highlight the relations that come into existence between leaders and their followers. Leaders believe on the assumptions of these theories motivate their team-members with their high ethical and moral standards.
Leadership is a quality that everyone loves to own. Knowing all the theories of leadership extensively can empower you with enhanced leadership qualities to boost your managerial skills. All older leadership theories try to explain difference of qualities that primarily exist between a leader and his or her followers; but the modern theories have shifted perspective towards the domain of leadership. Together with explaining leadership qualities, contemporary leadership theories also include extended variables like situational factors, skill level, etc. while putting their views on emerging leadership requirements.
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