With the inner workings of major industries and companies getting more and more complicated, a lot of research has gone into finding the key ingredients of making the perfect leader.
Here's a brief look at the three major leadership theories that have become the norm of industry-level management. However, you can get business transformation program at https://virginianava.com/transform-your-business/ online.
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It is fair to say that transactional leadership theory is the oldest and the most commonly used leadership theory in most administrations.
It is grounded on the concept of transactions or agreements made between a worker and his or her employer. In the simplest of terms, transactional leadership theory is based on the age-old 'Carrot and Stick' notion.
The fundamental basics of Transformational Leadership constitute the following-
- The key assumption is that workers will eagerly follow a manager who motivates them.
- The forethought and desire of one man or woman can transform his or her co-workers and in unison, they can accomplish remarkable feats.
- Vigor and eagerness are the stimulants that get the work done.
- Cultivation of original ideas and the ability to express these ideas is crucial for workforce bonding.
- Challenges are something to look forward to as a team.
- The influence of innovative thinking and group motivation can be more effective than any other financial or materialistic enticement.