Leadership theories

 Transformational theory
 Transactional theory
 Charismatic leadership
 Goleman’s leadership theory
 Hersey & Blanchard’s situational leadership theory

Transformational theory -
The term "transformational leadership" refers to a leadership style that affects both individuals
and social systems. It promotes valuable and good change in followers in its ideal form, with the
eventual goal of growing followers into leaders. Transformational leadership, in its purest form,
improves followers' motivation, morale, and performance through a variety of techniques. These
include connecting a follower's sense of self to the organization's mission and collective identity;
inspiring followers by being a role model; challenging followers to take greater ownership of
their work; and understanding followers' strengths and weaknesses so the leader can assign tasks
that maximize their performance.

Transactional theory -
Max Weber initially described the transactional leadership style in 1947, followed by Bernard
Bass in 1981. Managers are the ones who use this style the most. It focuses on the control,
organization, and short-term planning processes that are fundamental to management. McCarthy
and de Gaulle are two well-known leaders who have used transactional techniques. Motivating
and directing followers through transactional leadership essentially requires appealing to their
own self-interest. Transactional leaders have official authority and responsibilities in the
organization, which gives them power. The basic purpose of the follower is to follow the leader's
directions. The style is also known as a'story-telling style.'

Charismatic leadership -
Charismatic management or leadership is a type of professional advice or management based on
excellent communication skills, persuasiveness, and perhaps even a little charm to assist them
gets the most out of everyone who works for them. They're enthusiastic, charismatic (hence the
charismatic term), and have strong convictions and a deep connection to the task they're doing,
which inspires others to have the same commitment. Because of their passionate commitment to
their profession, charismatic leaders tend to elicit powerful emotions from their followers and
teams. This promotes commitment, action, and great problem-solving abilities.
Transformational leadership is comparable to charismatic management and leadership. Managers
that use inspiring motivation and intellectual stimulation to encourage their people to perform
their best work are known as transformational leaders. The difference between the two
approaches is that charismatic leaders prefer to work inside the status quo to improve it rather
than forging a new route.