Do you agree with the suggestion that being familiar with the various theories of leadership would help to improve modern management?

Would being familiar with leadership theories be helpful to improve modern management? I believe it will, because; there has been a view of modern management, which states that:

As the society and the economy develop and as managers are promoted from junior to middle and senior levels, the requirement to be flexible, creative, innovative and able to absorb and communicate new ideas becomes of increasing importance.

(Tim Hannagan 2002, p.7)

Leadership theories have been able to provide managers with various ways in which they can carry out their responsibilities, such as motivating change and inspiring and influencing others. They have been able to provide assistance to the improvement of modern management, and the eventual success of an organization.

Some of the various theories of leadership that have been developed and which can provide a basis for the development of an organization are:

1. Transactional/Transformational

2. Situational Theory

3. Theory X and Theory Y

English: Herzberg's Two Factor Theory

A graphical representation of the managerial grid ...

Low End Theory

4. Contingency Theory

Transactional/Transformational

Transactional

This has built upon reciprocity, where the relationship between the leader and followers develops from the exchange of some form of rewards, such as pay, performance ratings and praise. Clarity of goals and objectives, organizing tasks and activities, and organizational rewards and punishment are important and also emphasized. This type of leadership requires skills, such as the ability to obtain results, problem solving, to plan, organize and work within structures and boundaries.

Transformational

By contrast this type of leadership is concerned with engaging the hearts and minds of others. It helps all parties achieve greater motivation, satisfaction and a greater sense of achievement. The skills required include establishing a long-term vision, empowering people to control themselves, coaching and developing others and challenging the culture to change. The transformational leader develops power through understanding and trust, which is opposite to transactional leadership, which...