In: Economics
There are mainly 5 types of Leadership Theories which are Trait Theory, Contingency Theory, Great Man theory, Situational Theory and Behavioral Theory.
To Illustrate how to be an effective leader, we use one leadership theory- Trait Theory
The Trait Theory was founded on the characteristics of different types of leaders like the successful as well as the unsuccessful ones. The theory is used to predict the leadership which is effective. The identified characteristics are compared with that of potential leaders to determine their probability of leading efficiently and effectively.The Scholars who research the trait theory try to identify leadership characteristics from several perspectives. They focus on many attributes such as looks, weight, height and demographics such as age, education, and family background. Moreover they focus on the intelligence, which follows decisiveness, judgment, and knowledge.
As per the trait Theory, effective leadership depends on the characteristics that one possesses. Leaders should focus on their strengths instead of weaknesses. The strengths differ from leader to leader and include:
1. A strong determination is crucial to recover from difficult situations and seeing leaders through hard times. A strong-willed leader is able to find the strength and continues until he overcomes all challenges no matter how challenging the situation is.
2. The leaders also possess a decisive nature which is their strength . Decisiveness literally means that when others are confused, a leader can calmly assess the situation and choose one action to make concrete decision. But there are chances when they are not always able to make the right decisions and they should always be willing to learn from their mistakes.