In a fast-changing world, the only constant factor is the influence of leadership. Leadership is applicable in every sphere of people’s lives, from politics and the workplace to households and a close circle of people. However, most of the time, leadership is discussed in terms of companies since the lack of such a feature within the corporate world can lead to the collapse of the whole business. As a result, one must not only manage but lead, where theories of leadership are especially applicable.
Among the most effective theories are the Path-Goal theory, Leader-Member Exchange theory, and Transformational Leadership. The Path-Goal theory, which initially appeared in the literature in the 1970s, claims that leaders can enhance employee productivity through motivation and work tasks (Northouse, 2021). It is believed that a manager’s role is to assist employees in selecting the best options for achieving their own and the company’s objectives. Furthermore, according to the Leader-Member Exchange theory, leaders and employees form distinctive bonds based on their social interactions, and the degree of these interactions within a workplace can affect employee performance (Northouse, 2021). Lastly, a manager who promotes Transformational Leadership encourages, inspires, and motivates staff to innovate and bring about change that will help the business expand and influence its future success (Northouse, 2021). In this sense, the aforementioned theories might be applicable to situations depending on the circumstances.
For example, if a financial organization has lost a considerable number of employees due to unethical behavior, the new approach will be to change the culture within the workplace. In this situation, the Leader-Member Exchange theory might be applied. The goal of this theory implementation is to lead by example and indicate what behavior is ethical and what unethical behaviors will not be tolerated. Furthermore, other relationships between coworkers can influence the workplace culture by establishing trust and eliminating negative approaches.
Hence, leadership theories are an integral part of every sphere, indicating the proper approaches to employees and other followers. Among such theories are the Path-Goal theory, Leader-Member Exchange theory, and Transformational Leadership, which teach the fundamentals of work motivation, proper communication, and leadership conduct. In this sense, if organizations desire to change the workplace culture, they can incorporate a Leader-Member Exchange theory that allows them to establish new values and proper communication.
Reference
Northouse, P. G. (2021). Leadership: Theory and Practice. SAGE Publications.