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There are several existing theories of leadership:



1.    Trait theory – defines leadership based on certain personality traits which are generally suited for all leaders, such as decisiveness, persistence, high level of self-confidence and assertiveness, among others.
2.    Behavioral theory – This theory presupposes that leadership is a learned behavior, and that leaders are defined according to certain types of behavior they exhibit.
3.    Participative theory – the opposite of an autocratic leader, the participative leader involves other people to make common decisions.
4.    Situational theory – This theory assumes that there is no one style of leadership and that leadership behavior is based on the factors present in a situation, and usually take into consideration how followers behave.
5.    Transactional Theory – This theory states that leadership involves a transaction or negotiation of resources or position, and usually employs reward and punishment.
6.    Transformational theory – This theory involves a vision, which a leader uses to rally support form followers, and the role of the leader is in motivating other to support the vision and make it happen.

Three basic axioms of leadership:

1.    Leadership is situational – this means that a leader’s behavior and what is required of him will always be influenced by the situation.
2.    Leadership in non-hierarchical – the exercise of leadership is not based on one’s position in an organizational chart alone, but also dependent on other factors such as characteristics, skills and even connections
3.    Leadership is relational – Leaders and followers establish a relationship where their interest are mutually met.

Leader – Membership Exchange (LMX) Theory – states that leader’s effectiveness is measured by the quality of his relationship with his followers, and different types of relationship can evolve between leader and follower in a certain work situation.

Heroic Leadership – this type of leadership follows four principles that are integrated with one another and synergistically interacting to reinforce each principle:

1.    Self-awareness – knowing and understanding fully our strengths and challenges, our way of looking at things, and even our emotions and the set of values that we live by.
2.    Ingenuity – Flexibility and openness to new ideas are the hallmark of this kind of leadership. In the same manner, detachment from sources of pride and pleasure is also emphasized.
3.    Love – A healthy self-concept generates a healthy and positive attitude when dealing with other people.
Heroism – This type of leadership is about motivating and inspiring other people to reach for higher goals, for bigger and greater things

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