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This leadership style can be seen as the absence of leadership, and is characterized by an attitude avoiding any responsibility. Decision-making is left to the employees themselves, and no rules are fixed. Laissez-faire is the least effective leadership style, when measured by the impact of the leader's opinion on the team.
The theory of planned behavior (TPB) is widely utilized in the field of household financial behavior research. This theory helps to understand and predict various financial decisions and behaviors, including investment choices, debt management, mortgage use, cash, saving, and credit management.
This leadership style has been associated with lower productivity than both autocratic and democratic styles of leadership and with lower group member satisfaction than democratic leadership. [9] Some researchers have suggested that laissez-faire leadership can actually be considered non-leadership or leadership avoidance. [18]
The democratic management style involves managers reaching decisions with the input of the employees but being responsible for making the final decision. [4] There are many variations of this style of management including consultative, participative, and collaborative styles. Employee ideas and contributions are encouraged, but not necessary.
The Three Levels of Leadership model attempts to combine the strengths of older leadership theories (i.e. traits, behavioral/styles, situational, functional) while addressing their limitations and, at the same time, offering a foundation for leaders wanting to apply the philosophies of servant leadership and "authentic leadership". [2]
The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way relationship between leaders and followers. [1]The latest version (2016) of leader–member exchange theory of leadership development explains the growth of vertical dyadic workplace influence and team performance in terms of selection and self-selection of informal ...
The research concluded that there is no single "best" style of leadership, and thus led to the creation of the situational leadership theory, which essentially argues that leaders should engage in a healthy dose of both task-oriented and relationship-oriented leadership fit for the situation, and the people being led.
Leadership style was another angle researchers took. Proponents of this approach did not believe the ability to lead was innate, rather it was a set of behaviors anyone could learn (Den Hartog & Koopman, 2001). In the mid-1970s, a great deal of research was dedicated to the contingency model and path-goal theory. [5]