Trait Theory:
The Trait theory of leadership assumes that an effective leader possesses some innate characteristics. These qualities include intelligence, initiative, self-assurance, courage, and decisiveness, among others. The crux of this theory is that any person without these qualities cannot be an effective leader. A major criticism of the theory is that it ignores the situation in which leadership is exercised.

Style Theory:
The Style theory of leadership concentrates on the behavior or style of the leader rather than his personal attributes. It focuses on how the leader manages his followers. The assumption underlying this theory is that employees will work harder for managers who employ a particular style than for those managers who use other styles.

Contingency Theory:
The Contingency theory of leadership takes the view that leadership effectiveness depends on a range of factors, particularly the task to be accomplished, the workgroup, and the position of the leader within the workgroup. Proponents of this theory believe that group performance depends on the manager adopting a style appropriate to the situation in which he finds himself.