Discuss the similarities and differences between transformational leadership and transactional leadership.
Discuss strategy implementation in regards to transformational and transactional roles.
Difference:- While transactional leadership focuses more on extrinsic incentive for the completion of job tasks, transformational leadership builds a vision and motivates followers to go above and beyond required requirements. Differences Between Transformational Leadership and Transactional Leadership Essay Paper
The institutional and structural frameworks that already exist are generally maintained by transactional change. Instead of reforming a connection within the current structure, transformative adjustments alter the system as a whole. Differentiating various kinds of change does not lessen their importance or significance.
Similarities:- Both strategies involve leaders and followers working together for a mutually beneficial aim; both strategies are motivational in nature; and both leadership philosophies have built-in objectives.
Transactional leaders operate in line with specified modes of operation and are more concerned with maintaining continuity in day-to-day operations, making sure that everything runs smoothly by putting systems and processes in place, and concentrating on achieving goals.
Such leaders can impose punitive measures, create a systematic framework, specify a course of action, develop and carry out policies, and encourage exceptional performance through systems of rewards and incentives.
A transactional leader is more concerned with ensuring that the tasks assigned are finished as soon as possible by fulfilling the quality benchmarks than with futuristic vision or plans for gaining market leadership.
It would be more accurate to argue that the true champions of change are the transformational leaders. They are the leaders who inspire or persuade teams to excel in their corporate performance.
Instead than focusing on completing routine organizational tasks and obligations, transformational leaders priorities the creation of cohesive teams and support a collaborative environment for reaching the next best level of performance.
More emphasis is being placed on team building, employee empowerment, goal alignment between individuals and organizations, and culture development to inspire people to embrace the better change. Differences Between Transformational Leadership and Transactional Leadership Essay Paper