Formal leadership theories have been studied for centuries and include many different approaches to understanding how leaders can motivate and inspire their followers. The most commonly studied formal leadership theories are trait theory, transformational leadership, situational leadership, and contingency theory. Each of these theories provides valuable insight into the various types of behaviors that effective leaders possess and use to influence those around them.

Trait theory suggests that certain characteristics or personality traits tend to be more prominent in successful leaders than in unsuccessful ones. These traits include intelligence, confidence, drive, determination and a strong sense of responsibility. Trait theorists believe that when people possess these characteristics they are more likely to be perceived as effective by others due to their increased ability to set goals, make decisions and take initiative. While this approach may provide organizations with some useful insights into what makes a good leader, it is also important to note that it does not account for all other aspects of an individual’s character which could affect their effectiveness as a leader.