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Leadership is the key to ensuring the desired efforts by different parties within a firm to achieve the goals and visions whereby the stakeholders are inspired and motivated for the achievement of individual goals as well as organisational goals. As the application of proper leadership theory can ensure the growth of a firm, the choice of leadership theory is often described as a complex decision to make. Considering the vision and mission of a firm, the leaders must choose to implement a leadership theory that can truly contribute to the organisational growth as well as employees’ professional development. Through innate qualities and hard work, leaders make a firm competitive in the industry. On the other hand, by showing flexibility; leaders transform their leadership style based on the opportunities and threats from the internal and external environment. In this paper, by focusing on a single approach different theories of leadership are assessed comprehensively. These theories of leadership are the benchmark for leaders to reinforce their control throughout the organisation. Leader-Member Exchange (LMX) theory of leadership is critically assessed in this paper to comprehend the development and implication of the theory in organisational framework

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