Leader–member exchange theory

The leader–member exchange (LMX) theory is a relationship-based approach to leadership that focuses on the two-way (dyadic) relationship between leaders and followers. 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 apprenticeships in leadership.

Source: Wikipedia — Leader–member exchange theory (CC BY-SA 4.0)