This report explores the principles and practices of leadership and management, focusing on the critical analysis of different leadership theories and their application in real-world scenarios. It examines the contingency leadership theory, transformational leadership theory, behavioral leadership theory, and the Great Man theory, comparing their strengths and weaknesses. The report also identifies and critically evaluates the most important leadership skills and competencies required for effective leadership in organizations, including social intelligence, decision-making, and area-related expertise. The analysis is based on a case study of PepsiCo's CSI department, highlighting the need for leaders to adapt their approach to the specific context and organizational needs.