This report provides an in-depth analysis of leadership theories applicable to business operations. It begins with an introduction to the concept of leadership and its importance in organizational management. The main body critically discusses two prominent leadership theories: trait theory and contingency theory. Trait theory is examined for its focus on leader personality traits like intelligence and responsibility, and its assumptions about inherent leadership qualities. Contingency theory is then explored, highlighting its emphasis on situational factors influencing leadership effectiveness, including various models like the Fiedler and Path-Goal theories. The report concludes by summarizing the key takeaways and emphasizing the role of leadership theories in achieving organizational success. References to academic journals and books are also included to support the analysis.