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One of the goals of the SME Toolkit is that it aims to strengthen the Knowledge, Skills, Attitude and Abilities (KSAA) of SME owners and managers. In achieving this, there is a lot of learning to do.

Like one of my mentors put it, “You have to be current to be correct.” Currency of ideas and skills is therefore tied to the currency of knowledge and information. This was the view of the change management guru, Alvin Toffler, who once postulated that, “The illiterates of the 21st century are not those who cannot read or write but those who cannot learn, unlearn and relearn”. I believe that commitment to continuous learning is a desideratum for personal growth and development and is critical for the improvement of leadership quality anywhere whether within Fortune 500 companies or within SMEs.

Therefore, far from being theoretic, the leadership theories to be briefly examined here are done in such a way that they can be of utilitarian application for SME operations.

Different theories of leadership have been advanced to throw more light on who a leader is, what leaders possess as attributes and the nature and character of leadership. Interest in leadership increased during the early part of the twentieth century. Early leadership theories focused on what qualities distinguished between leaders and followers, while subsequent theories looked at

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