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Synopsis Leadership has become very important in the competitive world of today. It is different from management, mainly in its future-orientation and creative approach. Different theories have been suggested to understand leadership. This volume reviews some new theories with practical implications in organisations. The role of crucibles in developing leaders has been explored. Transformational functions of leaders are examined with an emphasis on empowerment through decentralization. Interestingly, the more the leader gives up power, the more powerful the leader becomes. This concept of power has been explored in detail, making a clear distinction between coercive (de-powering) and persuasive (empowering) powers. Empowerment audit has been discussed in detail, and the process of auditing for empowerment has been spelled out.