Online International Interdisciplinary Research Journal, {Bi-Monthly}, ISSN2249-9598, Volume-IV, July 2014 Special Issue www.oiirj.org ISSN 2249 - 9598 Page 167 A Study of Leadership Styles a Aarti Deveshwar, b Indu Aneja, a Assistant Professor, Department of Management Studies, DCRUST, Murthal, Sonipat, Haryana, India b Research scholar, Department of Management Studies, DCRUST, Murthal, Sonipat, Haryana, India Globalized World environment provides the opportunity to the organizations to interact with various nations across the national boundaries. These interactions arisesmany variations among the employees due to difference in values, traditions, beliefs, communication, culture and ethics. These problems shape as the biggest challenge in front of the corporative managers. Success of any organization depends on the Effective leadership style. An Effective and Efficient Leadership style is the best remedy to cope up these challenges. The paper focuses on the most popular Leadership style used by the international organizations in the current scenario. This quantitative studyis based on the primary data collection from the managers/ leaders of the MNCs by using the Multifactor Leadership Questionnaire MLQ-5x-short (Avolio and Bass 2004) to determine the Leadership styles- Transactional, Transformational and Lasseiz- Faire. The main objectives of the paper (1) Tostudy of the Leadership Style of managers in the NCR area of India (2) To determine the most favorable Leadership Style for the organizations. The study helps the managers to find the most effective Leadership Style for the organization KEYWORDS: Transnational Leadership, Transformation Leadership, Laissez Leadership Introduction Current Scenario of cooperate sector is growing fast due to Liberalization, privatization and Globalization which popularly known as LPG. More and more companies started business practicingacross the geographical boundaries like marketing, financing, assembling and manufacturing. Today numerous of companies move toward the mergers, acquisitions and joint- ventures for taking the advantage of the economical workforce, technology and the recourses among the nations. These interactions of the practices lead to the variation and difference of the language, traditions values culture and ethic at all platforms between customers, dealers, manufacturers, suppliers, distributors and companies. These kinds of issues are commonly found in the organization workplace. Leadership plays the important role to manage these issues among the employees and the customers. Effective Leadership practices maintain these differences among group and as well as organizational. So Global and Effective leadership is demanding more for smooth and successful running of the organization. Effective and Global leadership practices helps to maintain a cooperation and supportive behavior which leads to the healthy environment in the organization. Culture, traditions, values and ethics of the various nations affect leadership styles and practices so more preferable attributes and styles must be investigate to face these challenges. These variations among the nations are very rigid Abstract