Final answer:
The laissez-faire leadership style is marked by low levels of both initiating structure and consideration, characterized by a hands-off approach to leadership.
Step-by-step explanation:
According to the life cycle theory of leadership, the leadership style that encompasses low levels of both initiating structure and consideration is the laissez-faire leadership style. Laissez-faire leaders are characterized by their hands-off approach, allowing group members to self-manage and make their own decisions.
This is in contrast to democratic leaders who encourage group participation in decision-making and authoritarian leaders who issue orders and assign tasks with a strong focus on meeting goals. While laissez-faire leadership can be effective with highly motivated and mature groups, it may also lead to a lack of progress and group dissolution if clear goals and guidelines are absent.