Final answer:
Transactional leadership is a style where leaders closely supervise but also explain decisions and ask for suggestions, balancing goal orientation and team input.
Step-by-step explanation:
The leadership style of closely supervising others while explaining decisions and asking for suggestions is termed transactional leadership. This style is characterized by a focus on supervision, organizational goals, and the maintenance of the organizational status quo through a system of rewards and punishments. The transactional leader often issues directives and sets parameters, but is also open to feedback and makes an effort to explain decisions to team members.