Final answer:
Transactional leadership is the leadership style where leaders and followers engage in an exchange relationship to meet their needs, often via a system of rewards and punishments.
Step-by-step explanation:
According to Burns, transactional leadership occurs when leaders and followers are in some type of exchange relationship to get needs met. Transactional leadership is characterized by leaders who focus on supervision and achieving organizational goals through a system of rewards and punishments. This leadership style is concerned with maintaining the status quo, contrasting with transformational leadership, which involves leaders who are charismatic, inspirational, intellectually stimulating, and considerate, and seek to change the organization.This style of leadership maintains the status quo and is characterized by leaders who act as managers.