Compare and contrast contingency theory, path-goal theory, and leader-member exchange theory. Explain the strengths and weaknesses of each. Are the differences related to perspective? Provide real-world examples, showing in what kind of situation each theory might be most relevant and Compare and contrast contingency theory, path-goal theory, and leader-member exchange theory. Explain the strengths and weaknesses of each. Are the differences related to perspective? Provide real-world examples, showing in what kind of situation each theory might be most relevant and impactful..