This survey article is about leadership and personality, as it appears to be a renewed interest in this topic. Even when traditional research is re-examined and new research performed the most basic conclusion remains the same. Studies of how personality traits relate to leadership give inconsistent answers. Traditional and contemporary research shows that personality cannot explain leadership. Traits of leaders cannot explain organizational effectiveness. Leadership appears to have a minor impact on organizational effectiveness. The personality approach is less relevant to management. Management and leadership in formal organizations are not about possessing special traits. It is about acting.