Exploratory and value-added innovation require different leadership styles and behaviors to succeed.[1] Value-added innovation (PwC, 2010) involves refining and revising an existing product or service and typically requires minimal risk taking (compared to exploratory innovation, which often involves taking a large risk); in this case, it is most appropriate for a leader for innovation to adopt a transactional form of leadership.[2][15] This is because a transactional leadership style does not use open leadership behaviors such as encouraging employees to experiment and take risks, but rather uses closed leadership behaviors that do not condone or reward risk-taking.