This is a question I get from time to time, and the TLDR is that it is a leadership style focused on supporting people and organizations through a service lens, such that everyone grows and achieves their fullest potential.
Transformative leadership thrives in environments that are people-positive and supportive of learning and development for staff. At the same time, the transformative element is applied at the organizational level, by creating a culture that is inclusive, respectful and transparent. It strives to bring continuous learning into strategy and implementation, by leading with curiosity and seeking to turn failures into opportunities.
The antithesis to transformative leadership would be command and control, which is a leadership style akin to cracking a whip, where people are driven with fear-based tactics. This is the kind of style that leads to toxic cultures, in which blaming and shaming are more common, and unhealthy competition encourages people to step on each other as they try to prove themselves.
With transformative leadership, the drivers revolve more around connection and trust, with collaborative effort and safe-to-fail experimentation being the impetus for innovation and impact. In short, it is the style to use if you value people over profit. Doing so will create an environment in which people feel more purpose and passion and they will pur that into their work for greater impact, and often greater profit, in the end.