ENTREPRENEURIAL LEADERSHIP

Entrepreneurial Leadership

Entrepreneurial Leadership

Answer 1)

Hybrid theory/philosophy that combines the familiar elements found in the thinking of Case, Kouzes, and Drucker are:

Showing genuine interest in people, which normally involves recruiting of proper staff, directing, controlling and leading for individual's contribution towards success.

Living up to the leadership challenge; which means venturing into unexplored products or areas.

Developing a passion for success; which means being tremendously disciplined and forward looking?

Based on the abovementioned explanation, we can name the theory as “entrepreneurial dynamism.” According to experts, it is one of the abilities of the entrepreneurial leader to enthusiastically explore prospects in a rapidly changing economic environment. The article “understanding entrepreneurial leadership in today's dynamic markets” defines entrepreneurial leadership as the ability to identify prospects in a dynamic business market (Kouzes, 2007).

The entrepreneur sets up an organization, but the business model includes a degree of cost recovery through the sale of goods and services to a cross-section of partnering institutions, public and private, as well as to target population groups. However, to sustain the transformational activities in full and address the needs of clients, the entrepreneur must mobilize other sources of funds from the public and/or the philanthropic sectors. Those funds can be in the form of grants or loans.

Definition:

Entrepreneurship refers to the use of entrepreneurial methods, such as risk taking, innovation, and team building, to bring about positive social change, typically with extremely scarce resources.

Answer 2)

Transactional leadership, in concept, involves leader-follower exchanges necessary for achieving specific or routine performance mutually agreed on by leaders and followers. As the name implies, there is somewhat of a quid pro quo involved in this theory. Leaders often promise certain rewards or actions in exchange for something from their followers, usually completion of a task, high performance, or essentially whatever terms the leader and follower agree on.

Experts state ...