ENTREPRENEURIAL LEADERSHIP

Entrepreneurial Leadership



Abstract

Entrepreneurship is when you undertake a business venture and bring forward an innovative business idea based on their business acumen. Entrepreneurship in the contemporary era includes social and political forms of entrepreneurial activities, as well. For a new business to be successful, it takes the ultimate dedication and unrelenting perseverance of its founders. Thus, these entrepreneurs go on to become entrepreneurial leaders.

Table of Contents

Abstractii

Introduction1

Discussion1

Ethical and Social Responsibilities of Business1

Profit Oriented Entrepreneurial Approach2

Founding Leaders2

Leadership Style2

Business Principles3

Social Responsibility Oriented Entrepreneurial Approach3

Founding Leaders3

Leadership Style4

Business Principles4

Useful SCORE Tools for Small Business Administration5

Conclusion6

The Best Approach6

References7

Entrepreneurial Leadership

Introduction

Leadership is yielding influence over others with the purpose of achieving a common goal. A business needs effective leaders in order to succeed. A leader who understands the challenges of the rapidly changing global environment can lead his company to success. The leadership style of an entrepreneur has an impact on the organizational development and performance (Fernald, et al., 2005).

With the world having changed into an entrepreneurial economy, more and more new business come up and become successful by focusing on an untapped market niche (Fl?istad, 1991). Entrepreneurship is encouraged for the purpose that it leads to economic development (Tarabishy, et al., 2005).

Discussion

Ethical and Social Responsibilities of Business

Entrepreneurial organizations have a different structure than the conventional organizations. Thus, they have an entirely different ethical climate. Entrepreneurships have a greater resource scarcity and face more threats in business environments (Jones & Crompton, 2009). Consequentially, a lot of new entrepreneurial ventures are profit maximization oriented. The lack of a strict formal structure emphasizes on the leader's abilities to take decisions that would result in business effectiveness (Darling & Beebe, 2007).

Thence, during the initial stages the entrepreneurs decide to keep their business model purely profit-oriented in order to survive. Driven by innovation and high risk-reward tradeoff, most entrepreneurs are characterized as autonomous, innovative, and aggressive leaders whose purpose is revenue generation and profit maximization (Neubaum, et al., 2004).

Profit Oriented Entrepreneurial Approach

Profit oriented entrepreneurship can lead to success in today's dynamic business market. This type of entrepreneurship is ventured upon for financial gains. However, that is not to say that these businesses are devoid of corporate social responsibility. Entrepreneurship based on profit-orientation creates an economic value as the prime concern of business entrepreneurship.

Founding Leaders

Steve Jobs embarked upon one of the most successful business ventures ever that is Apple Inc, which beat the all powerful Microsoft. His leadership ability is unequivocal. He took a simple idea and turned it into one of the most sought after line of modern products. He made this possible through his dynamic charismatic leadership. (Erve, 2004).

Leadership Style

He had a great motivational power, which he used to inspire his employees towards achievement of excellence. Jobs had a remarkable penchant for corporate development. He was a role model for his employees because of his passion for learning and development and relentless innovation.

Jobs established a business model where expansion and advancement was highly encouraged. He believed in growth and development of his employees as imperatives to driving business ...