Entrepreneurial Leadership

Entrepreneurial Leadership

Introduction

The purpose of this paper is to discuss the concept of entrepreneurial leadership I will start by discussing the common elements of entrepreneurial leadership and the leadership style of entrepreneurship Lastly I will discuss how new entrepreneurs use resources and tools available through Small Business Administration and SCORE By definition entrepreneurial leadership is seen as leadership that creates visionary scenarios that are used to assemble and mobilize a supporting cast of participants who become committed by the vision to the discovery of exploitation of strategic value creation Entrepreneurial leadership requires three key dimensions 1 being inclined to take more businessrelated risks 2 favoring change and innovation to obtain competitive advantage and 3 competing aggressively with other firms Vipin Gupta 2004

Common Elements Discuss the common elements described in the theoriesphilosophies of Case Kouzes and Drucker including how their principlesstrategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in todays Dynamic Markets

Leadership Style Discuss your leadership style or the style you aspire to be and how it compares to transactional transformation visionary charismatic principled and entrepreneurial leadership

According the article Understanding Entrepreneurial Leadership in Todays Dynamic Markets the new definition of entrepreneurial leadership is one of an enterprising transformational leader who operates in a dynamic market that offers lucrative opportunities Transformational leader dimensions include clarity communication consistency caring creating opportunities selfconfidence power need and its use and vision Understanding Entrepreneurial Leadership Entrepreneurial leaders are also believe that have helped develop and sustain the elements of organizational culture which includes adaption how people deal with external forces and the need to change goal achievement the nature of organizational goals The strengths of entrepreneurial leaders are that they excel in leading firms that compete on the edge have ability for learning and knowledge generation can handle sudden change and understand their resources and capabilities Understanding Entrepreneurial Leadership

The style of leadership that I would describe myself as having is between participative and delegative leadership I consider myself to be a participative leader meaning that I accept input from other group members when making decisions and solving problems but I would retain the final say when choices are made In my opinion group members would be more encouraged and motivated by this style of leadership Also being a participative leader leads to more effective and accurate decisions since no leader can be an expert in all areas Input from group members with specialized knowledge and expertise creates a more complete basis for decisionmaking

On the other hand delegative leaders allow group members to make decisions which is a best practice tool in situations where the leader needs to rely on qualified employees The leaders cannot be an expert in all situations therefore it is important to delegate certain tasks to knowledgeable and trustworthy employees

These types of leadership fall under the category of transformational leaders conforming to network and coworkers in the best fashion in order to benefit the organization while still sharing ideas Transactional leaders believe that people are motivated by reward or punishment These type of leaders give clear instructions to followers about what their expectations are and are rewarded when expectations are meet and punished when failure of expectations occur Transitional Leadership Charismatic leaders are seen more as brave risk takers Visionary leaders look at the bigger picture to its entirety and Principled Leaders are revolves around morality and ethical standards Their policies include the rights

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