Custom «Entrepreneurial Leadership» Essay Paper
This report investigates entrepreneurial leadership as portrayed by Case, Kouzes, and Drucker in their arguments. It looks into the definition presented by Understanding Entrepreneurial Leadership in today’s Dynamic Markets and attempts to formulate a philosophy that incorporates it with other philosophers’ definition. It also shades light into the various types of organization that best suites a transactional, transformational, and authentic leader as well as which type of leader thrives in less. Finally, it portrays a series of possible practices that are necessary in order for such a leadership style to thrive in any aspect of business, whether large scale or small business enterprises.
This report shades a light it to the world business and examines entrepreneurial leadership as the most viable way of overseeing the corporate world (Kouzes, 2009). Employing the various arguments of philosophers and renowned business speakers, it is clear that for an entrepreneur to be regarded as being successful, they ought to demonstrate unique leadership entrepreneurial skills. For instance, according to Steve Case, former CEO of AOL, entrepreneurial leadership thrives best along ‘The three P’s’. This stands for people, passion, and perseverance. According to Case, these three concepts are vital in ensuring a successful business venture. Kouzes (2009), on the other hand, discusses and presents five practical examples of traits with which great leaders are associated.
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The key elements shared by Kouzes, Case, and Drucker portray that entrepreneurs exhibit a common trait of having clear visions for their business ventures, and the means by which they realize these dreams. By incorporating these arguments, we come up with a philosophy that aims at describing entrepreneurial leadership: It is the ability to identify opportunities, seize them, have and share a common vision as well as an organization’s aspiration, and possible means of attaining them collectively while adapting to the ever changing organizational environment.
Describe what type of organization a transactional, transformational, and authentic leader would thrive in the most. There are three main types of leadership styles found in entrepreneurial leadership: Transformational, transactional, and authentic leadership. It is clear that for one to employ any one particular form of leadership they ought to possess unique, personal and leadership styles. In addition, one has to position themselves in a particular environment whose situation and structure will allow them to thrive in.
Particular types of organizations deliver best with leadership designed for that type of organization. An organization’s culture and its structural composition ay promote a particular type of leadership over the other while another may provide a platform in is flexible enough for any type of leader to thrive in. From Cases point of argument, it is evident than an organization that provides the best atmosphere for the three types of individuals to exist in is one which employs the Three P’s philosophy.
In such an organization, the human person is the building block behind the success of the organization. For instance, an authentic leader relies on five main themes forming the foundation on which it is established. The five themes, hint to the importance of the human person. This shows that for an organization whose employees are regarded highly for their effortless contribution toward its success, an authentic leader fits in well. In an organization that upholds the view that people are paramount to its success, the above leaders will easily fit in and blend in well with its staff (Demmer, 2007).
A rapidly changing business environment reburies that leaders adopt an adaptive strategy as well as motivate their employees to be flexible in order to fit in the ever-changing environment. A transformational leader for instance needs to be in the forefront in taking a leading role in manipulating the environment and steer both structural and cultural change in their organization (Drucker, 2007). Vast changing business environment is the most observable trait in any organization, however, due to the nature of transactional leadership, it makes it hard for such a leader to thrive in a such an environment. A transactional leader is devoid of adaptability and flexibility.
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Evaluate the resources and tools available through the Small Business Administration and SCORE. The Small Business Administration and SCORE offer wide-ranging types of tools and resources to businesses. These tools and resources take the form of either financial resources, technical advice, consultant services, business planning, workshops, entrepreneurial mentoring and many more. Looking critically at these tools and resources, it is evident that they are much needed by both small and large-scale business owners. The advisory services provided by these two firms makes it possible for ethical and successful business ventures to mushroom across the nation. It goes without saying that these tools and resources
Furthermore, SCORE motivates the likes of women to take up entrepreneurial ventures and cultivates in a generation effective entrepreneurs. Through collaboration with the local communities SBA provides help to potential entrepreneurs all over the country. SBA’s leading programs for instance ensure that even the otherwise incapacitated potential entrepreneurs are empowered to venture in to business through loan grants and other benefiting financial arrangements made by SBA.
It is justified to argue that entreprenneurial mentoring is the most viable approach to a vast number of businesses. This is because a business’s success is highly dependent on the leadership. Therefore, the ability to mentor and nature effective entrepreneurial leaders ensures that the resource becomes a long lasting and a sustainable one. Unlike measures such as financial grants that still may not stand the test of time and the changing economic times, this approach stands out to be the most effective and a long-term measure.
Leadership best practices
Leaders have a vision
Leading by example
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The above list of the best leadership practices is based on their applicability in both small and large businesses. To start with, a leader must have a clear point of reference against which to measure progress and result. Having a vision gives the leader a target point and ensures that they stay on course in their quest to deliver in their leadership capacity. Secondly, while setting targets and creating a vision, leaders ought to be realistic to set practical and attainable goals and standards. Furthermore, for one to be considered a leader, they have to take a leading role and show their subordinates how things should be done. Communicating continually also forms the basis of a good leader. For employees to stay on the course they have to be communicated to and given feedback on their work so as not to be isolated. In addition, responsibility exhibited by a leader shows that they should be accountable to every decision and move made. The ability to have and keep focus is also paramount in ensuring that leaders and their organizations stay on course and avoid going out of the way and utilization of resources. Finally, all organizations are formed with the sole aim of achieving some goal. Therefore, results need to be measurable and every activity engaged in accounted for. A good leader, therefore, ought to be result-oriented and expect nothing less than what their targets.
In view of Case’s, Kouzes’s, and Drucker’s arguments, it suffices to conclude that entrepreneurial leadership is a day to day phenomenon in the corporate society and needs to be embraced by all the key players in order to realize the full potential of entrepreneurship and its endeavors. This type of leadership provides the basis for incorporating unique skills and employing outstanding traits and abilities that ensures that leaders are well suited to their roles. It is understood that not all organizations have a similar environment and need similar approaches but that different situations call for specific approaches and solutions.
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