...Successful leadership – how would you know? Boardrooms and business school classrooms are equally preoccupied with leadership, and success is often assumed to be about profit or Total Shareholder Return. It’s neither. For leaders wanting to measure their own success, for those who appoint leaders to know what they are aiming at and for outsiders assessing the quality of leadership, Andrew Likierman shows how to do it. Thinking W as Julius Caesar a successful leader? What about Ghenghis Khan? Simon Bolivar? Or Napoleon? Because we tend to think of these as military leaders, the answers look pretty straightforward. Each achieved major military successes. But then Napoleon was ultimately defeated – does that make him a failure? After all, he won a lot of battles before Waterloo, and his sweeping political and legal reforms have been the basis of French administrative life for nearly 200 years. Now let’s move to the politicians. How do you feel about describing Bill Clinton as a successful leader? George W. Bush? Tony Blair? Vladimir Putin? This is altogether more difficult ground. Some of you will have already decided; those of you who have not made up your minds could argue that it is too early to say. The historic verdict on Bush and Blair will probably depend on what happens to Iraq over the next 20 years. Those better informed about Russia than I am can make up their own minds about Putin. Moving next to business territory, with a few exceptions – say Bill Gates, Herb...
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...Assignment #1: Entrepreneurial Leadership Karla Canas BUS 508 – Contemporary Business July 17, 2011 Create a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker. In your philosophy, be sure to include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Entrepreneurial leadership is the common element found in the thinking of Case, Kouzes, and Drucker. All of their strategies to become a successful leader are very similar. They all emphasize the importance of being risk takers, being persistent, being creative but most of all to recognize the people around you for their contribution to your success. According to Steve Case if you have the three P’s; people, passion, and perseverance together in the right balance almost anything is possible. The key to any entrepreneurs’ success is being passionate about what they do, surround yourself with the right people, and always try to persevere. Case firmly believes that entrepreneurship is important in “terms of underlying economic future of our country.” Entrepreneurs need to take the necessary risks in starting a new business because that will make a significance improvement to today’s economy. James Kouzes gives us five basic points that leaders must possess in order to be successful. In his book, The Leadership Challenge he stresses the importance of modeling the way in order to obtain...
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...the right values and guidelines. We will discuss the principles and strategies of three successful entrepreneurs and their journey towards leadership. How are they alike and how will their views on entrepreneurial leadership influence future leaders? Case believes that the road to success is based in what he calls the Three P’s: People, Passion and Perseverance. Case believes to gain success one must engage in the right people who also have a desire to successful and change the world. Loving your job is one of the key points he discusses. If enjoyment is missing from your chosen profession, you are no good to yourself or those around you. Gaining success sometimes involves taking a risk. Failure may be inevitable, but at least the effort was made. Be patient and stay the course, success will follow (Case, 2010). Kouzes’ belief is that your position or job title does not make a leader. People are mainly influenced by those whom they are in constant contact with on a day to day basis. Kouzes also feels that the best leaders should use five techniques to motivate others. First, lead by example. Your words should be modeled by your actions. Second, surround yourself with people who focus on similar ideas and goals. Third, do not wait for success, but instead go out and make things happen. Fourth, focus on your team. Talk to them and see what tool they need to be successful. Fifth, praise people for their efforts whether the outcome is good or bad. When people...
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...Successful managers’ qualities Introduction Management aims to improve effectiveness and efficiency. Different managers use different ways to achieve this aim. There have been many studies and theories explaining how to become a successful manager to achieve high management performance. Planning, organizing, controlling, staffing and leading have been stated as the basic function of managers (Daft, 2012). However, these functions are not enough. Today, the business world is filled with many uncertainties and dynamics. There are increasing challenges that a manager might confront. The new business world requires managers have more qualities to support their management work (Lepsinger, 2004). This essay will present the key traits and qualities that a successful manager should have in modern business world, with some examples from real business world. Planning There are many competitors in any industry today and the external environment is changing fast due to technology development, media influence or economic change (Daft, 2012). In such a background, it brings many difficulties to managers. An effective and capable manager should have strategic thinking and planning ability. McKenzie et al (2011) states agile and sound decision making is one of the core strategic capabilities of companies. A successful manager would effectively predict the development and changes in the business environment, and make active response to the future change. Take Liu Chuanzhi, the CEO of Lenovo...
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...Leadership Development A recent global survey by Kenexa reports that only 38 percent of employees rate their leaders as effective (ZIELINSKA, 2011, p1). Because of today’s troubled economic time; becoming an effective leader it is necessary toward making any organization successful. Although some people may think they don’t have leadership qualities, most people have demonstrated leadership, at one point or another, without even realizing it. Great leadership is so much more than technical or intellectual capability, while these qualities might help, but they are not that necessary in becoming a good leader. Since leadership requires personal qualities, beyond sure views of authority, People who want to become great business leaders are able to develop these leadership abilities. Good business leaders have to construct a clear plan of the goals they would like to achieve within their business and persistently drive it toward completion. They have to be clear about their own standards quality, but they must also understand the meaning of their job, as leaders. These individuals must understand the influence they have on others and also take responsibility for their actions. It’s hard to become a leader if there are no followers (ZIELINSKA, 2011). In order to conduct a successful business, building a personal rapport with your employees, is not enough; the leader must understand the dynamics of their team members and also how they work with one another. These individual have...
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...Entrepreneurial Leadership Terrence A Reed Jr Professor Christopher Mc Grath BUS 508, Strayer University 7/21//2011 Q1. Create a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker. In your philosophy, be sure to include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. These three different people all had different beliefs on what they believed could make a business successful. These ideas were what they found to be important in their own pursuit of developing a business. Their beliefs concentrated on areas such as practices of leadership, entrepreneurial leadership, beliefs that they have developed that were successful. Steve Case had developed a belief which made him successful in his business practice. He believed in a system that he called the three P’s, they concentrated on: People, Passion and Perseverance. This believed you should have the right people in place with the same creative passion. These workers must be willing to overcome any obstacle they encounter. Next we will discuss the beliefs that James Kouzes had developed that made him a success. First off, he believed that leadership pertained to anyone who leads people regardless of their position. These are practices that he felt a leader should perform, they are Model the way, Inspire assured vision, Challenge the process...
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...Entrepreneurial Leadership is a very important concept in today’s society. The determination of a person or business with the struggling of the economic and the many challenging that the economic having to face in order to get economic back on track, enabling the economic to be able to grow with the new technologies for the 21st century. An entrepreneurial leader a person has to “innovative, creative, and will to be open for change” (O’Connor & Fiol, 2002; Stevenson & Gumpert, 1983). The word entrepreneurial leadership is a very important element for an individual to have the knowledge of the many different changes that occurs with the economic and the continuously evolved of the current changes with the growth of the new technology. The most common elements that the three authors focus on where: entrepreneurial leadership and the strategies in how they are related within today’s society. The three different authors also had some similar focus on the entrepreneurial leadership’s vision and their creative. The first important element that Steve Case’s believes is: “The Three P”. “People, Passion, and Perseverance” (Case, 2010). Case’s believes that when a person’s innovation, are risk takers have an entrepreneurship will improve our economic. He also believes that entrepreneurship is the underline of our future for the economic. Steve Case’s believes that entrepreneurship is a growth of success to businesses and the way people live their lives in the future economic (Case...
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...n Entrepreneurial Leadership Llami Sloman Dr. Terry Dowdy Contemporary Business 508 July 21, 2011 Common Elements The common elements that were found in the thinking of Case, Kuzes and Drucker were some important factors of the decisions that were made. There are many risk that business along with people can take that will help change the world, as well there are many creative approaches that will help keep things fresh ad the product changing to stay current with the economy. Hiring people to work for the business that have a driven purpose is important, as well getting to know them along with there opinions is a way off being successful, also rewarding the employee when they are doing something successful. Its important to have a good management team that will lead the way for the employees to follow, be passionate about working and the employees will be the same about there work. Theory My “Business Driven” theory would be a business that can manage under the constant change of the economy rather its good change or bad change, this business will still be able to function and meet the needs of the customer and still be successful. The article “understanding entrepreneurial leadership in today’s dynamic markets” means entrepreneurial leadership has the privilege of being able to find different opportunities that are open in the global driven market. Being a business person a person must first know when to change directions in a market that is constantly...
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...A successful business is only as successful as its leaders, as well as its ability to communicate. Communication is key to success, whether it is inside the organization itself or between the organization and its consumers. The leadership style of any organization can affect its ability to effectively communication, both inside and outside the walls of the company itself. Leadership Styles In today’s business world, one can find several different modern leadership styles. Examples of these styles might include: charismatic, transformational, visionary, transactional, and servant leadership styles. (Nayab, 2011) Charismatic leaders seek out devotion in their workers in order to fulfill organizational goals. These leaders are constantly observing their environment to pick up the moods and concerns of individuals and larger audiences. Then, much like a predator to its prey, do they hone their actions and words to suit the situation. Leaders of this nature engender the trust of the people through visible self-sacrifice and take personal risks in the name of their beliefs. Transformational leadership is very popular in today’s business world, focusing on effecting revolutionary change in organizations through a commitment to the organization’s overall vision. These leaders sell the company’s defined vision, which is usually very radical in scope and nature. While some traits of these leaders are very similar to the charismatic leaders of an organization, transformational...
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...Abstract An entrepreneurial leader lends his or her vision, leadership style, and strategy to the core of the business. This individual is a major independent variable influencing the outcome and success of the business. For the new century, there is a new definition for entrepreneurial leadership. This new leader will need to be able to operate in a highly unpredictable world where competition is fast moving. This case analysis will define entrepreneurial leadership and discuss theories that relate to the new definition. Great teams have vast leaders who encourage and reward both individual and team success because of great leadership. The ability that the success of a company will continuously grow will be by its entrepreneurial leaders. Keywords: leadership, entrepreneurs, democratic leadership, motivating people New Definition of Entrepreneurial Leadership Entrepreneurs play an important role for making a company succeed, but they cannot do it alone. Entrepreneurs need to identify employee needs and lead the team to success. Entrepreneurial leaders are important for many businesses to succeed. Entrepreneurial leaders build trust and confidence in employees. To have a successful business, there are many theories and principles an entrepreneur should know. Steve Case former Chairman and CEO of AOL (Case, 2010) referenced that in order to have a successful business, the entrepreneur must focus on the three P’s; people, passion, and perseverance. He...
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...organizations and businesses need effective leadership in order for them to continue to be successful. Organizations without an effective leadership cannot correctly function or maintain the achievement of the company goals and visions. Effective leadership is a role dependent upon the leader and whether or not they can make certain their employees meet the objectives and standards of the company. There are a few things a leaders must know and show in order to encourage others to achieve higher levels of work. Many of the things leaders have to do does not come as a natural thing to them however it is acquired through much continued studying and hard work. Having the will power and desire can help a individual become an successful leader. Northouse describes leadership as a process whereby an individual influences a group of individuals to achieve a common goal. Defining leadership as a process means that it is not a trait or characteristic that resides in the leader, but rather a transactional event that occurs between the leader and the followers. Leadership involves influence. It is concerned with how the leader affects followers. Leadership occurs in groups. Groups are the context in which leadership takes place. Leadership involves influencing a group of individuals who have a common purpose. Leadership is about one individual influencing a group of others to accomplish there common goals. Attention to common goals also includes leadership. Leaders direct their energies toward...
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...A business is a responsibility of one person in many ways. There are large groups of people working in a business for a businessman. Managing them and their salaries is one of the examples of the responsibility I am talking about. There are different aspects of business we need to care about like managing your capital, labor, natural resources and many more things. A successful businessman is the one who combine all these resources together to make profits. Behind any successful business, there is a successful businessman. A successful businessman is the one with appropriate abilities and qualities. I think there are two types of qualities needed in a businessman. Some which a person can gain with education or experiences and some I believe are the personal qualities within the human being which are either naturally God gifted or inherited by certain family backgrounds. As I have given an introduction about what I am talking about, I will now explain furthermore about the essential qualities of a businessman as a need of a successful business. The most important of all is leadership. Leadership is a very important quality every businessman has to be comprised of. Leadership is very important as a business needs proper guidance to follow on. But leadership does not only mean guidance of a leader but leadership is a role which is played in order to gain loyalty and interest of your employees. Every businessman should also be of an interesting personality who can motivate his...
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...Entrepreneurial Leadership Tamia Sessoms Hopkins Dr. Prakash G. Menon BUS508 The Business Enterprise April 24, 2011 Entrepreneurial Leadership 2 The Abstract It takes the right leadership to inspire a team and an organization. Having a successful business depends on having a great leader who can provide guidance. This paper will discuss the hybrid/philosophy I created including the new definition of entrepreneurial leaderhsip presented in Understanding Entreprenuerial Leadership in today’s Dyanamic Market. I will also describe what type of leaders thrives in organizations. I will then evaluate the Small Business Administration and SCORE and explain which resource is most useful in businesses. Lastly, I will create a list of leadership best practices. Hybrid Theory/ Philosphy 3 In creating a hybrid theory/ philosphy, I had to put a considerable amount of thought into it and the result was everything in business is driven by people. I will begin by definining what is considered to be the new definition of entrepreneurial leadership. According to Fernard and Soloman (2003), Entreprenurial leadership is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. With this being said, to be successful starting a business it will take continuous innovation and creativity because the mindset has to be “what is good for our customers today, will not be good for our customers...
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...Entrepreneurial Leadership Zachyra Torres Sotomayor Michael Padgett July 17, 2011 Create a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker. In your philosophy, be sure to include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. In order to understand and develop a hybrid theory or philosophy, one must understand what each individual concept entails. An entrepreneur is a “person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.” (Boone, & Kurtz, 2010) Entrepreneurship is defined by Boone & Kurtz (2010) as the “willingness to take risk”. Leadership is “the process of developing ideas and a vision, living by values that support those ideas and that vision, influencing others to embrace them in their own behaviors, and making hard decision about humans and other resources.” (Hellriegel, & Slocum, 2010) An entrepreneurial leadership is passionate, he or she must believe in the product or service that they are creating; is driven by accomplishing a goal while challenging the process. An entrepreneurial leader will find a cost effective way to make a better product or provide a better service. Another characteristic that sets apart an entrepreneurial leader is that is he or she enables others to act encouraging them to share ideas, celebrating their success and recognizing...
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...Qualities for successful entrepreneurs In order to be a successful entrepreneur a person requires having certain qualities. Some of these qualities can be inborn yet some of these must be learned over time. I have decided to take a survey that shows the qualities that I do have as an individual. The reason why I have taken this survey is that I need to find the good qualities that I have that promote entrepreneurship and to notice the qualities I have to develop to be a successful entrepreneur. I have taken the VIA survey of character strengths test. Why I have taken the VIA survey of character strengths test. I have decided to take this test because it assists me to find out all the qualities that I do have that have a bearing, not only in my private life but also in my business one. The qualities that are surveyed by this test include: creativity, critical thinking, fairness, diligence, leadership, teamwork, enthusiasm, discretion, honesty, self-control, social intelligence, optimism, and humour, among others. I want to identify my strengths and weaknesses in terms of qualities that are essential for entrepreneurial success. I will cultivate the strong qualities I have and work hard to cultivate my weaker qualities. I wish to be a successful business person. What qualities to cultivate in order for me to be a successful entrepreneur I have taken the VIA survey of character and I have found out the qualities that I am good in. The following are my strongest qualities:...
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