...Assignment #1: Entrepreneurial Leadership 01-17-2011 Assignment #1 Entrepreneurial Leadership1. Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today's Dynamic Markets.The theories and philosophies of Steve Case (2010), James Kouzes (2008), and Peter F. Drucker (1985) have similar qualities. Both Case's and Kouzes' theories stress the importance of utilizing human resources in a business. Case stresses the importance of hiring and retaining key people. This is the first “P” of his three “P” theory. Kouzes theory of celebrating the values and victories in which leaders recognize individuals for their contributions to success by showing that they are valued in the company. Case's and Kouzes' theories align with the entrepreneurial leader who is a transformational leader who empowers the people. Though stated differently; Case, Kouzes and Drucker all agree that that a leader must possess an intense desire to succeed. Case describes this intense desire as passion, the second “P” of his theory. He says that a leader must possess a passion for the business. Similarly, Kouzes says that a leader can motivate others by aspiring to a shared vision (or passion). Drucker's theory of “Fustest With the Mostest” is aligned with both Case and Kouzes in that to be effective...
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...of pros and cons, with a lot of defenders and opponents. Are your inner qualities everything that you need in life in order to success? I think that it is not enough. Being honest I believe that qualities like creativity, passion and ingenuity, one of the most important entrepreneurial characteristics, are partly inborn but without developing your inhesions every single day you would not be a successful entrepreneur. It reminds me of Jeff Bezos graduation speech at Princeton University -“Would you be proud of your gifts”. The idea is that you need to improve yourself since you are child. In addition I would like to say that I have never seen baby entrepreneur, so probably your inborn qualities are not enough. To believe that everything you need in life is born qualities is wrong. If you are satisfied with your inborn qualities and believe in this theory you won’t do anything in order to improve yourself and that would be detrimental. Are entrepreneurs just a special bread or they become this way through education? It is a myth that someone is a born entrepreneur. Entrepreneurs can be thought and more important-they should be. How important is a diploma for your future entrepreneurial success? I think a lot. An education in a prestigious college or university is necessary to gain you skills and knowledge that would be very necessary in your future business life. I believe that basic knowledge of business planning, bookkeeping, financing, management and marketing are necessity...
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...Leadership styles, entrepreneurial orientation and family business growth in Ghana. The research problem While the number of family business abounds in Ghana, one sees lots of these slowly dying and some going bankrupt (Wolf, 2004). The lack of continuity and growth in family businesses is a major concern because of the primary contributory role that family businesses play in the world economy (Lansberg 1999: 1). It is perceived that entrepreneurial activities in Ghana lack the dynamism and competitive edge of those in more developed countries (Saffu, 2004). One reason that can be advanced is the lack of appropriate leadership style and competencies to manage the family business enterprises in Ghana (Wolf, 2004). Researchers in the fields of organizational behavior and leadership have examined leadership styles and their effects on such variables as job satisfaction, job stress, role conflict, job performance and organizational commitment (Humphreys et al., 2003, MacKenzie et al., 2001 and Stock and Hoyer, 2002), in the context of the North American and other developed countries and has rarely been conducted in emerging economies with different cultural orientation (Fakhrul et al 2011), and the Ghanaian context is no exception in this regard. Globally, there is a dearth of research regarding the influence of leadership styles and entrepreneurial orientation on the growth of service sector businesses including private schools. According to (Kest, 2007) there is a lack...
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...Introduction Entrepreneurial leadership is very important. A person who has entrepreneurial leadership is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome. An entrepreneur can come in any form and style. The entrepreneur is the person who is behind the firm, one who is demonstrating his/her quality as a leader by choosing the right managers. An entrepreneur may perceive that they are among the few to recognize or be able to solve a problem. Common Elements of Case, Kouzes, and Drucker One of the most common elements that characterize Case, Kouzes, and Drucker is aiming at leadership in a new market or arena. Having complete dominance in the market signifies a permanent position. According to Drucker (1985) when applying this strategy to the contemporary business, the entrepreneur aims at leadership, if not dominance, in a new market or new industry. Being "Fustest with the Mostest" does not necessarily imply creating a big business right away—though often this is indeed the aim. However, it does from the start aim at achieving a permanent leadership position. Being "Fustest with the Mostest" is the approach which many people consider the entrepreneurial strategy par excellence. Indeed, if one were to go by the popular books on entrepreneurship one would conclude that "Fustest with the Mostest" is the only entrepreneurial strategy. A good many entrepreneurs, especially...
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...Assessment#1- Analysis of Understanding Entrepreneurial Leadership in Today’s Dynamic Markets fobjbdema BUS508 - Business Entreprise Dr.ddddddddd Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles /strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. In discussing the new definitions entrepreneurial leadership as presented in “Understanding Entrepreneurial Leadership in Today’s Dynamic Market its probably best to describe the climate or environment which is often illustrated as one that is dynamic market , uncertain or a very competitive market which requires innovative thinking. In this type of market the fluidity, energy, motion, constancy and ubiquitousness of changes in the market occur very frequently and head to head competition between firms is common place and the pace, magnitude and direction of change is continuously accelerated and harder to predict. Teece, Pisano and Shuen (1997) as referenced by Fernald and Solomon in their paper, described today’s dynamic Schumpeterian world of innovation–based competition, price /performance rivalry, increasing returns and the ‘creative destruction of existing compeitencies.”(p.509) "creative destruction" was popularized by and is most associated with Joseph Schumpeter, particularly in his book Capitalism, Socialism and Democracy, first...
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...Rating Entrepreneurial Business Plans KEVIN HINDLE AND BRENT MAINPRIZE KEVIN HINDLE is a professor of entrepreneurship at the Australian Graduate School of Entrepreneurship, Swinburne University of Technology. Melbourne, Australia. khindle@swin.edu.au BRENT MAINPRIZE is the core professor of entrepreneurship in the Faculty of Management at Royal Roads University in British Columbia, Canada. brent.inainprize@royalroads.ca T here is a small but growing b o d y of research that details many desirable attributes a n d qualities that, at a general level, any entrepreneurial business plan should contain. It is a reasonable proposition that this research, and any principles it may contain, can and should provide the basis for a systematic approach t o b o t h the writing and evaluation of entrepreneurial business plans. Despite this, the majority of entrepreneurial business plan writing and evaluation is unsystematic—if systematic is taken to mean "based o n empirical evidence and developed theory." T h e vast majority of the a b u n d a n t literature on " h o w to write a successful business p l a n " is n o t research-based (Hindle [1997]). T h e espoused criteria of its authors far o u t weigh the formal application of the k n o w n attributes of successful ventures (Hindle and Mainprize [2002]). This article seeks to articulate a research-based system for assessing the c o n t e n t quality of e n t r e p r e n e u r i a l business plans...
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...The potency of entrepreneurship to the creation of business and generation of employment can not be overemphasised. The relevance of its introduction to universities’curriculum shows its importance to the economy. The introduction of entrepreneurship education in Nigerian universities was a presidential initiative and the resolution which its formation was hinged upon was enacted in a meeting held on 28 September 2006 in the secretariat of the National Universities Commission (NUC) with education stakeholder. The central message of this resolution was that the NUC in consonance with the Federal Government of Nigeria should enhance the employability and self employment potential of Nigerian youth in the Nation’s universities (Dada, Fayomi &...
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...The three pillars of GCUs College of Business are Entrepreneurial Spirit, Innovation and Servant Leadership. These are three key characteristics that are critical in building a strong foundation for students to succeed in their professional growth and in business. This paper reviews each of these pillars and how they apply personally to my work environment and career development. Entrepreneurial Spirit The entrepreneurial spirit is composed of multiple characteristics including but not limited to passion, vision, creativity, autonomy, and risk-taking. Possessing an entrepreneurial spirit is an important quality not just for individual success but for that of a business as well. For a business to maintain growth and sustainability it must maintain core competencies and have an entrepreneurial value system that it sticks to (Chaifetz, 2010). Chaifetz (2010), discusses how his company encourages the entrepreneurial spirit amongst his employees to be innovative and challenges them to think of new ideas. As his company has grown it has not fallen subject to common problems such as inflexibility, bureaucracy, and standardization that are often seen when companies expand. In fact, the approach is taken to provide employees with the tools and resources necessary to implement innovative ideas and tailor services for their customers. Not only does this method add to the entrepreneurial culture in the company it also lends to enhanced customer service directly impacting its success. I...
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...PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Continual Paradigm Shifts in Entrepreneurial Leadership Barbara Gilley Professor Daniel Frost BUS508013VA016-1116-00: Strayer University July 17, 2011 CONTINUAL PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Pg.2 ABSTRACT This paper will focus on Creating a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker, including the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets, and will describe what type of organization a transactional, transformational, and authentic leader would thrive in the most, as well as which type of leader would thrive the least, as well as, evaluating the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses; a rationale will be explained. This paper will evaluate the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses and a rationale will be explained; and this paper will create a list of leadership best practices that would apply to the greatest number of businesses both small and large, and a rationale will be explained. CONTINUAL PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Pg. 3 ...
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...What Makes a Good Entrepreneurial Leader? Ask Middle Managers: Knowledge@Wharton ( http://knowledge.wharton.upenn.edu/article.cfm?articleid=347) What Makes a Good Entrepreneurial Leader? Ask Middle Managers Published : April 25, 2001 in Knowledge@Wharton According to a recent Industry Standard article, the highly successful entrepreneur John Peters, now CEO of broadband service provider Sigma Networks, characterizes himself as a "serial entrepreneur" who tends to spend about four years on each of his startups. "I just thrive on the uncertainty, the challenge and the creativity of starting a company. I like the blank piece of paper." It’s no surprise that Peters, and other entrepreneurs like him, crave new beginnings, risk and change. Indeed, those characteristics almost define the breed. But according to a paper by Vipin Gupta, management professor at Fordham, and Ian C. MacMillan, director of Wharton’s Sol C. Snider Entrepreneurial Center, entrepreneurs aren’t the only ones who should be able to embrace the challenge of that "blank piece of paper." In their analysis, Entrepreneurial Leadership: Developing a Cross-Cultural Construct, Gupta and MacMillan use a term coined by MacMillan - "entrepreneurial leader" - to encapsulate the style they believe today’s managers must cultivate. They outline the qualities of an entrepreneurial leader and back up their assertions using a 60-society survey of middle managers around the globe. The survey suggests that a majority of businesspeople...
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...entrepreneur, a quality, a way of thinking or an ideology. There are four major elements are significant with entrepreneurial spirit: enterprising spirit, adventure spirit, innovative spirit and social responsibility. Cultivating entrepreneurial spirit can shape the correct social values and create a good environment for the formation of the entrepreneurship. The essay has explained what is entrepreneurship and analysis of this topic. 2. Entrepreneurs Entrepreneurs are those who have innovative and enterprising spirit, and they can organize and utilize economic resources effectively. Usually entrepreneurs dare to take responsibility for business operation, and they have special qualities that create wealth for the enterprise and society. Entrepreneurs can be divided into three types: traditional entrepreneurs, entrepreneurs, and social entrepreneurs. Traditional entrepreneurs have including the creator of private business and outstanding leaders of state-owned business. The former is creating enterprise or make it stronger, and they must assume all operating risk of enterprise. They tend to be the supreme leader of enterprise or have the right of exercise control in the enterprise, and it returns society though pay taxes. The latter have not the ownership of enterprise, and they have made the state-owned enterprise implements a leap-forward development though good team leader. 3. Entrepreneurship The value of entrepreneurship should be an abstract concept. It may be a quality, a thought...
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...P A R T 1 Venture Opportunity, Concept, and Strategy Entrepreneurs have important roles in creating new businesses that fuel progress in societies worldwide. The entrepreneur uses innovation and technology to foster positive impact and activity in all facets of life. The capable entrepreneur learns to identify, select, describe, and communicate the essence of an opportunity that has attractive potential to become a successful venture. The entrepreneur is able to describe the valuable contributions of a venture and create the design of a business model that can be sustained by a competitive advantage. The venture team creates a road map (strategy) that can, with good chance, effectively lead to the commercialization of the new prod-uct or service in the marketplace with a sustainable competitive advantage. ■ C H A P T E R 1 Economic Growth and the Technology Entrepreneur There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction. John F. Kennedy |||||What drives global entrepreneurship?|| |C H A P T E R O U T L I N E|||| ||||| |||||ntrepreneurs strive to make a difference in|| 1.1|The Entrepreneur’s Challenge|||| 1.2|The Entrepreneur||our world and to contribute to its better-|| ||Ement. They identify opportunities, mobi-|| 1.3|Economics and the Firm||| |||lize resources, and...
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...After review of the case study Psychographic Segmentation of the Self-Employed I found that my entrepreneurial skills and characteristics mostly resemble those of the “General Entrepreneur”, however an argument could be made that I also carry some of the characteristics of an “Exemplar” type entrepreneur. As a “General” I understand that I’m in the driver’s seat when it comes to my future, rarely letting outside forces dictate the path that I want to take in life. I’m a self-directed person who typically approaches a task independently, yet I see the value in team oriented tasks. With that said I believe quality entrepreneurs understand that rarely can success be achieved alone, and having a strong team of professionals around you is important. As a junior manager for a company years ago, the most difficult task for me to overcome was effectively delegating work to team members. Often times I found it hard entrusting in other team members to effectively accomplish a task timely and effectively, and believed I would be better off if I just did the work myself. It got to the point where the burden that I had put on myself because of my unwillingness to cede power to others, ultimately started affecting my quality of work. “Generals by contrast, would be much less likely to cede power due to their overly developed locus of control” (Kenney & Weinstein, 2010). In recent years I’ve learned to improve this, and have been rewarded for above average leadership skills, which is...
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...A Term Paper On Problems of Entrepreneurial Development In Salt Industries of Khulna City Course Title: Field Work of Entrepreneurship and Small Business Development Course No: BA-3242 Submitted to Md. Mizanur Rahman Associate Professor Submitted by S.M. Arifuzzaman MD. Romel Rana S.M. Amir Khasru Sayeda Rebeka Sultana Nasruma Afrin Jhumu ID # 020303 ID # 020327 ID # 020331 ID # 020334 ID # 020337 Business Administration Discipline Khulna University Khulna. October 20, 2005 Letter of Transmittal October 20, 2005. To Md. Mizanur Rahman Associate professor Business Administration Discipline Khulna University Khulna-9208 Dear Sir, It provides us enormous pleasure to submit the report on “Problems of Entrepreneurial Development in Salt Industries of Khulna City”, which was assigned us on September 13, 2005 as a part of our course requirement. We convey our best tribute and thanks to you for providing us the opportunity to prepare this report and undergo such a valuable practical experience. We tried our level best to satisfy the purpose of the report and finally became successful to place our hard work ahead of you. If you want to know more and ins and outs of the report, we would be gladly available to answer you. Sincerely Yours S.M. Arifuzzaman ID # 020303 Md. Romel Rana ID # 020327 S.M. Amir Khasru ID # 020331 Sayeda Rebeka Sultana ID # 020334 Nasruma Afrin Jhumu ID # 020337 Acknowledgement At the very outset we like to acknowledge...
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...Strategy in Entrepreneurial Ventures A case study by, Arun Venkatachalam FT MBA 2009/10 May, 2010 Table of Contents 1. 1.1. 1.2. 1.3. 1.4. 2. 2.1. 2.2. 2.3. 2.4. 2.5. 3. 3.1. 3.2. 3.3. 3.4. 4. 4.1. 4.2. 4.3. 5. BACKGROUND ....................................................................................................................................... 3 Who or What is ‘LOVEFiLM.COM’? ................................................................................................. 3 Why are they considered a high growth entrepreneurial company? ..................................................... 4 Where they are currently? .................................................................................................................... 6 What is the basis for this report? .......................................................................................................... 6 BEGININING OF ‘LOVEFiLM.COM’ .................................................................................................... 7 The Innovative Online Business Opportunity ...................................................................................... 7 The Market Analysis of 2001/2002 ...................................................................................................... 9 Strategic Analysis of the Business Environment ................................................................................ 10 Competitor Analysis ...........................................
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