Entrepreneurial Leadership Abstract Entrepreneurial leadership helps develop and sustain elements of the organizational culture. Bergstrom (2004) interpreted that entrepreneurial leadership has three dimensions: 1) take more risk; 2) favor change to obtain the advantage; and 3) compete aggressively. We will discuss the common elements of different theories and philosophies as it relates to the new definition of entrepreneurial leadership. I will discuss my leadership style that I aspire to be, and compare it to dimensions of other leadership styles.
Entrepreneurs have a wealth of knowledge at their finger tips using tools and resources available through the Small Business Administration (SBA) and the website SCORE. We will explore and compile useful information that can be obtained from the SBA that entrepreneurs and new business owners can use to gain an advantage on start up. I will describe my personal principles of leadership and explain why I believe in them. Entrepreneurial Leadership 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.
Entrepreneurial leadership is a complex style of leading. Individuals who practice this style are generally; driven, risk taker, aggressive and can recognize when change will give the advantage. Peter Drucker (1985) discusses several strategies of entrepreneurs, but “Fustest With the Mostest” is one that looks to the future. Entrepreneurs are looking to the future of creating a new market or industry with their innovation. James Kouzes (2008) highlights his five practices of exemplary leadership. One of the five practices, “Inspire a Shared Vision” is leaders envision the future and create an ideal image of what the organization can become.
Steve Case (2009) spoke at George Mason University commencement ceremony about his leadership philosophies of people, passion and perseverance. Case’s “Perseverance” is looking at what the company was going to do in the future not immediate gratification. The common element of all three of these theories/philosophies is look to the future. Immediate gratification will not suffice for the long term goals. Searching for common elements in the theories/philosophies of; Drucker, Kouzes and Case, I have identified yet another. Drucker’s “Creative Imitation” entrepreneurs improve a product or market already done.
Kouzes’ “Challenge the process” leaders look for the challenge and ways to improve the process. Case’s “Passion” focuses on what you are passionate about and keep improving it. The common element is looking for ways to improve. Leaders are never satisfied with just achieving the goal. Once it’s achieved another goal is set. Leaders never stop wanting the best for themselves and the organization. The above mentioned theories/philosophies relate to the new definition of entrepreneurial leadership in that leaders help develop and sustain elements of the organizational culture.
They have the ability to recognize opportunities and understand resources and capabilities. The related elements help develop the leaders, as well as, contribute to the success of the business. Discuss your leadership style or the style you aspire to be and how it compares to transactional, transformation, visionary, charismatic, principled, and entrepreneurial leadership. I have a vision of my leadership containing values, harmony, integrity, ethics and inspiration. I hold a high level of respect for my peers and subordinates. I expect my subordinates to do the same.
I like to motivate and encourage as well as challenge the mind. I look for big opportunities and very well equipped employees. My leadership style compares more to principled leadership. I’m moral and ethical with high integrity. I do have characteristic of the other leadership styles. Charismatic with vision and articulation, transformational with enthusiasm and energy, transactional with clear chain of command, entrepreneurial with opportunities, and visionary with seeing the big picture. To sum it up, I am a transactional transformed visionary with charismatic principles who likes to lead.
Discuss how you would use resources and tools available through the Small Business Administration and SCORE. A wealth of knowledge is compiled in one location for the small business entrepreneurial. The Small Business Administration website offers the Small Business Training Network (SBTN) which is a virtual campus offering online courses, publication and other forms of technical support. Gaining as much knowledge about running a business will give you that more of an advantage in a down economy. I would use the business planning and business management on the virtual campus.
This would educate me on preparing a business plan and finding out how to strategically plan for the future of my business. Also on the SBA website they have a course on the SBTN on Finance and Accounting. This course will explain SBA financing and funding for the small business, it will walk you through filling out the loan packet, and it will introduce you to accounting. One of the most important aspects of running a business is the bookkeeping. Every business owner should know how to record income and expenses. I then went to the SCORE website, they have a template gallery for free downloads.
I could down load a start up business plan, 12-month cash flow spreadsheet and a 12-month sales forecast spreadsheet. SCORE also provides podcasts for marketing and estimating expenses. There is an enormous amount of education and business prep materials for the small business entrepreneurial at a key stroke. Describe your personal principles of leadership and your rationale for selecting them. My personal principles of leadership include responsibility and honesty. I have to take responsibility for my actions and be honest with the outcome.
As the old saying goes, “the truth can hurt”, and sometimes it can, but as a professional I have to learn to deal with it. I much rather be told the truth than lied to. I would also have to include Self-discipline and integrity as part of my personal principles of leadership. Self-discipline and integrity holds me accountable to myself, the organization, peers and subordinates. You have to be honest to yourself and hold yourself to a higher standard before you can do that for and to others. I have a set of core values that keep me driven and committed to anything I do.
References Bergstrom, A. (2004). Synopsis of Entrepreneurial Leadership: Developing and Measuring a Cross-Cultural Construct. Leadership Review, Vol. 4, 103-104. Drucker, P. (1985). Entrepreneurial Strategies. California Management Review, Vol XXVII, No. 2. 9-25. Kouzes, J. (2008). Rising to the Leadership Challenge. Podcast #:08-27. Case, S. (2009). 2009 George Mason University Commencement Speech: People, Passion and Perseverance. http://www. casefoundation. org/blog/steve-case-george-mason-university-commencement-speech