Entrepreneurial leadership involves organizing and motivating a group of people to achieve a common objective through innovation, risk optimization, taking advantage of opportunities, and managing the dynamic organizational environment.
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The traditional corporate mindset has its focus on systems and processes, whereas the entrepreneurial style is more risk oriented.
Keywords: entrepreneurs, entrepreneurship, competitiveness, development JEL classification: M10, M13 1.1 The role of the entrepreneur in business Entrepreneurship is the most important aspect of economic development in the last period of business history. Worldwide, these heroes of the new economy. Entrepreneurial Leadership for the 21st Century Volume 13, Number 4, 2007 3 renewal process that pervades and defines market economies. New and emerging firms play a crucial role in the innovations that lead to. 'Entrepreneurship is meant the function of seeking investment and production opportunity, organizing an enterprise to undertake a new production process, raising capital, hiring labour, arranging the supply of raw materials, finding site, introducing a new technique and commodities, discovering new sources of raw materials and selecting top.
Some of the common entrepreneurial leadership characteristics are as follows.
1. Communication skills
The leader is able to clearly articulate their ideas, and the plan to achieve common goals. They encourage communication between departments and across levels. They avoid ambiguities and generalizations, and are able to avoid conflict and misunderstanding due to poor communication.
A successful entrepreneurial leader has a clear vision. He knows exactly where he wants to go and how to get there. They communicate their vision to the team and work with them to make the vision a reality.
An entrepreneurial leader realizes the importance of initiative and reactiveness, and they go out of their way to provide all the support that the team needs to achieve their goals. The leader usually does not punish employees when they take a calculated risk which misfires. Instead, they sit down with employees to analyze what went wrong and work with them to correct the mistakes.
The leader has tremendous belief in themselves and has confidence gained from years of experimenting, at times failing, and learning. They are aware of their strengths and weaknesses, and demonstrate their skills without hubris. An entrepreneurial leader is very self-assured.
5. Shares success
When the team or the organization succeeds at something, the leader does not hog the limelight or take all the credit. They acknowledge the contribution of others and shares the accolades with them.
You will not find an entrepreneurial leader cooped up in the office. Leaders like to spend time among employees, walk around the factory or department, interact with everyone, and see them doing their job. This leader will usually take some time out to informally chat with employees, and understand their work and personal challenges.
7. Create an atmosphere conducive to growth
With a deep understanding of the importance of other people’s contribution to organizational success, the entrepreneurial leader creates an atmosphere that encourages everyone to share ideas, grow, and thrive. They actively seek other’s opinions, and encourages them to come up with solutions to the problems that they face. The entrepreneurial leader also provides positive feedback when employees come forward with an opinion.
Honesty is the most important quality of an exceptional leader. Entrepreneurial leaders who are honest are able to quickly win the trust of their employees. People respect leaders to come across as honest, and are more likely to accept positive or negative feedback and also work harder.
When the going gets tough, the entrepreneurial leader perseveres. True entrepreneurs simply don’t quit, they keep going till they find what they’re looking for.
The leader not only invests significantly in learning and updating their knowledge, but they also create a learning environment in the organization encouraging others to improve their knowledge, widen their experience, and tackle multiple challenges. They encourage employees to think outside the box and come up with creative solutions to problems.
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The services Y Scouts performs are so inherently humane in nature, and that’s how they approached it from the beginning. Rather than viewing the roles we asked them to help us fill as holes in our organization chart, they realized we were really looking to add leaders with very specific talents and a passion to join our specific culture and ecosystem. Their approach to finding candidates that share our core virtues first is very similar to our proven and trusted process for finding committed faculty in our academies. Our leader they placed has already been delivering impact in ways we hadn’t expected. He’s been the absolute example of how adding the right person can be worth a multiple on the investment.
I have had a great experience working with Y Scouts. Their team led our agency through the recruitment process for a new CEO with great results. Our search lead was knowledgeable, helpful, always available to support us through all of the decision points we encountered.
Entrepreneurship isn't simply about having a great idea. We hear those form all sorts of people all the time. It's rather about implementing these ideas, having the courage to follow-through, often through thick and thin and persevering all the way. As so much goes into the process, we've put together this wide variety of important resources to help you along the way. From Business and Marketing Plans, to grasping basic accounting principles, to the art of selling, managing and of course; getting that little boost of motivation when the chips seem down. We hope these will aid in what could be one of your most rewarding journeys. To your success! Your friends at Free-eBooks.net.1
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