Subject: strategic Entrepreneurship
Assignment on: Leadership as most defining characteristics of entrepreneurship
Submitted to: Jonas GabrielssonSubmitted by: Kamini Patel
Id No: 800930-T089
Leadership as most defining characteristics of entrepreneurship
Entrepreneurship is the capacity and willingness to develop, organized and manages a business venture along with any of its risk for making profit. Entrepreneurship has many characteristics like motivation, creativity, innovation, risk tolerance, visionary, flexibility, and open mindedness. But from my point of view leadership is main important characteristics of Entrepreneurship. Not all Entrepreneurs are equal; some are better leader then others. Often Entrepreneurs follow their passion for an idea to understand they need to sharpen their leadership capabilities.
The leaders have a futuristic vision and have a good command on communication. They continue support and guide the employee to achieve the organizational goal. They have the ability to create environment that motivates the others to grow and thrive. In Entrepreneurship this leaders act and react in an honest manner and generally shared their success with others.
In Entrepreneurship, leadership makes real difference. Its positively affect the productivity and performance of the organization by making positive occurrences in the life of organizational associate. They also empower organizational culture in order to produce long term thinking and successful outcomes through different aspects such as decision making processes, employee turnover and the adaptability of company to change. Leadership can be an evolutionary process. Business owner who provide leadership can transform and employee from workers to a valuable team member. Larger business organization can suffer from too many individual trying to make business decision, Entrepreneurs can use leadership skill to set manager and employee on the same page and refocus on original goal. Leadership can also help current poor business practice or internal conflict between employees. Leaders understand the important of team work and how to incorporate the skills of every member. The skills of individual in the company can be improved through adequate training that help everyone to handle the responsibility at efficient way. a good leader never hesitate to admit when he/she has failed to meet obligations and duties. Leaders also learn from their mistake and take accountability for the mistake.