Leadership and Entrepreneurship: Essay on Entrepreneurship

Introduction

This paper will present and describe the required information on “Entrepreneurship that is merely a special case of leadership” that discussed and covers into different sections and provides required relevant information about the key topics. The paper will start with small introduction that will provide the element of discussion that will be covered in the papers in the below sections and about the topics.

In the further sections, the paper will provide information about the topics defined in the above sentences in consecutive manner. At the end, the paper will conclude all the discussion that provide summarize information about the paper.

This paper also focuses on the concept of Entrepreneurship and concept of Leadership their key characteristics, merits, demerits, roles and responsibilities to understand the statement “Entrepreneurship is merely a special case of leadership”.  To define and discuss the required topics the paper consist information from numerous secondary sources about the Entrepreneurship and Leadership. The paper will also present some example that will help to easily understand the difference between an entrepreneurship and leadership that provides clear visibility about the topic “Entrepreneurship is merely a special case of leadership”. Apart from the concept of Entrepreneurship and Leadership in the below sections the paper present and discuss about the differences and relationship between leadership and entrepreneurship that provides clear visibility about the topic.

Discussion

Leadership is a process through which one a person provides guidelines derive path for an individual or group and influence them to achieve individual or organizational objectives and goals through execute the activities in effective and efficient manner. Leaders are the carryout this process through their leadership style, knowledge, skills, abilities and characteristics that helps to achieve predefine individual objectives and goals or common goal. Skills, attitudes, beliefs, values, ethics, character, knowledge are the key success factors and part of leadership. There are four key factors of the leadership: Leader, followers, communication and situation. Leaders use the leadership style to achieve overall success to get individual, group or organizational goal. The concept of follower describe about the style of leadership that leaders used for organizational functions: planning, staffing, organizing, executing and managing. Communication is factor that helps to create, maintain and retain the relationship in the organization. Situation defines the approach and expresses the trait leadership of leaders.

Leadership reflects the ability to inspire its people and it helps to build high aspirations, it convinces the team to attempt the impossible goals and objectives. They provide the better vision and mission with the help of proper communication among the team because this also helps them to focus on the measurable goals. The use of costs, benefits, schedules and proper planning helps in the goals achievement. There are different leaders in the world and that are not known as the managers because they are not supported by power of position. Most of the people in the management position are good at some things but on the same hand, they are not at all good at some things. Leadership requires proper investment and they ensures the responsibility of all managers to appreciate the values and to place the leadership in more tradition of the job.

Leadership is a common sense and it helps to set the direction, gains the commitment, creates an enthusiasm for the people to increase the level of efficiency, to develop the team capabilities, to make the change happen for the better future and many more. Thus on the other hand, the skills and capabilities of management that is required in the organization is proper planning, proper organizing, controlling and monitoring, establishment of the systems and processes and progress reviews etc.

 Apart from above discussion the below is the principle of Leadership that should be in Leaders:

1. Self analysis and self motivation:  Leaders should use self analyze process to find the scope of improvement and scope of opportunities areas for better enhance it terms of completing the organizational and management function in the above.
2. Technically expertise and sound : To execute the task in effective and efficient manner and coordinate the team or complete the task through other team members self expertise is very essential things that helps and make perfect and create positive image in the mind of followers and other team members.
3. Responsibilities taker: Leaders always ready to take new responsibilities and execute those responsibilities in effective and efficient manner. Leader’s leadership style derives the success path of the organization. They create, maintain and retain the client that provides businesses to the organization. Leaders also influence to other employees to take new responsibilities and help them to complete the responsibilities successfully.
4. Effective and on time decision skill:  To compete with competitors and sustain the business in the competitive market required quick and effective decision skill. The effective and on time decision skill helps to retain the business and also helps in strategic planning that define the short and long term objectives and goals of the organization.
5. Team building and team execution power; Organization gets success or achieves their target when their employees’ individuals and groups get their targets. Leaders help to develop the team sprites and team to execute the task on time in effective and efficient manner.
6. Motivate to others: In the above paragraph the paper discuss about the self analysis and self motivation is the one key principle that derive from the leadership concept. In the same manner to motivate the other employees also a very important for leaders to execute the task on time in effective and efficient manner to achieve overall success and growth within the organization. (Bennis, 2012)

Entrepreneurship is merely a special case of leadership

Entrepreneurs are that person, who supplies the risk capital as a risk taker, monitors and controls the numerous organizational activities. The person can be decision maker, decision taker and decides the produced goods or services.

Leadership and entrepreneurship creates the critical concepts in the research and sources. Leadership and entrepreneurship helps in the effectiveness as well as the performance. This affects the development and implementation in the organization. This may affect the business performance and the transformational leadership creates greater contribution in the performance. Today is the world of entrepreneurship and this helps to meet with the concept of organization level entrepreneurship. (Yang & Shiu, 2012)

The concept of leadership was developed in the year 1700’s and this created the meaning of great evolution in the world of business. There creates the significant chances of high profits and huge advantages. The entrepreneur’s drive for greater innovation and also focuses on huge improvements. This carries new combinations and creates better ways of doing things effectively. Thus it also performs new activities and better ways to do the things. Entrepreneurship creates the option for meeting important ingredients of economic, social and employment growth as well as opportunities. This is the primary source of job creation, income growth, and decrease in poverty etc. This also helps in rewarding the greatest personality. Thus it helps in terms of creativity, satisfaction, dedication, determination, flexibility as well as self-confidence, passion and other important factors. This is the spark for self-development and it helps to meet with the innovation and improvement. It also helps in continuous learning, thinking and other important formulas.

Every entrepreneur has this quality and possesses strong sense of opportunity. Thus they also help with greater possibility of achieving with financial rewards so as provides high capability to meet with the total operation and goals of the business.

They also create the greater opportunity for the contribution of the person and this helps them to bring with innovation strategies. For instance, Steve Jobs who was the co-founder of the Apple Company was the famous entrepreneur and leadership in the year 1976. The company also achieved high amount of success through this strategy.

There are different principles of entrepreneurship such as:-

It is really an impressive as well as attractive choice in the career options. It also focuses on the better decisions so as helps in managing the new business. They do motivate their employees for better work goals and for effective success. Thus they also meet with better vision and strategies to run the company with success and high sustainability. Entrepreneurs should make the effective choices of personal qualities and skills which can help in the business at the time of start up and investment. They are no doubt of different ages and also create the monetary teams as well. Thus they also experience the realm of life. This brings out with high potential. They also produce the innovative ways of approaches to deal with certain challenges and also to meet with new amount of services.

There are many factors of entrepreneurship and this creates the important ways of uniqueness so as differentiation. The successful entrepreneurship creates the new ways of differentiation, innovation as well as niche market. In the countries like fewer developing countries, the innovation is created in the developed countries. The entrepreneurship must focus on effective communication and they should directly communicate with the suppliers, distributors, customers and other important resources. Entrepreneurship provides information about the websites and other important reliable resources.

They also need to attract the potential customers and also they concentrates on launching the business effectively. Entrepreneurship focuses on innovation and the growth of the economy and also it is responsible for new opportunities. They need to protect the intellectual property as well as they invest in the new products. (Ait.org, 2012)

Thus under the case of leadership, there is the high ability of an individual to realize the vision of an organization. This should have converted to reality and also it should contribute great motto towards success. Leaders have common characteristics in front of business front and thus the real entrepreneur gets financial benefits through this approach. If the leaders are standardized in the visionaries, this creates the opportunities to great sense and knowledge of awareness as well as strengths and success. The leaders of entrepreneurs are strong synthesizers in terms of knowledge as well as disciplines. Entrepreneurial leaders are the customers and the markets and they understand it better in terms of market dynamics and opportunities. (Anand, 2007)

Entrepreneurs are the world of business and they also focuses on the important drive and factors of development. They are the symbol of business achievement as well as they are well known for leadership, management, research and development, innovation and creation of business. Thus it is the integrated approach and integrated concept of high amount of opportunities. Entrepreneurs start their business for some kind of profit and they start business to share some kind of information and to increase the revenue. They possess risk with various sources such as competitors, market, financial and other risks. These risks and skills create opportunities for growth and revenue. The mission of the entrepreneur is not only to be competitive but also to be superior high quality and world class in order to get acceptance in Sydney, Australia. (Cooray, 2012)

Entrepreneurs are also well known and highly aware of all the issues and risks in the business and they also try to reduce them which become possible from the help of business plan. This helps them to provide the high quality products to its customers which are very important for successful business. Entrepreneurs also provides high variety and quality which helps to generate high demand for price and loyalty. They are really very responsive which helps the customer to get quick and easy response and they do not have to wait in a queue. Thus this also provides exceptional services to the customers and the business remains competitive in the market. Their core competencies include internet presence in the market which is our major strength and it helps us to increase the customer as well as the market share.

The most essential part in any business is planning. Careful planning plays a vital role in setting the business successfully. Thus market research is the most successful strength of this business. To know the customer successfully and to understand the market potential, the research and surveys will be the most powerful tool of strength to this new business. The entrepreneurial activities also conducts proper surveys and market research, the business will be able to achieve high efficiency and will be able to provide great focus in the market. This will also help to develop new ideas with the help of group of people. Strong management skills are also required to make the business successful and also there is a requirement of strong and proper marketing skills which will help the business to benefit the experience and to start the new business. Thus by determining the competitor’s value, the business also is able to differentiate and provide high value to its customers.

Thus the above important discussions effectively proved that entrepreneurship and leadership is the key to success and this helps in changing the whole world with high effectiveness and also with the high contribution. Today leadership is required and is really important in all levels and all positions of the business. Thus this improves the overall business and also creates the better practices so as applications in the business.

There is clear vision and this also creates the high levels of empowerment. There are also some of the leaders in the organization that encourages the entrepreneurial behavior. The leadership skills and qualities also initiate the style of flexibility and high amount of activities in the organization.

This also creates the motive of doing things in a better ways and this creates the importance of better management. This also brings with new opportunities so as without the lack of leadership skills, the entrepreneur will never be successful. There will be lot of conflicts in the organization and also there will cause the negative outcomes in the organization. (Cohen, 2002)

 Conclusion

In conclude, the above discussion provide the sufficient information that justify the topic that “Entrepreneurship is merely a special case of leadership”. The discussions that consist in the above in different sections define the Entrepreneurship and Leadership, its merit, demerit, differences and relationship. As per the above discussion the Entrepreneurship that derive from the entrepreneurs. Entrepreneurs are that person, who supplies the risk capital as a risk taker, monitors and controls the numerous organizational activities. The person can be decision maker, decision taker and decides the produced goods or services. For instance, Steve Jobs who was the co-founder of the Apple Company was the famous entrepreneur and leadership in the year 1976 and Leadership is a process through which one a person provides guidelines derive path for an individual or group and influence them to achieve individual or organizational objectives and goals through execute the activities in effective and efficient manner. Leaders used these leadership styles, traits to execute the activities and managerial functions in effective and efficient manner to achieve the individuals’ and group’s goals and objectives and directly and indirectly achieve the organization or one common goal. With the help of above discussion and provided examples the paper concludes that leadership is numerous but entrepreneurship is special case of leadership.

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