...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. Entrepreneurial Leadership has many different meanings across disciplines. The new definition of Entrepreneurial Leadership is one of an enterprising, transformational leader who operates in adynamic market that offers lucrative opportunities (Tarabishy, Fernald, Solomon, 2010). The theoriesof Case, Kouzes, and Drucker share many similarities to the new definition of entrepreneurialleadership. The main elements shared by these individuals and the new definition of entrepreneurialleadership is entrepreneurial leaders have a clear vision, create opportunities, and adapt to change.One common element Case, Kouzes, and Drucker share with the definition of Entrepreneurialleadership is that entrepreneurial leaders have a vision for their business aspirations. Each theory of the characteristics of entrepreneurial leadership states that these leaders have a clear picture of theaspirations for their business venture, potential success, and the means in which to achieve thegoals. Entrepreneurial leaders not only vision, but can effectively articulate their vision to employees,stakeholders, and others in order to inspire and facilitate a shared vision. The vision oftentimes is thefoundation that entrepreneurship based...
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...Assignment #1- Entrepreneurial Leadership T’Juan Rucker Dr. Birmingham The Business Enterprise- BUS 508 October 28, 2010 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. Entrepreneurial Leadership has many different meanings across disciplines. The new definition of Entrepreneurial Leadership is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities (Tarabishy, Fernald, Solomon, 2010). The theories of Case, Kouzes, and Drucker share many similarities to the new definition of entrepreneurial leadership. The main elements shared by these individuals and the new definition of entrepreneurial leadership is entrepreneurial leaders have a clear vision, create opportunities, and adapt to change. One common element Case, Kouzes, and Drucker share with the definition of Entrepreneurial leadership is that entrepreneurial leaders have a vision for their business aspirations. Each theory of the characteristics of entrepreneurial leadership states that these leaders have a clear picture of the aspirations for their business venture, potential success, and the means in which to achieve the goals. Entrepreneurial leaders not only vision, but can effectively articulate their vision to...
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...Common Elements Steve Case discussed how innovation, risk taking and entrepreneurship are essential to get the economy back on track. He states that entrepreneurship is essential for the countries’ underline economic future (Case, 2010). He mentions that a successful entrepreneur has three main characteristics: People, Passion, and Perseverance. Case believes that the right people need to be aligned to the right priorities and that the underlying passion cannot survive with only the founder and CEO (Case, 2010), “Therefore, when times get tough, as they sometimes do, they will have the courage to see it through it” (Case, 2010). Case used real life examples to show how lack of innovation can be harmful to a company. One example he gave was the merging of AOL and Time Warner. He mentioned that the merger happened at the peak of the Internet frenzy and the failure of the economy. He used the three P’s to explain why the merger was a failure: People- people began to focus on their own issues rather than innovation; Passion-that AOL lost its original drive and that the innovating, pioneering people started to become more corporate; and Perseverance- they assumed that the Internet was a fleeting phenomenon and preceded to back away from it. Case then concludes with a quote by Thomas Edison, although the P’s are necessary that “vision without execution is hallucination” (Case, 2010). James Kouzes’ theory consisted of five characteristics of an effective leader and how to achieve...
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...Entrepreneurial Leadership Contemporary Business, BUS 508 July 17, 2011 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 presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Knowing what it takes to become an entrepreneur and establish a successful and thriving business is not easy. Entrepreneurs are risk takers and they understand that no matter how small or large the venture there must be a strategy and a business plan in place in order to operate a profitable business. In order to accomplish this there are particular leadership skills, practices, and principles that are required. Social ecologist Peter Drucker, Former AOL CEO and Chairman Steve Case, and leadership scholar James Kouzes each have a different set of common elements, however, they all share similar principles, philosophies, and strategies that define what is expected of an entrepreneur and the relationship between their philosophies and the new era and definition of entrepreneurial leadership. Former AOL CEO and Chairman Steve Case based his philosophy on the 3P’s “People, Passion, and Perseverance”. In the video Steve Case described the realization that the technology industry was out of touch with the people by making technology too complicated to use and that consumers wanted simplicity in technology...
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...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...
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...CARIBBEAN EXAMINATIONS COUNCIL Caribbean Secondary Education Certificate CSEC ® PRINCIPLES OF BUSINESS SYLLABUS Effective for examinations from May/June 2008 Including 2009 amendments CXC 08/G/SYLL 06 Published by the Caribbean Examinations Council. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means electronic, photocopying, recording or otherwise without prior permission of the author or publisher. Correspondence related to the syllabus should be addressed to: The Pro-Registrar Caribbean Examinations Council Caenwood Centre 37 Arnold Road, Kingston 5, Jamaica, W.I. Telephone: (876) 630-5200 Facsimile Number: (876) 967-4972 E-mail address: cxcwzo@cxc.org Website: www.cxc.org Copyright © 2006, by Caribbean Examinations Council The Garrison, St Michael BB14038, Barbados CXC 08/G/SYLL 06 2 Contents RATIONALE...........................................................................................................................................................1 AIMS ........................................................................................................................................................................1 GENERAL OBJECTIVES ......................................................................................................................................2 SKILLS AND ABILLITIES TO BE ASSESSED ........................
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...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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...Leadership BUS508 Assignment 1 Dr. Janet Durgin 1.) 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. Both cases Kouzes and Drucker both agree that the leader must have a very intense passion to succeed. The two authors description of the desire needed by leaders is passion which is a deeply intense desire to succeed and strive to make the business grow. It was stated a leader must possess passion for the business, which gives them drive to want to plan and accomplish goals. Kouzes makes similar statements, he says that a leader can motivate others by aspiring to share their goals, encouraging others under them they can obtain the same success and accomplish many goals. Drucker’s thoughts were very similar to Case and Kouzes, along the lines of being effective it requires extreme discipline of effort and passion for anyone gaining success focusing on their goals. The theories of all three gentlemen are share similar thoughts and agreements on leadership being ready to take charge and lead in spite of discouraging or opposing others to be passionate about their positions, jobs or business. Kouzes mentions the leaders should challenge the process by searching for opportunities to grow and improve 2.) Discuss your leadership style or the style you aspire...
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...2011 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 entrepreneur leadership presented in Understanding Entrepreneurial Leadership. The common elements described in the theories/philosophies of Case, Kouzes, and Drucker are vision, adaptability, and creativity. The new definition of Entrepreneurial Leadership is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities (Tarabishy, Fernald, Solomon, 2010). Case, Kouzes, and Drucker theories share some commonality with the new definition of entrepreneurial leadership. The common elements shared Case, Kouzes, and Drucker and the new definition of entrepreneurial leadership is that entrepreneurial leaders must have a clear vision of a need to meet, create opportunities, and adapt to the ever changing environment. The vision for a entrepreneur is an a ideal of how to make their business a success. Usually something that will make the lives or people easier or meet a need of people that has not been met. Once the entrepreneur has this ideal they must then pursue it passionately to no end. For example “the two young engineers who started the Apple computer-in the proverbial garage and without financial backers or previous business experience-aimed from the beginning at creating an industry and dominating it” (Drucker, 1985). The element of creativity...
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...Entrepreneurial Leadership 1 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. What is an Entrepreneur? We find entrepreneurs in manufacturing, business, agriculture, health care, tourism, education, government, and the arts. Essentially, we find them among employees and employers in all sectors of life. Being an entrepreneur means more than being a business owner. It means possessing entrepreneurial qualities and characteristics essential to being a productive citizen and excelling in one’s career. Being entrepreneurial means creating something new or developing ideas or projects; it means not following prescribed paths and thinking outside the box. The entrepreneurial spirit is the heart of a society that moves forward and adapts to changing economic, technological, and social challenges. Entrepreneurial leaders tend to crave new beginnings, recognize a need for change and aren’t afraid to take the necessary risks. In regards to Case’s podcast “People, Passion, Perseverance: You’ve Got Entrepreneurship”, Kouzes’ podcast “Rising to the Leadership Challenge” and Drucker’s article “Entrepreneurial Strategies”, all three passionately briefed about possessing the spirit of being an entrepreneur. The gentlemen shared the same common leadership elements...
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...entrepreneurial leader lends his or her vision, leadership style, and strategy to the core of the business. This individual is a major independent variable influencing the outcome and success of the business. For the new century, there is a new definition for entrepreneurial leadership. This new leader will need to be able to operate in a highly unpredictable world where competition is fast moving. This case analysis will define entrepreneurial leadership and discuss theories that relate to the new definition. Great teams have vast leaders who encourage and reward both individual and team success because of great leadership. The ability that the success of a company will continuously grow will be by its entrepreneurial leaders. Keywords: leadership, entrepreneurs, democratic leadership, motivating people New Definition of Entrepreneurial Leadership Entrepreneurs play an important role for making a company succeed, but they cannot do it alone. Entrepreneurs need to identify employee needs and lead the team to success. Entrepreneurial leaders are important for many businesses to succeed. Entrepreneurial leaders build trust and confidence in employees. To have a successful business, there are many theories and principles an entrepreneur should know. Steve Case former Chairman and CEO of AOL (Case, 2010) referenced that in order to have a successful business, the entrepreneur must focus on the three P’s; people, passion, and perseverance. He further posits...
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...who seeks a profitable opportunity and takes the necessary risks to set up and operate a business (Boone and Kurtz, 2011). In the past 15 years researchers have tried to merge those two concepts into one concept Entrepreneurial Leadership .The common point of those researchers is that most defined some of the main elements of what they taught entrepreneurial leadership meant (Tarabishy, 2003). According to the research result of Ayman Tarabishy (2003) entrepreneurial leadership is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. Entrepreneurial leaders are usually risk takers, driven, and can recognize when change will give an advantage. Entrepreneur leaders are engine of innovation, renewal, and job creation (Verheul, 2007). Entrepreneur leaders apply their talent in different situations and have different entrepreneurial approaches. Thesis Statement: In analyzing the importance of leading entrepreneurs to determine their entrepreneurial approaches one of each of the following categories will be addressed: (1) profit oriented, (2) social responsibility oriented; 3) personal approach and leadership style identified; and (4) tools available that would be the most useful to the type of business and entrepreneurial approach. 1.Analyze and describe the founding leader(s),leadership style , and major business principles of a profit oriented entrepreneurial approach in which the primary goal is to provide a product...
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...SIWA BUS 519 – Project Risk Leadership Analyze and describe the founding leader(s), leadership style, and major business principles of a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit. The following leaders , Larry Page, Sergey Brin (Google), Thomas Edison (Light Bub), Vicor Kiam (Remington Electric Shavers), Peter Drucker (Management Thinking), Blake Mycoskie (TOMS) and Anita Roddick (The Body Shop). The leaders all had a similar leadership style; they looked for innovative ideas and customer needs and invested their own money along with securing funds from investors. They had a vision, to be the best, make an impact and use constructive feedback to learn from it and improve on the bottom-line. They did not use the media to promote their product rather used their product to be innovative and allowed it to promote itself to get market share. Successful Entrepreneurs study and learn from how to make a profit by aligning their business strategy from entrepreneurs that have gone through and documented their lessons learned. The primary goal of the leadership style was to provide a niche and service to consumers and make a profit. Analyze and describe the founding leader(s), leadership style, and major business principles of a social-responsibility oriented entrepreneurial approach in which the primary is goal to make a positive impact on society (people...
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...Entrepreneurial Leadership Task 1 Analyze and describe the founding leader, leadership style, and major business principles of a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit. Task 1 Response At the age of 22, John Schnatter founded Papa John’s Pizza in 1984 (Cendrowski, 2009). Mr. Schnatter converted a broom closet at Mick’s Lounge bar into a takeout pizza restaurant (Cendrowski, 2009). The concept of the takeout pizzeria was conceived during his studies at Ball State University (Cendrowski, 2009). During this time, he wanted to build a pizza brand based on the principle of “Better ingredients, better pizza” (Cendrowski, 2009). Since the inception of the company, Papa John’s has developed a strong quality claim and devote consumer base taking the company from small beginnings to the third largest pizza chain in the United States (Brandau, 2009). As a leader, Mr. Schnatter believes in hard work and demands his employees produce a superior product. According to the Papa John’s website, Schnatter developed six core principles every employee from the lowest level on up must memorize and repeat daily (2011). The core principles are: Focus-Constantly deliver a superior Papa John’s pizza; Accountability-Do what we say we are going to do, and do it; Superiority-Demand “Best in-class” at everything you do; P.A.P.A (People are priority always)-Our success depends on how well...
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...ASSIGNMENT #1: ENTREPRENEURIAL LEADERSHIP Introduction This paper analyzes and describes the founding leaders, their leadership styles, and major business principles. It also describes founding leaders with profit orientated and social responsibility orientated approaches. Finally, it gives resources or tools available through Small Business Administration (SBA) and Service Corps of Retired Executive (SCORE) that would be most useful to the type of entrepreneurial approach identified with. Founding Leaders, Leadership Styles and Major Business Principles In the profit oriented leadership style, in which the primary goal is to provide a product or service to consumers and to make a profit, the founding leader is Adam Smith. Adam Smith is identified as the father of capitalism. His leadership style is based on the capitalist model of Laissez Faire. Laissez-Faire leadership style is a non-authoritarian leadership style. Laissez faire leaders try to give the least possible guidance to subordinates, and try to achieve control through less obvious means. Capitalism is an economic system in which the primary motive is to make a profit with little or no regards for the welfare of the population. For example Adam Smith said, “Nobody but a beggar chooses to depend chiefly upon the benevolence of his fellow-citizens. Even a beggar does not depend upon it entirely” (Smith, 2005, p.18). Adam Smith described the concept of capitalism in his book, The Wealth of Nations, published...
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