...What Makes a Good Entrepreneurial Leader? Ask Middle Managers: Knowledge@Wharton ( http://knowledge.wharton.upenn.edu/article.cfm?articleid=347) What Makes a Good Entrepreneurial Leader? Ask Middle Managers Published : April 25, 2001 in Knowledge@Wharton According to a recent Industry Standard article, the highly successful entrepreneur John Peters, now CEO of broadband service provider Sigma Networks, characterizes himself as a "serial entrepreneur" who tends to spend about four years on each of his startups. "I just thrive on the uncertainty, the challenge and the creativity of starting a company. I like the blank piece of paper." It’s no surprise that Peters, and other entrepreneurs like him, crave new beginnings, risk and change. Indeed, those characteristics almost define the breed. But according to a paper by Vipin Gupta, management professor at Fordham, and Ian C. MacMillan, director of Wharton’s Sol C. Snider Entrepreneurial Center, entrepreneurs aren’t the only ones who should be able to embrace the challenge of that "blank piece of paper." In their analysis, Entrepreneurial Leadership: Developing a Cross-Cultural Construct, Gupta and MacMillan use a term coined by MacMillan - "entrepreneurial leader" - to encapsulate the style they believe today’s managers must cultivate. They outline the qualities of an entrepreneurial leader and back up their assertions using a 60-society survey of middle managers around the globe. The survey suggests that a majority of businesspeople...
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...PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Continual Paradigm Shifts in Entrepreneurial Leadership Barbara Gilley Professor Daniel Frost BUS508013VA016-1116-00: Strayer University July 17, 2011 CONTINUAL PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Pg.2 ABSTRACT This paper will focus on Creating a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker, including the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets, and will describe what type of organization a transactional, transformational, and authentic leader would thrive in the most, as well as which type of leader would thrive the least, as well as, evaluating the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses; a rationale will be explained. This paper will evaluate the resources and tools available through the Small Business Administration and SCORE, and determine which single resource or tool is most useful to the greatest number of businesses and a rationale will be explained; and this paper will create a list of leadership best practices that would apply to the greatest number of businesses both small and large, and a rationale will be explained. CONTINUAL PARADIGM SHIFTS IN ENTREPRENEURIAL LEADERSHIP Pg. 3 OUTLINE ...
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...Entrepreneurial Leadership BUS 508 10/21/10 Entrepreneurial Leadership There is a new definition of entrepreneurial leadership that has evolved over time and this paper will examine that evolution as it relates to some business leaders of our time. It will look at the theories of some of those leaders like Steve Case, former Chairman of AOL, and James Kouzes, co-author of The Leadership Strategies and also Peter Drucker. Also this paper will discuss my leadership style and the principles of it as well as what tools and resources that I would use through the Small Business Administration as a new entrepreneur. 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. One of the common elements that is described in the theories of Case, Kouzes, and Drucker is discovering what drives the motivation of the people under one’s leadership. Steve Case discussed in a lecture at Stanford University on February 24, 2010 about People, Passion, and Perseverance. He talked about that the leaders of AOL and Time Warner had not discovered their people before their merger which in turn allowed culture clashes when the two companies merged. The people that had been more innovative in the past became more corporate which aided in the downfall of the company. (Case 2010) In essence he was stating that if you know...
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...IDENTIFYING ENTREPRENEURIAL LEADERS IN TODAY’S DYNAMIC MARKETS Ayman Tarabishy, Doctoral Student, The George Washington University 2115 G St. N.W. Suite 403 Washington DC 20052 USA Tel: +1 (202)-468-3133 Fax: +1 202 994-4930 E-mail: Ayman@gwu.edu Lloyd Fernald, University of Central Florida Abstract Organizations regardless of size and industry now exist in the competitive landscape. This landscape is characterized by 1) increasing business risk, 2) decreasing ability to forecast, 3) fluid organizational and industrial boundaries, and 4) a managerial mind-set that demands unlearning many traditional management practices. Researchers and practitioners have proposed that organizations with an entrepreneurial strategic posture will be able to compete in such dynamic markets. Researchers and practitioners have also called for a new type of person to lead these organizations in the new dynamic market arena. They have coined this new person as the “entrepreneurial leader.” This paper will offer an operational definition of the term “entrepreneurial leader” based on the conceptual literature in leadership, entrepreneurship and the results of a pilot study. Executive Summary This paper attempts to explain that today’s markets can be best described as dynamic in nature. Regardless if the organization is established or a new venture they need to be able to deal with a dynamic market that is primarily revolutionary rather than evolutionary in nature. Researchers and practitioners have proposed...
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...Entrepreneurship Leadership Abstract The purpose of this paper is to inform about the common elements found in the thinking of Case, Kouzes, and Drucker about the entrepreneurial. Include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Describe what type of organization a transactional, transformational, and authentic leader would thrive in the most, as well as which type of leader would thrive the least. Evaluate and explain the resources available through Small Business Administration (SBA) and SCORE, and how new entrepreneurs can take advantage of these. Also include a list of leadership “best practices” according with the author of this paper that would apply to the greatest small and large business. Entrepreneurship Leadership Entrepreneurship leadership is defined as a social influence process that facilitates the discovery, evaluation, and also the exploitation of entrepreneurial opportunities. Entrepreneurship as a concept is a symbiotic bond between the creation of a new venture and playing the role of entrepreneurship as a leader-founder. The main idea presented in all the sources points out on the fact whether a leader is made or born. Entrepreneurship in the past research and studies was based on trait theory and the focus was only on the individual. However, Kouzes pointed out that leadership as a whole fails if the leader does not understand the people they work along...
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...Entrepreneurial Leaders Tamekia L. Johnson Dr. Frederick Onwosu Strayer University BUS 508 Contemporary Business July 13, 2011 Abstract The purpose of this paper is to discuss the common elements in the theories/ philosophies of Steve Case, James Kouzes, and Peter Drucker on entrepreneurial leadership compared to the new definition according to the arguments presented in Understanding Entrepreneurial Leadership in Today’s Dynamic Markets. The paper will describe what type of organization a transactional, transformational, and authentic leader would thrive in the most and least work place. In addition, it will discuss how the tools and resources provided by the Small Business Administration and SCORE. Lastly it will briefly list leaderships that would apply to the greatest number of businesses. Leading people effectively is a tremendous challenge, a great opportunity, and a serious responsibility. Today’s organizations need effective leaders who understand the complexities of our ever changing global environment. These leaders are people who have the intelligence, sensitivity, and ability to empathize with others. A leader is one who can motivate their followers to strive for excellence. Leadership is the process of developing ideas and a vision, living by values that support those ideas and that vision, influencing others to embrace them in their own behaviors, and making hard decisions about human and other resources, (Hellriegel and Slocum 2011)...
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...was a humble and modest leader who was close to his employees. His leadership style and major business principals were popular among his employees and is still in use today. Sam Walton believed in sticking to fundamental values instead of following fads or the style of others. He learned from his competitors while doing things his own way. Instead of following money, he followed his passion which was to get better and better at retail. Sam had a passion for retail and believed in having a good time while working hard. He was enthusiastic about his retail business because he loved it so much. His belief was if you loved your job that you would always do your best at it. He was an optimistic leader who never gave up, wasn’t afraid to take risks, and was constantly trying to improve and expand the way that he ran his business. Employees of Wal-Mart were treated as business partners because Sam Walton believed if his employees were happy that his customers would also be happy and would enjoy shopping in his stores. Sam offered stock options to his employees at a discount because he valued them as his business partners and he wanted them to know that they were directly involved in the success of the business. Introduction This paper aim at analyzing the concept of entrepreneurial leadership .Before starting our analysis, two important concepts need to be addressed: Leadership and Entrepreneurship. Leadership is directing or inspiring people to attain organizational goals (Boone...
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...Assessment#1- Analysis of Understanding Entrepreneurial Leadership in Today’s Dynamic Markets fobjbdema BUS508 - Business Entreprise Dr.ddddddddd 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. In discussing the new definitions entrepreneurial leadership as presented in “Understanding Entrepreneurial Leadership in Today’s Dynamic Market its probably best to describe the climate or environment which is often illustrated as one that is dynamic market , uncertain or a very competitive market which requires innovative thinking. In this type of market the fluidity, energy, motion, constancy and ubiquitousness of changes in the market occur very frequently and head to head competition between firms is common place and the pace, magnitude and direction of change is continuously accelerated and harder to predict. Teece, Pisano and Shuen (1997) as referenced by Fernald and Solomon in their paper, described today’s dynamic Schumpeterian world of innovation–based competition, price /performance rivalry, increasing returns and the ‘creative destruction of existing compeitencies.”(p.509) "creative destruction" was popularized by and is most associated with Joseph Schumpeter, particularly in his book Capitalism, Socialism and Democracy, first...
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...This paper aim at analyzing the concept of entrepreneurial leadership .Before starting our analysis, two important concepts need to be addressed: Leadership and Entrepreneurship. Leadership is directing or inspiring people to attain organizational goals (Boone and Kurtz, 2011). An entrepreneur is a person 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...
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...The three pillars of GCUs College of Business are Entrepreneurial Spirit, Innovation and Servant Leadership. These are three key characteristics that are critical in building a strong foundation for students to succeed in their professional growth and in business. This paper reviews each of these pillars and how they apply personally to my work environment and career development. Entrepreneurial Spirit The entrepreneurial spirit is composed of multiple characteristics including but not limited to passion, vision, creativity, autonomy, and risk-taking. Possessing an entrepreneurial spirit is an important quality not just for individual success but for that of a business as well. For a business to maintain growth and sustainability it must maintain core competencies and have an entrepreneurial value system that it sticks to (Chaifetz, 2010). Chaifetz (2010), discusses how his company encourages the entrepreneurial spirit amongst his employees to be innovative and challenges them to think of new ideas. As his company has grown it has not fallen subject to common problems such as inflexibility, bureaucracy, and standardization that are often seen when companies expand. In fact, the approach is taken to provide employees with the tools and resources necessary to implement innovative ideas and tailor services for their customers. Not only does this method add to the entrepreneurial culture in the company it also lends to enhanced customer service directly impacting its success. I...
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...Describing Each of the Three Pillars of the College of Business Servant Leadership, Entrepreneurial Spirit, and Innovation Georgianna UNV/504 Jonathan Kelley February 3, 2015 Describing Each of the Three Pillars of the College of Business Servant Leadership, Entrepreneurial Spirit, and Innovation The contents of leadership have become a significant element in many platforms, especially when it relates to the three pillars of the college of business. Leadership skills can be detrimental to a business if not properly used. Many times business have allowed leadership to be abused and when that happens the business suffers majorly. The purpose of this paper is to articulate and describe each of the three pillars of the college of business. The three pillars of college of business are servant leadership, entrepreneurial spirit, and innovation. Servant Leadership In a 750-1,000-word essay, describe each of the three pillars of the College of Business (servant leadership, entrepreneurial spirit, and innovation). Discuss your findings from the articles you found about the three pillars in the "Reference List Table" assignment in Topic 3. Be sure to include a discussion of the way you will apply each of these pillars in your career or industry. Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required. This assignment requires a minimum of 3 scholarly sources. This assignment...
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...Governance and strategic leadership in entrepreneurial firms. Journal of Management, Vol. 28(3): pp 387-412. Domain: The general domain is firm performance and the specific domain is the correlation between firm performance and entrepreneurial strategic leadership. Theoretical Framework: The authors of this article attempted to demonstrate the dependence of firm performance in an entrepreneurial firm with respect to the strategic leadership of various positions. That is to say they looked at the CEO, top management teams, board of directors and venture capitalists to determine how they can affect a firm’s performance. They further broke these relationships down to certain aspects of each that might vary the outcome. An example would be the demographic differences of top management teams such as educational differences, tenure, and position. The expected outcome from this study would be that the more intertwined and power that the position has, the greater the influence on a firm’s performance they would have. The argument here is that in an entrepreneurial firm, these strategic leaders are more capable of influencing performance than in larger, more mature firms. The authors attempt to determine if this argument holds true. Major Contributions: The attempt by the authors to determine if these varying “positions of power” have a positive or negative influence on an entrepreneurial firm’s performance is the main focus of the paper. They begin by defining...
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...risk for the sake of potential return (Mariotti & Glackin, 2012). The entrepreneur is an innovator who brings about change through the introduction of new technological processes or products, and thus, through innovation, the entrepreneur is a “deliberate wrecker of equilibrium.” Successful entrepreneurship is associated with a high degree of practical intelligence, creative abilities, and business talent, characteristics which Shavinina (2006) refers to as “entrepreneurial giftedness” (p. 225)--talented individuals who exceptionally succeeded in business by creating new ventures. According to Darling, Gabrielsson, and Seristo (2007), entrepreneurial management leadership is all about “breaking new ground, going beyond the known, and helping to create the future.” Also, entrepreneurial management leadership is about helping people settle into new opportunities that give them joy and hope for the future. The keys to entrepreneurial success are not intelligence, education, lifestyle or background. Rather, entrepreneurial success is determined, in most part, by the entrepreneur’s “ability to effectively deal with opportunities through the dynamics of an organizational setting, thereby enabling the people concerned to be actively and enthusiastically involved and successful” (Darling, et al., 2007). Therefore, successful entrepreneurs are those who strive to establish a conducive environment that is supportive of associates and...
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...The past thirty years have witnessed the most powerful emergence of entrepreneurial activity in the world. Entrepreneurs are now described as aggressive catalysts for change in the world of business; individuals who recognize opportunities where others see chaos, contradiction, or confusion. They have been compared to Olympic athletes challenging themselves to break new barriers, to longdistance runners dealing with the agony of the miles, to symphony orchestra conductors who balance the different skills and sounds into a cohesive whole, or to top-gun pilots who continually push the envelope of speed and daring. The U.S. economy has been revitalized because of the efforts of entrepreneurs, and the world has turned now to free enterprise as a model for economic development. The passion and drive of entrepreneurs move the world of business forward as they challenge the unknown and continuously create the future (Kuratko, 2002). Several methods have been used to measure the impact of entrepreneurial ventures on the economy—for example, efforts to start a firm (which may not be successful), incorporation of a firm (which may never go into business), changes in net tax returns filed (reflecting new filings minus filings no longer received), and a substantial amount of full-time and part-time self-employment. According to the Small Business Administration, 672,000 new businesses were created in 2005; the largest in US history (even 12% higher than the...
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...Running head: Entrepreneurial Leadership Entrepreneurial Leadership Heather Tanenbaum Alicia Luna BUS508116VA016-1118-001 October 23, 2011 Abstract Today’s entrepreneurs can learn how to profit and be social responsibility by studying the leading entrepreneurs of the past. In this paper we will learn Thomas Edison’s and Blake Mycoskie’s leadership style, and major business principles for a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit. Also their major business principles for a social-responsibility oriented entrepreneurial approach in which the primary is goal to make a positive impact on society (people, families, ecology, or similar) while providing a product or service to consumers and to make a profit. This paper will also show what three resources or tools available through the Small Business Administration and SCORE would be the most useful. Profit-oriented entrepreneurial Thomas Edison is well known for three main inventions. Those being the light bulb, the phonograph, and the X-ray but the invention he profited from you may have never even heard about. In 1874, Edison invented the quadruplex telegraph, which allowed the transmission of two signals in each direction down one wire. He sold this invention to Western Union for the sum of $10,000 which was a large sum at that time. He used this money to create a work space to work on his other inventions...
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