ESBM MBA 2E05
Entrepreneurial Leadership
Introduction
Market environment across world is becoming complex due to consistent change in technology, competition and changing customer needs & preferences.
Responding to these dynamics, organisations are striving to develop the capabilities by which they can continuously anticipate the change, to serve consumers and remain agile and profitable in long run.
An entrepreneur is a person who starts a business or launch a venture while creating value to consumers and bearing the risk of managing enterprise.
Entrepreneurship and Leadership are two distinct yet inextricable pursuit at organizational level.
Continued
Entrepreneurial leader take initiatives, executes innovative ideas, taking responsibility and carry on activities to attain long term objectives through his team, to achieve desired goals.
So, the role of effective entrepreneurial leadership becomes the core for organizational success an important in ensuring that organisations adapt quickly to changes in today’s fast moving global economy.
“Leadership is hard to define and good leadership even harder. But if you can get people to follow you to the ends of the earth, you are a great leader”.
- Indra Nooyi
https://www.cnbc.com/2018/10/02/pepsico-ceo-indra-nooyis-last-day-5-habits-that-drove-her-success.html
What is Entrepreneurial leadership?
Definition
“Entrepreneurial Leadership is organizing a group of people to achieve a common goal using proactive entrepreneurial behaviour by optimising risk, innovating to take advantage of opportunities, taking personal responsibilities and managing change within a dynamic environment for the benefiting the organization.” – Chris Roebuck, expert on transformational leadership
Optimising risk – taking calculated risk instead of minimizing the same to leverage
Innovating - consistent innovation or developing an scalable idea for converting problems into feasible business opportunities
Taking personal responsibilities - being accountable for own decisions
Managing change – The ability to adapt to new situations;
a willingness to change.
Entrepreneurial leadership is set of following different personal attributes, leading to create a path for the organisational success:
Ability to anticipate the market
Adaptability
Envision
Flexibility
Strategic Thinking
Sync with others to make the system vibrant
Inspiring people with clear vision
JRD Tata is among few iconic Entrepreneurial Leaders in Business world.
Under his stewardship TATA Conglomerate grew to 95 enterprises from 14 firms with strong international brand.
The recipient of Bharat Ratna for exceptional services.
Steve Jobs
The man behind extraordinary success of Apple Computers, one of the most transformative companies today.
Steve Jobs co-founded Apple but left in 1985, rejoined it in 1997 when company was worth $100 Mn and it was on the brink of bankruptcy.
He restructured the organization and introduced iMac, recorded huge success with sale of 800,000 units sold initially.
Good entrepreneurial leaders care about their organisations and their people, ensuring balance working closely with their staff whilst maintaining a leadership role.
For example, they need to be friendly, approachable and treat subordinates like equals whilst remaining sufficiently distant to exert authority.
How do Entrepreneurial leaders achieve results
To harness the potential, Leaders encourage team members to be creative and to find their own solutions to problems.
They do not impose their decisions rather Leaders empower the team to make decisions based on the consensus.
Consistent mentoring and supervising of young managers and peers.
The authority of entrepreneurial leaders does not come from the position they are given, but from their expertise and values.
Team members trust the leader’s judgement and the leadership must be respected by the team.
Conclusion
Entrepreneurship and Leadership are inseparable at organizational level.
When Entrepreneurship and Leadership fall in place with the right approach, it can immensely benefit business.
Inspiring Entrepreneurial leadership exhibits confidence among the team members and yields for a vibrant and dynamic organizational environment.
Qualities of good leader – JRD Tata
https://www.youtube.com/watch?v=5F1_EyJ_DRk
Steve Jobs Leadership Skills Breakdown - How To Motivate People https://www.youtube.com/watch?v=dVLERJ5IdrA
References
https://hbr.org/2012/04/the-real-leadership-lessons-of-steve-jobs
https://www.tata.com/about-us/tata-group-our-heritage/tata-titans/jrd-tata https://apple-history.com/imac
https://www.entrepreneur.com/article/197538
https://www.cnbc.com/2017/09/13/how-apples-success-can-be-traced-to-steve-jobs.html
https://www.fool.com/investing/2016/11/19/9-indra-nooyi-quotes-on-leadership-diversity-and-b.aspx
https://smallbusinesscharter.org/business-advice/entrepreneurial-leadership/
