Subject: Strategic Entrepreneurship
Assignment on: Leadership as most defining characteristics of entrepreneurship
Submitted to: Jonas Gabrielsson
Submitted by: Aditi Chauhan
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 a profit. Entrepreneurship has many characteristics like motivation, leadership, creativity, innovation, risk tolerance, visionary, flexibility, and open-mindedness. But from my point of view leadership is the main important characteristics of Entrepreneurship. Leadership is a function which is important at all level of management. Not all Entrepreneurs are equal; some are the better leader than others. Often Entrepreneurs follow their passion for an idea to understand they need to sharpen their leadership capabilities.
A leader is the representative of the Organization. They have a futuristic vision and have a good command on communication. They always support and guide the employee to achieve the organizational goal. They have the ability to create an enjoyable work environment that motivates the others to grow and thrive. In Entrepreneurship, they act in an honest manner and generally shared their success with others.
In Entrepreneurship, leadership positively affects the productivity and performance of organization by making positive occurrences in the life of organizational associate. They also entitle organizational culture in order to produce long-term thinking and successful outcomes through different aspects such as decision- making processes, employee turnover and the versatility of a company to change. Leadership can be an evolutionary process. A business owner who provides leadership can transform and employee from workers to a valuable team member. Larger business organization can suffer from too many individuals trying to make a 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 importance of teamwork, how to inspire and energize their team member and how to comprise the skills of every member. They improved the skills of an individual in the company through adequate training that helps everyone to handle the responsibility at efficient way. A good leader never dithers to admit when he/she has failed to meet obligations and duties. They focus on the solution. They don’t criticize others when something goes wrong. Leaders also learn from their mistake and take accountability for the mistake.