Entrepreneurial

In: Business and Management

Submitted By hillawrig
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Entrepreneurial Leadership

Hillary Wright

The Business Enterprise – BUS 508
Instructor Dr. Jennifer Fleming
April 22, 2011
Introduction
In the ever-changing world that we live in today, it is important now more than ever for organizations to not only have the best product or service but also to diversify the dynamics of their organization through increased innovation and competitiveness. To be successful in this new age of business, business leaders must emerge ready to lead organizations that face these challenges and uncertainty in multiple dynamic markets (McGrath and MacMillan, 2000). These new types of business leaders are coming to be known as “entrepreneurial leaders.” These leaders are expected to be familiar with the common elements of different theories and philosophies as they relate to the new definition of entrepreneurial leadership along with being able to compare the dimensions of leadership styles within certain organizations. As entrepreneurs, they are privy to a wealth of knowledge, tools and resources that can be obtained from the Small Business Administration (SBA) and the website SCORE. Entrepreneurs are able to use this information to gain an advantage at the start-up of their new business.
Hybrid Theory/Philosophy
When defining entrepreneurial leadership, it is most widely viewed as a complex style of leading that helps develop and sustain elements of the organizational culture (Bergstrom , 2004). Individuals who practice this style are generally driven, aggressive risk takers and able to recognize when change will give the advantage. Peter Drucker (1985) discusses several strategies of entrepreneurs that aim for leadership and/or dominance of a new or existing market, finding and occupying a specialized niche, and changing the economic characteristics of a product, market, or industry. With Drucker, entrepreneurs are looking to…...

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