Entrepreneurial Leadership in the 21st Century
A Hybrid Theory/Philosophy of Entrepreneurial Leadership
With changes in society’s, economies, and the widespread growth of technology, entrepreneurship and leadership have both grown to take on many different definitions over the past century. Economists and behaviorists have conducted numerous studies and researches over the past fifteen years, and new definitions of entrepreneurial leadership have been formed. They include characteristics such as; innovators, risk takers, transformational, visionaries, problem solvers; and having the ability to operate in dynamic markets.
While the aforementioned characteristics of entrepreneurial ...view middle of the document...
A transformational leader is one that possesses good vision, management skills, and motivates followers to work for goals beyond self-interest. He/she would thrive in an organization involved with research and development, but would struggle in an environment where innovation is not needed or where advancement is very limited. Authentic leaders are honest, open and real to others and themselves. They have high values, morals, and ethics, and are inspirational motivators. An authentic leader would excel in organizations where security and trade secrets are important, but would struggle with self in an organization that was only interested in revenue and spared no means in obtaining success.
Best Tool for Entrepreneurs
Entrepreneurs have a plethora of resources at their disposal, with the Small Business Administration (SBA) and SCORE being probably two of the most important. The SBA provides assistance to small businesses by way of financial, entrepreneurial development, government contracting, and by being the voice for Small Businesses. It realizes that small businesses are important to economic growth, and they provide services throughout the United States, Puerto Rico, the U.S. Virgin Islands, and Guam. I feel that their most impactful resource tool is financial funding.
SCORE is America’s leader in providing free and confidential advice to entrepreneurs, and is a resource partner with the SBA. Their advice can come in the form of workshops, templates, quizzes, all aimed at helping small businesses get started, grow, and succeed. They also provide mentors for those businesses that require or need assistance. They help almost 20,000 businesses annually. I feel that their most impactful tool is the many workshops that they offer. These can be on starting, growing, and marketing a business, as well as managing finances. They can be invaluable workshops for young entrepreneurs.
Leadership Best Practices
For a business to compete and succeed at its’ most...