Entrepreneurial Leadership
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Entrepreneurial Leadership
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 todays Dynamic Markets. In Case, Kouzes, and Drucker, each one acknowledges that in order to build a successful business, a good strategy plan is vital. The common elements described are vision, creativity, communication, people, perservance, passion, enabling others to act, encouraging the heart, persistence, and creativity. However, I will address just a few of them.
The first common element is vision. “Entrepreneurs begin with a vision, an overall idea for how to make their business idea a success, and then they passionately pursue it (Boone, 2011, p. 192). As stated “the two young engineers who started the Apple computer-in the proverbial garage and without financial backers or previous business experience-aimed from the beginning at creating an industry and dominating it” (Drucker, 1985).
Another common element is creativity. As stated, “Entrepreneurs typically conceive new ideas for goods and services, and the devise innovative ways to overcome difficult problems and situations” (Boone, 2011), p. 195). As stated the “Fustest with the Mostest” must aim at creating something truly new and different, non-experts and outsiders seem to do as well as “experts,” in fact, often better” (Drucker, 1985, p. 11).
In the podcast, Former AOL CEO and Chairman Steve Case talks about principles/strategies of people, passion, and perseverance. Steve Case believes that when the three parts are in place, then success is achieved. In the podcast of James Kouzes, five principles/strategies are mention in order to be successful. Kouze believes that an entrepreneur should model the way by setting examples for others, inspired a shared vision, challenge the process, enable others to act, and encourage the heart. In the article of Peter Drucker, he believes that an entrepreneur should aim at “Being “Fustest with the Mostest”. This is a strategy that requires an entrepreneur to aim at leadership, and dominance, use creative imitation, such as entrepreneurial judo, aim at controlling the situation, and aim to create a customer. Our new definition of entrepreneurial leadership is, “an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities” (Tarabishy, Lloyd, and Solomon, 2003, p 5). As stated “The entrepreneur part of entrepreneurial leadership is the ability to recognize opportunities in a dynamic market” (Tarabishy, Lloyd, and Solomon, 2003, p 5).
Discuss your leadership style or the style you aspire to be and how it compares to transactional, transformation, visionary,