Entrepreneurial Leadership

Entrepreneurial Leadership

Introduction

Leadership is yielding influence over others with the purpose of achieving a common goal. A business needs effective leaders in order to succeed. A leader who understands the challenges of the rapidly changing global environment can lead his company to success. The leadership style of an entrepreneur has an impact on the organizational development and performance (Fernald, et al., 2005). With the world having changed into an entrepreneurial economy, more and more new business come up and become successful by focusing on an untapped market niche (Fl?istad, 1991). Entrepreneurship is encouraged for the purpose that it leads to economic development (Tarabishy, et al., 2005).

Discussion

Ethical and Social Responsibilities of Business

Entrepreneurial organizations have a different structure than the conventional organizations. Thus, they have an entirely different ethical climate. Entrepreneurships have a greater resource scarcity and face more threats in business environments (Jones & Crompton, 2009). Consequentially, a lot of new entrepreneurial ventures are profit maximization oriented. The lack of a strict formal structure emphasizes on the leader's abilities to take decisions that would result in business effectiveness (Darling & Beebe, 2007).

Then, during the initial stages the entrepreneurs decide to keep their business model purely profit-oriented in order to survive. Driven by innovation and high risk-reward tradeoff, most entrepreneurs are characterized as autonomous, innovative, and aggressive leaders whose purpose is revenue generation and profit maximization (Neubaum, et al., 2004).

Profit Oriented Entrepreneurial Approach

Profit oriented entrepreneurship can lead to success in today's dynamic business market. This type of entrepreneurship is ventured upon for financial gains. However, that is not to say that these businesses are devoid of corporate social responsibility. Entrepreneurship based on profit-orientation creates an economic value as the prime concern of business entrepreneurship.

Leadership Style

He had a great motivational power, which he used to inspire his employees towards achievement of excellence. Jobs had a remarkable penchant for corporate development. He was a role model for his employees because of his passion for learning and development and relentless innovation.

Jobs established a business model where expansion and advancement was highly encouraged. He believed in growth and development of his employees as imperatives to driving business success. Moreover, Steve Jobs was a visionary leader who knew what strategic course to take the company in order to ensure its continuous success (Erve, 2004).

Business Principles

Jobs initiated a niche-nurturing business stage. He was behind the development of Apple through his innovative product ideas. He led his employees by setting an example of hard work and perseverance himself and fostered a work environment where creative people could flourish.

Steve Jobs had an inspirational personality, which made it easier for him to put into practice his directive style. He engendered self-confidence and conviction in his employees to enable them to deal with crisis effectively. He had very strong negotiation skills and believed in dealing with problems through discussion so that appositive result could be achieved (Erve, 2004).

Social Responsibility Oriented Entrepreneurial Approach

Social entrepreneurship is a business venture established with the aim to provide social benefit. However, that does not mean that all social ...