Leadership in Entrepreneurship:

Leadership in Entrepreneurship:

Introduction                                                        

Leadership requires the five functional tasks that every leader must be committed to achieving. The roles include planning, staffing, controlling, leading, and organizing. The values make a leader, by the necessary task they need to perform in running the companies (Stokes, David, Nicholas Wilson & Nick, 45-98). However, fruitful and entrepreneurial managers are the ones that go beyond the primary responsibilities of management. Successful managers go a long way in creating something where nothing existed. They take upon themselves the risky role of leading their subordinates to unknown destinations and take the task of building the structure where none existed. It is not the obvious skills of a manager that make them successful. Exquisite managers, according to Stokes, David, Nicholas Wilson and Nick Wilson (67-87) go beyond the designated role meant for every manager in following their dreams, some of which they are not sure of, to finally bring the firm the success it has always waited for. Consequently, this brings us to the factors that make an entrepreneurial leader successful. The paper focuses on the factors necessary to every leader to help realize their success in entrepreneurship. A keen follows up of the factors is the stepping stone of every leader to their greatness.

 

Pragmatism

Successful leaders are pragmatic, that is, they believe in norms that are applicable in the real working situations of their companies, rather than the theoretical ideas that are of little use to the firms. Subtly, for a manager to attain their goals, they have to follow only those ideas that are workable. Such ideas should apply to the working of the firm. The world is full of managers that are very focused in using their creativity works in the operation of their corporations. Consequently, the firm belief that these practices will succeed makes them forget the probabilities of their failure, as Ireland et al., (21-45) notes. Pragmatic managers often build competent business models which attract exquisite workers, beat deadlines and create essential opportunities which finally lead to their success. Look at Nikhil Sethi, for example. The level of dissatisfaction and the belief in the useful techniques were key to inventing and ensuring the success.

Humility

Another factor that makes competent leaders is humility. Great leaders are the first to admit their mistakes. Everyone knows the mistakes they make. However, some individuals choose not to recognize it when they commit mistakes. Obviously, no one is perfect and making mistakes does not make anyone less human. Admitting to mistakes made gives room for correction. It is this correction that makes the distance between success and failure. The correction did works in the favor of the leaders that accept their shortcomings. Humble leaders learn a lot from their subordinates, fellow administrators, and anyone else they come across (Ireland et al., 65-86)

The little lessons they pick along the way are the ones that help them learn more about ways of making their firms better. Such small changes on the businesses, usually determined because of being humble, are the ones responsible for the success of the companies. Successful managers perceive mistakes as challenges which they purpose to overcome, and not chances to keep shifting the blame. Considering the success of Richard Branson, the founder of Virgin Atlantic, the humility and the ability to accept correction was key to building one of the greatest firms in the world today (Ireland et al., 31-65).

Flexibility

Dynamic leaders make successful managers. The mere fact that they passionately adapt to the changes in the various conditions in the business world is the primary motive behind their success. For instance, Bo Peabody altered the business model of his Tripod Company within a short spell of time from offering advice to graduates from colleges to allowing individuals create websites of their own at a time when such an initiative existed nowhere else (Ireland et al., 21-54)

Contrarily, being adamant on the current models and situations can also result in great success, especially when there are several forces that push you to make certain changes in the working of the company. Therefore, flexibility as a factor in ensuring the success of a business is a critical issue. Hence, the proper knowledge of the time to adapt and that when not to is the best option under such circumstances and an equally important factor in ensuring the success of a firm. Notably, the decisiveness of a manager to discern conditions that call for adoption and those that do not is what accounts for the difference in fruitful and unsuccessful managers (Ireland et al., 65-87).

Authenticity

Being authentic, or rather real, as Stokes et al., (31-48) accolades, is one of the qualities of a successful manager, or one of the factors that contributed to the success of a manager. Most of the management criteria will always advocate that the manager conceals their weaknesses from their employees. It has been a common practice over the years that leaders only exhibit their strengths, with the flaws hidden. However, things have changed a great deal because the openness and realness of the leaders are what steers the companies forward, resulting in substantial achievements. By this, I imply that the managers must expose both their strengths and weaknesses.

Consequently, the subordinates will respond in a similar manner, showing their merits and demerits. A company where everyone is real is destined to achieve a lot because of the authenticity in the way of working of the corporation. For instance, it is this realness with himself that ensured the success of Colonel David Sanders, the founder of KFC. It is the acceptance of oneself that saw him use his experience as a cook at a hotel to build of the largest eatery firms in the world at the moment (Stokes et al., 43-67).

 Reinvention

An exquisite entrepreneur replenishes their styles of leadership, refreshing themselves as time goes by. Failure to do so will make the managers adamant to change, which as we know is inevitable. Just like dynamic leaders, replenished managers are those that reinvent themselves and probably the whole of their subordinates. Notably, there are several ways of replacing the company’s labor force. Such approaches are taken by leaders who are fast to discern where their loopholes lie and gain access to the available resources in the effort to close the gap. A successful leader is that who incorporates among other aspects the continued education of themselves and their subordinates. Moreover, an exemplary company library, coaching, empowerment and industrial conferences, and mentoring are just some other few factors that are implemented by managers to attain success in their businesses. This can be related to the success of Bill Gates, the founder of Microsoft (Stokes et al., 76-89).

Awareness

For any manager to be successful, they must be aware of themselves. They need to spend much time go further to learn the people around them, especially their mates and subordinates. Doing so gives them the ability to compensate for their weakness and allow their merits to shine upon their workmates (Teece, David, Pisano and Amy Shuen, 45-76). It takes a substantial level of awareness to lead a team, especially that consisting of professionals. Through this, they learn the customer trends and design ways in satisfying the wants and needs of the customers, while at the same time maximizing the profits they make from the activities of the firm (Stokes et al., 34-78).

Moreover, this healthy level of awareness helps the individual’s secure crucial rounds of the funding the firm is so much in need of. Besides, it helps managers evaluate the amount of space they occupy and how they can change the workplace by simply being present. Engaging and evaluating such aspects goes a long way in ensuring the success of the managers as well as the corporations they are in charge of (Teece, David, Pisano & Shuen, 45-65). For instance, Patrick Awuah, the present president of Ashesi University in Ghana, worked diligently as a manager at Microsoft. Unlike other entrepreneurs, he was noiseless but the consistent. He took notice of the little opportunities invisible to many other directors. Such an extent of awareness was responsible for the success he achieved at Microsoft (Stokes et al., 56-89).

 Conclusion

In a nutshell, success does not come to a manager who virtually plans, leads, controls, staffs, and organizes the working of their company. A successful leader and especially an entrepreneur, is a risk taker. The individuals believe in things others find unreasonable and go a long way in achieving them. However, the personalities must be patient, be faithful to themselves and to those people they work with. Such leaders should be discontented with the little success they achieve so they can aim for greater achievements. It is the thirst for more that makes great and successful entrepreneurial leaders. 

Works cited

Stokes, David, Nicholas Wilson, and Nick Wilson. Small business management and

Entrepreneurship. Cengage Learning EMEA, 2010.

Ireland, R. Duane, et al. “Integrating entrepreneurship and strategic management actions to

Create firm wealth.” The Academy of Management Executive 15.1 (2001): 49-63.

Teece, David J., Gary Pisano, and Amy Shuen. “Dynamic capabilities and strategic

Management.” Strategic management journal (1997): 509-533.

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