Entrepreneurial Leadership Essay Example | Topics and Well Written Essays - 1000 words

Entrepreneurial Leadership - Essay Example matter (2010) identifies three Ps (people, passion and persistence) as the key ingredients of a successful entrepreneurship. He tell that the presence or absence of the three Ps in the right mix bay window lead to success or failure as an entrepreneur. His successful steering of AOL has been contributed to these 3 Ps by him (Case, 2010). However, the failure of merger of AOL with cartridge clip Warner was a result of incorrect focus on the 3 Ps. The merger resulted in cultural clash of employees and hence they were focused on their personal issues or else than the innovations. The passion that was earlier present in AOL employees was lost in the huge merged enterprise and at long last perseverance was hit hard because people lost their belief in internet and they stopped place in innovation. Another thing lacking in the deal was slew execution. A immense idea rebounded because the 3 Ps were not rightly focused on executing the visio n (Case, 2010). Kouzes (2008) talks about five leadership practices which help in motivating people to perform at their best. Thus, he also focused on people and showed how great leaders inspire them to arouse perseverance and passion in them. The five principles are having a clear vision of what is required so that the employees commiserate what is expected of them and they move accordingly, setting example by doing what is being preached, challenging the current state of affairs as status quo never inspires people to perform at their best, enabling others to act in declension with the vision by understanding the motivation factors of a team or individual and encouraging the affection by rewarding exemplary performance (Kouzes, 2008). Drucker (2007) distinguishes between entrepreneurial strategies and entrepreneurial management. The first strategy is that of being seen as the undisputed leader in the market. Strategies are for external markets and tummy be used simply or in conclave with others. It is the riskiest but pays the most if successful. This is what AOL tried to do by merging with Time Warner. Other strategies involve creative imitation, entrepreneurial judo and finding a specialized ecological street corner (Drucker, 2007). This gives rise to entrepreneurial leadership where leaders operate in dynamic market conditions and transform the divergence and dynamic character of the market into opportunities (Tarabishy, Fernald and Solomon,). He is capable of using different strategies or a combination of them to establish his product/ service or company in the current environment. The entrepreneurial leader should declare a clear vision, communicate it well and then help his people execute it. Types of disposals and leadership styles Organizations can be classified into different types depending on their size, culture, decision making authority and design etc. An make-up which follows top-down communication, has very rigid rules, is bureaucra tic in authority and has very narrowly defined tasks is called a Mechanist Organization (Kinicki, 2007). On the other hand an Organic Organization is flexible, with open communication networks, flat stratified structure and employees who perform variety of tasks and not just the specific ones (Kinicki, 2007). Decision making in much(prenominal) organizations is de-centralized and middle and lower level managers have more control over various decisions. For transformational leaders, an organic organization is best