the people entrepreneurial leadership “process of creating an entrepreneurial vision and inspiring...

The People

The People

EntrepreneurialLeadership

“Process of creating

an entrepreneurial vision

and inspiring a team to

enact the vision in high

velocity and uncertain

environments”

Pro-activeness Influencing & lead future rather than waiting to be influenced,

exploit opportunities & accept responsibility of failureProactive response to environmental opportunities

(anticipate future problems, need for change and improve)

Innovativeness think creatively, develop novel & useful ideas in response to

opportunity recognition, resource utilization & problem solving

Distinctive attribute of entrepreneurial leadership

Risk TakingWillingness to absorb uncertainty and take responsibility Prudential and calculated risk taking - common

characteristics particularly in the early stages of entrepreneurship process

How Entrepreneurial Leaders Think

Take Initiative(critical role)

Entrepreneurial Creativity

(opportunities)

Takes RiskTakes

Responsibility

Involves instilling confidence to think, behave

and act with entrepreneurship in the interests of the

intended purpose of the organization and beneficial

growth of the stakeholders

Essential Qualities of

Entrepreneurship

Leadership

Vision and Dis-satisfaction with the Present“Change depends on a

defined dissatisfaction with present - vision for how things should be and clear idea of first steps that need to be taken” – (John Kotter in “Leading Change”)

Bill Gates - business-oriented Entrepreneurial Leadership

Mr Patrick Awuah; President of Ashesi University College Ghana – Social oriented Entrepreneurial Leadership

Knowing &Taking Advantage of Your Unfair Advantages

Effectuation - How

entrepreneurs use their

unfair advantages to build

their enterprise in

advantageous ways

Analogy to cooking

Bill Gates

Mr Patrick Awuah

Ability to Get People On-board & Add to Vision

Good entrepreneurs are

always recruiting

Tend to engage others to

build a core team

Engage people by

encouraging participation,

rewarding success and

thus adding them to the

vision

Flexibility to Adapt, Openness to Feedback and Ability to Learn

Entrepreneurial leaders are flexible

Entrepreneurial leaders are also fair and open to receiving feedback

Entrepreneurial leaders give employees credit for suggestions

Persistence and Execution

Single attribute vital to successful leadership entrepreneurship

Multifaceted component of leadership entrepreneurial motivation & drive

Accentuate positive, downplay negative & guide to success

Relentlessly focused on activities that get them to their vision

Key Benefits of

Entrepreneurship

Leadership

Takes responsibility so that organization generates its own order & responds creatively to environment

Productive for the organization & liberating for leader

Entrepreneurial leaders are unleashing their own creativity

Creativity

Value addition - innovation that was introduced and how the cus tomers accepted it

Designed to cover a gap

Good entrepre neurship solves the world’s problemsGoogle (finding new websites / sources), Microsoft (system for computers), Amazon.com (e-commerce). Facebook (social connectivity) ………

Value Addition to Society

Driven by an overriding purpose when starting their business

Develop a multi-faceted vision for future growth

Guides the day-to-day operations and strategic decision-making

Multi-faceted Vision

Ideas for fostering national economic growth and development

Productive for the organization & liberating for the leader

Important input in the economic development of the country

Trigger head to give spark to economic activities by his entrepreneurial decisions

National Development and Growth

Entrepreneurial Leadership for Development of Country

Promotes Capital Formation

Creates Large-Scale Employment Opportunities

Promotes Balanced Regional Development

Reduces Concentration of Economic Power

Wealth Creation and Distribution

Increasing Gross National Product and Per Capita Income

Improvement in the Standard of Living

Promotes Country's Export Trade

Facilitates Overall Development

"It is a constant struggle to

find people who can be both

entrepreneurial and

conventional leaders...

Finding them is the

fundamental issue in any

company that wants to

grow." 

(Roger Ackerman, Chairman

and CEO, Corning - A Fortune

50 Company)