Entrepreneurial Leadership for Managers

Question: Discuss about the Entrepreneurial Leadership for Managers. Answer: Introduction Entrepreneurial Leadership The concept of entrepreneurial leadership can be defined as a leadership style that is different than the traditional leadership style and focuses on the effective utilization of the skills of the individuals in the workplace of the organization to achieve the organizational objectives and vision. The entrepreneurial leadership style is different than the traditional leadership styles in a number of ways, which allow it to have more effectiveness in the workplace of any organization. The entrepreneurial leadership style can be implemented in the workplace of any organization, not just the startups or small organizations. There are a number of situations in which entrepreneurial leadership is more effective than the other forms of leaderships, some of which are mentioned below. Continuous Improvement The continuous improvement of the products and services provided by the organization allows the organization to maintain the high performance in the corresponding industry. The process of continuous improvement is achieved through the effective identification and fix of various gaps in the business processes of the organization. In such a scenario, the entrepreneurial leadership allows the business model or the individuals in the workplace to identify and fix the process gaps more effectively (Renko, 2015). Adapting to Changes The organizations operating in various industries need to adapt to various changes in the market in order to maintain their performance in the corresponding market. The entrepreneurial leadership style allows the individuals in the workplace of the organization along with the business model to be adaptive to all of these changes in the market, which in turn allows the organization to maintain its high performance in the corresponding industry. Enhancement of Innovation The enhancement of innovation in the business model of the organization allows the organization to have competitive advantage over the other organizations. The entrepreneurial leadership style allows the business model of the organization to redefine innovation along with the effective implementation of various innovative solutions (Koryak, 2015). New Ventures When the organization is starting a new venture or a new initiative to include a number of new business processes in the business model, the entrepreneurial leadership style allows an effective way of handling this integration. So the new ventures of an organization in the corresponding industry and market are managed and integrated with the existing business model of the organization through effective entrepreneurial leadership in the workplace. Maintaining High Motivation The entrepreneurial leadership style allows the management of the organization to maintain the high motivation of the employees in the workplace of the organization. The entrepreneurial leadership style has been proved to be more effective in increasing the motivation of the employees in the workplace and allows the organization to go ahead in the direction of achieving the organizational objectives (Pavur, 2012). Work Flexibility The entrepreneurial leadership style is proved to be more effective in maintaining the work flexibility in the workplace of the organization. The entrepreneurial leadership allows the employees to have effective flexibility in the workplace of the organization, which in turn increases the productivity of the organization along with the individuals in the workplace (Kansikas, 2012). References Kansikas, J., Laakkonen, A., Sarpo, V. and Kontinen, T., 2012. Entrepreneurial leadership and familiness as resources for strategic entrepreneurship. International Journal of Entrepreneurial Behavior Research, 18(2), pp.141-158. Koryak, O., Mole, K.F., Lockett, A., Hayton, J.C., Ucbasaran, D. and Hodgkinson, G.P., 2015. Entrepreneurial leadership, capabilities and firm growth. International Small Business Journal, 33(1), pp.89-105. Pavur Jr, E.J., 2012. Leadership for managers. The Psychologist-Manager Journal, 15(4), pp.269-274. Renko, M., El Tarabishy, A., Carsrud, A.L. and Brnnback, M., 2015. Understanding and measuring entrepreneurial leadership style. Journal of Small Business Management, 53(1), pp.54-74.