The Characteristics That Define Entrepreneurial Leadership
There is an ancient Chinese proverb, "A fish rots from the head." Nowhere is the wisdom of this phrase more evident than in the world of business leadership. A corollary of this maxim is that the success of an organization often comes from dedicated and talented leadership. This paper will analyze the varying characteristics of business leaders and how different values are required by differing business ventures, whether profit-driven or socially-focused. By understanding these characteristics, a student of business can learn important lessons regarding leadership style and business principles that can help shape them become the next great entrepreneur.
To begin any analysis of business leadership, it is important to analyze the characteristics that exist for leaders of traditional profit-driven organizations. One great example is Jack Welch. Welch embodied a football coach mentality based on managing. He often sought to influence employees to work effectively and efficiently through a less formal style via relaxed meeting and get-togethers. This approach allowed the employees to feel invested in both the company and to become loyal to him individually for facilitating their contributions. Throughout Welch's time as the CEO of General Electric, the most vital ingredients to his success was self-discipline, attention to detail and life balance (Lane, 2008). Though he appreciated creativity, to take an idea and
There is a great importance put on business leadership, this is directly due to how a business not only functions but in how fruitful the company can become. A great leader essentially can take a business plan that is weak yet turn it into a success, whereas a poor leader stands a higher chance of ruining the best of business plans. That is why it is essential to develop effective leadership throughout a companies entire management program at all levels. How does one develop or retain strong leadership? Companies must be focused on hiring strategies that encompass very specific parameters, building from within whilst creating a strong foundation for employee development and succession planning. Leadership is essential in any organization. The style and theory embraced determines whether the company will or will not achieve their goals. in all cases theory must be embraced, as a companies theory, style, and strategy is greatly dependent on the industry the company is in (Sadler, 2014). “The behavioral theory is one of the widely used theories of management. It suggests that leaders are made and not born. It gives room for training to install leadership traits in leaders at the expense of denying them a chance. There are various leadership styles embraced by companies (Cyert, & March, 2005).” This paper takes a look at the management styles of two specific
When people think of individual leaders, some of the first people that comes to mind are the many great military, political, and religious leaders of the past, and/or present. Leaders are those individuals who takes charge, not with an “iron fist”, but with their knowledge, beliefs, and most importantly, patience. In the world of business, leaders are looked upon to make important decisions that can either make, or break a business, including leading individuals to a successful path. Les Brown is the world’s most renowned motivational speaker and highly-sought-after resource in business and professional circles for many Fortune 500 CEOs. Les Brown turned his passion to motivate and build people into a multi-million-dollar business that he successfully runs and manages.
All leadership styles are unique and executed via a well-thought out process. This paper reviews the leadership and managerial opportunities I have had in my recent work experiences. The experiences mentioned in this paper range from my first work engagement to the current role I am assigned as a Senior Financial Analyst. There are examples which explain the aspects that have impacted my leadership skills. This paper also examines the possibilities of inventing a unique leadership style that will align with Jack Welch's four principles and eight Rules. Furthermore, it provides the
Leadership can be defined as the process of identifying a goal, motivating others, and make them to achieve the mutually goals (Giltinane, 2013). According to Humphreys (2002), successful leaders do this by applying their leadership knowledge and skills. A good leadership is not only good at management, but also use different leadership styles in different situations. A successful corporation must has a good leader who have the flexible ability which can provide a suitable leadership to make the company successful. Furthermore, there have no perfect leadership styles in the world. Different leader have different leadership styles which also have the different strengths and weaknesses (Ali & Waqar, 2013). Leaders need to consider
Participating in the course Foundations of Organizational Leadership presented many opportunities to enhance and enrich my perspective on leadership as well as develop my own unique leadership philosophy. By observing the theories, models and cases presented in Northouse, Kouzes and Posner textbooks, I was able to learn through the experience of others what a true leader should represent. While considering the strengths and weaknesses of each theory, I am able to implement a leadership style with an effective approach tailored to many different types of learners. In addition, witnessing both the triumphs and failures of various businesses and leadership styles, helped me confirm my personal stance and aspirations towards becoming a leader. By implementing what I have learned from the course and textbooks, I will address in this paper what specific leadership theories, styles and models have contributed to forming my own leadership philosophy. In addition, I will also define the values, qualities, strengths and weaknesses and ethical considerations that pertain to my stance on leadership. By integrating a faith based approach as the foundation of my leadership style, I hope to implement my new philosophy into my current and future career path.
Leadership is the elaboration of group inspiration. One person entrusted as leader can implore the aid, and support of supporters in the accomplishment of a common mission. According to Gurdjian, Halbeisen, and Lane “Becoming a more effective leader often requires changing behavior. But although most companies recognize that this also means adjusting underlying mind-sets, too often these organizations are reluctant to address the root causes of why leaders act the way they do” (Gurdjian, Halbeisen, and Lane, 2014) However, today abundant businesses engross importance on the improvement of leaders. Some of the ultimate leaders were formerly followers, such as in instructive businesses. One aspect as leaders many have to contemplate in striving
In the article, “Think Like an Owner!” by Sally Alexander West dissects the best piece of career advice she has received. At the time of being promoted to a supervisor position in the finance department West was nervous about her new leadership role. To help boost her confidence her boss said, “Just act like you own the place.” The meaning behind the recommendation was not only behavioral but a way of thinking. In the article, West presents five aspects of thinking like an owner: customer focused, persistence, the long view, responsibility, and sharing the vision. These ideas are found in successful business owners and prove to be the foundation of great leaders.
In modern day business, leadership has become an issue that is given far more attention and investment than ever before. Leadership involves establishing a clear vision, sharing that vision with others so that they will follow willingly, providing the information, knowledge and methods to realise that vision, and coordinating and balancing the conflicting interests of all members and stakeholder. This essay will discuss whether leaders are born not made, with varies of theories being compared and contrasted and the strengths and limitations of leaders itself. Further this essay will analyse the future aspects of theories which would establish whether a leader was born with leadership qualities or made into a successful leader.
The contents and assignment in this course has helped me understand the various theories of leadership and how different leadership styles can have a negative or positive effect on followers and organizations. The leadership theories helped me understand the concept of leadership better because it educates me on the different leadership options that are available. Leadership and followership is not based on specific characteristics. Leaders must draw from things and approaches to find the right style. A follower’s attitude determines the way a leader leads. According to Johnson (2011) “Being a good follower means ensuring your boss is supported, but only if he is making optimum decisions”.
From Mahatma Gandhi and Nelson Mandela’s charisma, to Winston Churchill and Martin Luther King’s intelligence and Steve Jobs’ analytical nature, there can be as numerous ways to lead as there are leaders (Crossman, 2010). Leadership is a hot debate both in the business world and other areas of the society. Throughout the world's, there have been as many leadership models as there have been their commentators (Burns & Peltason, 1966). Fortunately, psychologists and businesspersons have established useful frameworks that refer to the main ways of leadership.
After watching Jack Welch’s lecture at MIT, where Welch explains his leadership philosophies and business acumen, it presented me with an opportunity to compare and contrast my own beliefs to that of Jack Welch. In this paper, I will examine and discuss aspects of the lecture that I agree with, as well as, aspects that I do not agree with. In addition, I will provide examples that I have seen in the workplace that coincide with Jack Welch’s presentation.
Management guru Jack Welch, former CEO of General Electric, has been instrumental in forming today’s top business management leaders by imparting effective knowledge in leadership management; he is widely credited with transforming GE into a multibillion-dollar conglomerate.
I have learned many lessons from Jack Welch on leadership. Jack Welch has been with the General Electric Company (GE) since 1960. Having taken over GE with a market capitalization of about $12 billion, Jack Welch turned it into one of the largest and most admired companies in the world by the time he stepped down as its CEO 20 years later, in 2000. Jack Welch used his uncanny instincts and unique leadership strategies to run GE, the most complex organization in the world and increased its market value by more than $400 billion over two decades. He remains a highly regarded figure in business circles due to his innovative leadership style. Jack Welch demonstrated Kouzes and Posner’s five practices of modeling the way, inspiring a shared
A woman of fierce passions, boundless energy, unconventional idealism and sometimes diva-like temperament, Mrs. Roddick was one of Britain’s most visible business executives, and not just because of the ubiquitous and instantly recognizable Body Shop franchises. Working on behalf of numerous causes — the rain forest, debt relief for developing countries, indigenous farmers in impoverished nations, whales, voting rights, anti-sexism and anti-ageism, to name a few — Mrs. Roddick believed that businesses could be run ethically, with what she called “moral leadership,” and still turn a profit (The New York Times, 2007).
For decade’s individuals, companies, and organizations have spent an unprecedented amount of money on researching, molding, modeling and working to define what a leader is and what characteristics make successful leaders. Despite all the research, there is not a quick answer or even full agreement as to what makes an individual an effective leader. The definition of a leader is “someone who can influence others and who has managerial authority.” (Robbins, Decenzo, Coulter, 2015. P.370)