Small Business Management Essay

Leadership is a process which a person influences and inspires the thoughts, attitudes and behaviors of others by providing purpose, direction and motivation. Now that I have identified areas of

However, followed by the statistic of UK SMEs that 10% of businesses close down each year. The median age of U.K companies is however 12 years, and nearly half of the companies in the UK have been in business for nearly 15 years. Many businesses do not last that long, however, 50% of new businesses will have failed within four years, according by (The Department for Business Innovation and Skills UK statistic report 2008). The failure rate and profits fluctuate with general economies conditions. The primary cause of business failure is incompetent management. Other reasons include poor financial control. ( Norman M. Scarborough, 2006)

What is leadership? There are endless variations of the definition of the term, however, the one that I agree most with as defined by Ledlow and Coppola. Leadership is the ability to assess, develop, maintain, and change the organizational culture to meet the needs and the expectations of the external environment. There are many great leaders today that anyone can name off in an instant. We all try to be leaders in some part of our lives whether it be at home, in school, in our workplace. There are certain qualities that can determine the good leaders from the bad leaders. I want to learn more about these characteristics by taking assessments and determine how they affect my leadership skills and how I can improve on them throughout this paper.

Leadership is “the fusion of heart and mind, selfless action, encourage betterment of others, and to make a difference. It is the process of influencing

Leadership - “the process of bringing about positive changes and influencing others to achieve worthwhile goals”. After three months of becoming an assistant manager, Len’s leadership skills have already been put up test. As an example, he effectively managed a customer who spilled hot coffee on herself while answering a call, and because of that, she was about to sue the restaurant. Len effectively calmed her down by offering the restaurant to pay for her dry cleaning. He demonstrated effective leadership skills and

Over the years, a great deal of time, and research has been dedicate to the study of leadership. Even with extensive data on the topic, many still disagree on what leadership really means. Hence, leadership is a word that has many different meanings and different researched theories associated with it. On a basic level, leadership involves having and establishing a clear vision, sharing that vision with followers, respecting followers, and leading an organization with excellence while ensuring that everyone is part of the team. Leadership is also a method by which a leader uses his or her influence towards getting a group of followers to take ownership or buy into a vision.

Organizations depend on the management and leadership skills of individuals in order to be successful. Leaders do not have to be managers but are equally important. Leaders are individuals who possess traits, behavior and abilities to influence others to accomplish tasks and other needed objectives for the company. Leadership is defined as “the ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organization. . . .” (House et al., 1999, pg. 184).

Leadership is about being proactive and having the initiative to implement strategies, being able to manage change, building relationships with employees and being able to influence employees in a way that meets the organization’s needs (Clawson, 2012). Leadership is about being able to persuade employees to acclimate to the company’s vision by motivating them and encouraging them to embrace change when needed. It is about building relationships and bonds with employees while guiding them so that they are able to meet their potential. It is about making them feel responsible so that they feel like they are important members of the team. Leadership is about leading people it is not about dictating orders and responsibilities to others. It is about installing a sense of importance

Leadership is about helping people, empowering people, setting clear goals and motivation, while operating to accomplish the mission and improving the organisation.

For my project, I ran Coffee-Roma, a coffee shop located in the business district of a large city. My simulation ran for 60 days. Over this timeframe, I hired 7 employees and earned gross revenues of $89,984.20. From those revenues, my net profit totaled $14,046.83. Below are the details of how I attempted to best run my business.

Leadership is the ability to create an environment in which people want to put their best effort forward. Creating this environment takes trust which is gained by leading by example, setting standards and holding people accountable. To set these environments, leaders must understand what motivates the people they lead. People are motivated by different styles and a leader must understand the individuals needs and tend to those needs. Leadership is dynamic and a strong leader changes for these needs. During my career, I have been fortunate to experience both strong and weak leadership influences. The strong leaders displayed the 28 Leadership Competencies found in Ref (a). The weak leaders acted more as managers and did not attempt to create

Studying business should help the individual to gain knowledge of how business in our nation and the entire world is conducted, developing in the areas of what business really mean and understanding the framework of business. Enhancing the knowledge base of business is essential in the pursuit of entrepreneurship endeavors. To be successful in business we must obtain clarity and understanding of the foundation of business and utilizing the framework business model, (Ferrell, Hirt & Ferrell, (2009 pg. 09). These tools are guaranteed to equip and arm the individual who is in pursuit of their business endeavors.

Leadership is creating an environment where individuals within your sphere of influence are inspired to move forward with the short term goals, plans, missions, and strategic intent of an organization while performing within the bounds of that organizations moral and ethical boundaries.

Leadership is defined as the ability to influence people toward the attainment of goals. Leadership is an incredibly crucial skill for managers and all employees in a work environment to understand in order to obtain the end goal of the company.

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.