Entrepreneurship and Leadership in Business

This report explores the significance of entrepreneurship and leadership in business. It discusses different leadership styles, such as authoritarian, participative, and delegative, and their impact on employee motivation and productivity. The report also highlights the essential characteristics and traits of successful entrepreneurs and how they add value to a business. Real-life examples and personal reflections provide practical insights for aspiring leaders and entrepreneurs.

Entrepreneurship and
leadership business
Table of Contents

INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK...............................................................................................................................................3
Leadership and styles..................................................................................................................3
Entrepreneurial quality and characteristics.................................................................................4
How they add value to business..................................................................................................5
CONCLUSION ...............................................................................................................................6
REFERNCES:..................................................................................................................................7
Books and Journals:....................................................................................................................7

INTRODUCTION
A business firm has wide operations into long run which consist hard work of an
entrepreneur to manage and regulate effectively in the competitive market. An entrepreneur is a
leader of whole of the firm which set targets and work to different departments. There are
significant characteristics and traits of an entrepreneur and set leaders for the each department.
This report will carry out own reflection on being a leader and effective traits that must require in
making a business successful. Moreover, there are various approaches and style a leader must
follow while guiding and motivating other employees. As these leaders are the backbone of
organisation who make the possible efforts to achieve desired outcome. The report will going to
cover all the essential style and facts about leadership that will be beneficial for a business firm.
MAIN BODY
TASK
Leadership and styles
Leadership is a term that describe a procedure of leading and guiding with key skills of
own self. It is one of the most popular method that used by many large or small firm to enclose
people together for working towards single goals and objective. A leaders is the one who make
others motivate and inspire them to work hard while working for a motive. In large business
organisation, there are wide activities due to diversified products range and different department
within the firm. This could be understand by a good example of Tesco, the company have large
segments and outlets across the cities through which they need to maintain each and every
department to mange functions smoothly (Aldrich, 2017). The leaders of Tesco are well
dedicated towards their work so that they put the right style in right activity into their leadership.
While performing a internship training at Tesco Plc, I analysed a proper working segment into
the company. Work are allotted among team, decision are taken with concerns of every
employee, communication flow smoothly from top to lower authority. These all are a part of
effective leadership style. Following is a brief description of these leadership style:
Authoritarian Leadership (Autocratic): under this leadership, the leaders are more focused on
giving instruction in order to complete work as it is suggested. This style makes a leader strict
about the actions and take all his decisions separately without involving team members. In my
opinion this style is suitable in firms have technical work where appropriate methods and

decisions are required(Audretsch, and Moog, 2020). As that does not involve influence of team
members, that could create a environment of less valuable for employees working hard. Firms
like Mcdonals, Facebook and Walmart using this style of leadership in order to create
effectiveness and growth of the organisation. The leaders of these organisations make the
strategies on how should a burger needs to be prepare in McDonald that make in unique from
others and then communicate the same with others.
Participative Leadership (Democratic): Under this style of leadership, leaders are mainly
thoughtful about maintaining relations with their team, member. They do it with great passion
and communicating skill to be an influencer for others. I used this style of leadership in my
leading style by engaging others into decision making process, through which it help me gaining
their trust and respect for my commands at workplace(Bosma, Sanders, and Stam, 2018). I made
my team free and open to come up with their thoughts and ideas about the topic and follow the
best one to complete the work. The style itself says a participation of members, so it is must to
encourage other to take part in decision making process by which they get valuable and
appreciated for a reliable judgement. In case of Apple company, the firm had faced its failure
into past 1990s due to low brand name and exposure into market, but it regained tits target and
come up with the style of leading. Through following this style of leadership, Steve jobs has
played crucial role in making the brand name at the top by hiring professional leaders and
welcome them in taking companies decisions.
Delegative Leadership (Laissez-Faire): under this type of leadership, it is quite complex style
which follow the rule of not being participate and flexible in decision making
process(Chowdhury, Audretsch, and Belitski, 2019). Involving in this type of leadership, I
attained failure in most of business problems. I analysed this style is suitable in small businesses
practices where owner are all decision maker with 2-3 employees. By engaging with this style of
leadership, problem rises in poor work quality, less team coordination and overall less desired
outcome.
Entrepreneurial quality and characteristics
An entrepreneur is the one who have a creative mind, intellectual personality, hard
working and diversified way of thoughts and ideas (Welter, Baker, and Gartner, 2017). These
entrepreneurs are the one who get success in established their business with a motive to be the

bests service provider in the market. In order to operate a business, it requires capabilities and
ability to handle business risk, perform with internal and external factors of business and cope up
with market trends and preferences. There are various characteristics and traits that makes an
individual a successful entrepreneur I myself analysed, what a business consist in opening into
leading market where competitors runs into race of winning business profit and market
opportunities. Following are the characteristics and traits of entrepreneur:
creative: An entrepreneur must be creative in all aspect, as the market trends are inseparable and
dynamic that makes the frequent change of demand. So that, the entrepreneur needs to take
decisions wisely that will in favour of organisation success. I consider my self as a creative
entrepreneur as I develop and observe new set of skills by study on stories of great entrepreneurs
like Isa brothers who came up with new thoughts and creative mindset to run a successful
supermarket. Being creative is a solution of being successful with modern solutions and
understand what customers desires.
Optimistic: An optimistic leader is a one initially focused on its goals and vision. Taking
business risk and cope up with leading market is not an easy task which require clear mind and
passion to reach the destination(Landström, 2020). Being an optimistic entrepreneur will help
me in attaining success to my career by get stick to my dreams and motive. I focus in one
direction and pit my all hard work in reaching to it.
Decision maker: All business decisions are in hand of the entrepreneur, whether it is taken by
leaders, manager or other directors but approval is refired by only the owner. To take decisions
effectively, there must be knowledge of every business aspect so that it could not crate many
harm of business entity. I prefer to take decision into overall aspect of business functioning
tethered it is related to employee welfare or effectiveness.
How they add value to business
By constructing analysis of leadership and entrepreneurial traits, it has evaluated that, both
individuals relaible to make the business success. An entrepreneur could not walk alone into
long path, it requires support of a better leaders who could take the decisions and make everyone
influence with their skills(Nambisan, 2017). By using democratic style of leadership, I found
myself a less burdened as my subordinates carry out the wok effectively because of getting good
training that helps on timely completion of work and boost effectiveness and efficiency. These
two terms are necessary for running a business successful as productivity could only get engage

when employees will work effectively. Democratic style of leadership provided me a direction to
monitor and supervise team by being good communication to analyse their problems at
workplace and provide effective solution. These activities makes me capable for thinking of
opening my own business in future as I am acknowledged about what is takes to be successful
represent.
CONCLUSION
This report has concluded the significant aspect of a leader and being an entrepreneur. As these
two personality plays vital role in making the market full of creativity and innovation. Leaders
use their own leadership style to guide and monitor their subordinates among which, democratic
style is the best and most used by large organisation as it provide freedom and value to
employees. Moreover, creative entrepreneurs are the future of modern world to serve a develop
country and nation.

REFERNCES:
Books and Journals:
Aldrich, H., 2017. Learning together: National differences in entrepreneurship research. The
Blackwell handbook of entrepreneurship, pp.5-25.
Audretsch, D.B. and Moog, P., 2020. Democracy and entrepreneurship. Entrepreneurship Theory
and Practice, p.1042258720943307.
Bosma, N., Sanders, M. and Stam, E., 2018. Institutions, entrepreneurship, and economic growth
in Europe. Small Business Economics, 51(2), pp.483-499.
Chowdhury, F., Audretsch, D.B. and Belitski, M., 2019. Institutions and entrepreneurship
quality. Entrepreneurship Theory and Practice, 43(1), pp.51-81.
Landström, H., 2020. The evolution of entrepreneurship as a scholarly field. Foundations and
Trends® in Entrepreneurship, 16(2), pp.65-243.
Nambisan, S., 2017. Digital entrepreneurship: Toward a digital technology perspective of
entrepreneurship. Entrepreneurship theory and practice, 41(6), pp.1029-1055.
Welter, F., Baker, T., and Gartner, W.B., 2017. Everyday entrepreneurship—a call for
entrepreneurship research to embrace entrepreneurial diversity.

Appendix 1
Statements Strongly
disagree
Disagree Neutral Agree Strongly
agree
1. Employees need to be supervised
closely, or they are not likely to do
their work.
1 2 3 4 5
2. Employees want to be a part of
the decision-making process.
1 2 3 4 5
3. In complex situations, leaders
should let subordinates work
problems out on their own.
1 2 3 4 5
4. It is fair to say that most
employees in the general
population are lazy.
1 2 3 4 5
5. Providing guidance without
pressure is the key to being a good
leader
1 2 3 4 5
6. Leadership requires staying out
of the way of subordinates as they
do their work
1 2 3 4 5
7. As a rule, employees must be
given rewards or punishments in
order to motivate them to achieve
organizational objectives.
1 2 3 4 5
8. Most workers want frequent and
supportive communication from
their leaders.
1 2 3 4 5
9. As a rule, leaders should allow 1 2 3 4 5

subordinates to appraise their own
work
10. Most employees feel insecure
about their work and need
direction.
1 2 3 4 5
11. Leaders need to help
subordinates accept responsibility
for completing their work.
1 2 3 4 5
12. Leaders should give
subordinates complete freedom to
solve problems on their own
1 2 3 4 5
13. The leader is the chief judge of
the achievements of the members of
the group.
1 2 3 4 5
14. It is the leader’s job to help
subordinates find their “passion.”
1 2 3 4 5
15. In most situations, workers
prefer little input from the leader
1 2 3 4 5
16. Effective leaders give orders
and clarify procedures.
1 2 3 4 5
17. People are basically competent
and if given a task will do a good
job.
1 2 3 4 5
18. In general, it is best to leave
subordinates alone.
1 2 3 4 5
Total Scores
Authoritarian Leadership -19

Democratic Leadership -23
Laissez-Faire Leadership -14
Scoring Interpretation
In authoritarian leadership, I scored 19 that means my knowledge and specialize is moderate in
this type of leadership.
In democratic leadership, I scored 23 that means I am in the high range in this style of
leadership.
In Laissez-Faire Leadership, I scored 14 that means I am in the low range which reflect my
knowledge is quite poor.