Entrepreneurship and Leadership of Business Ventures

This report discusses the concept of entrepreneurship and leadership in business ventures. It explores entrepreneurial traits, leadership characteristics, and how great entrepreneurs support these traits and leadership styles. The report also reflects on personal entrepreneurship characteristics and leadership style through tests and assessments. It concludes with an action plan to improve entrepreneurial traits and leadership style.

Entrepreneurship and Leadership of Business
Ventures
1

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Researching into Entrepreneurial traits and leadership Characteristics.......................................3
Analyse that how great entrepreneur to support each of traits given and leadership attributes or
style..............................................................................................................................................5
Reflection over GET, Aulive and leadership test taken to assess own entrepreneurship
characteristic or leadership, support example with work life......................................................6
Action plan to improve entrepreneurial trait and leadership style-.............................................7
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
This report will discuss about the concept of “Entrepreneurship” and “leadership” which is
merely that discussed and covered into different sections. Analysing the element of discussion
about the conceptual termed and summarise entrepreneur leadership style, characteristics, roles
and responsibilities. This assignment will discuss or understand the difference between
leadership, entrepreneurship which is clearly visible the topic. Moreover, analysis the reflection
on GET score, Aulive and leadership test taken to assess the ability or capability of entrepreneur
in regards of work life.
MAIN BODY
Researching into Entrepreneurial traits and leadership Characteristics
Leadership is based on the process or technique through which an entrepreneurial provide
the brief idea about the path for individual, influence the group them to achieve its desirable goal
or objective. Sometimes, there are different tasks performed by leader in the organization with
efficient manner (Bagheri, Newman and Eva, 2020). A leader is basically carryout the leadership
style, skills, characteristics and knowledge. This will help for improving the entire performance
of individual people in order to achieve desirable goals. Sometimes, it is useful for leader to
balance work life and complex situation in the workplace.
Leadership is basically reflects the ability to inspire or motivate the employees, it helps to
build high aspirations and convinces the team to attempt all impossible goals an objective. An
effective leadership style will be adopted by great entrepreneur where they can provide the better
vision, mission with help of proper communication among staff members. in this way, it become
easier for measuring the goals, use of cost benefits, schedules and proper planning. These are
completely different from leader in the entire world and that are not known as manager.
As per research, it has been identified the Entrepreneurial traits and leadership
Characteristics, which may support for handled the work life of leaders in the organization.
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Entrepreneurial traits-
Hard-work- it is one of the important trait of entrepreneur where they can build a growing
business with no walk in particular direction or path. It takes a lot of hard work and invested
time, money. It is the most commonly leader use this trait to gain more opportunities. A
successful entrepreneurs are those who have spending a lot of time in their work.
Goal oriented- All kind of successful entrepreneurs has been started as struggling start-up with
achieve their big goals (Calic and Shevchenko, 2020). In order to achieve the success which
means that have a set of effective plan and always focused on generating a better result or
outcome.
Self- Motivated- it is only driven which able to finish the task and win in life. Success is
only for individual great entrepreneur who wake up each morning with focus on the goal or
objective to achieve. A positive attitude of entrepreneur who is always influence towards
business growth and development.
Leadership Characteristics-
Integrity- it is the important characteristic of leadership which means that essential for
individual’s in the organization. Especially when top level executives are interacted with other
people and make a better decision. Integrity is that actually be develop as blind spot for
enterprise. Make sure that enterprise can easily reinforce the significance in term of integrity to
leaders at different levels.
Communication- An effective leadership is able to interact or communicate with individual
people. That’s why, communication skill will support for transmitting the information or data to
coach the people (Chang, Chang and Chen, 2017). This type of communication skill is able to
listen, communicate across the organization which directly affect the success of business
strategy.
Self-awareness- it is also consider the important leadership characteristic which is always
focused on understand the entire business need or requirements. Sometimes, an efficient leader
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has been established the coordination with team members and identify its basic requirements
because of self-awareness towards organization.
Analyse that how great entrepreneur to support each of traits given and leadership attributes or
style.
A great entrepreneur is always focused on the current business status, condition so that
they have been tried to use their own traits and leadership styles. These will help for entrepreneur
to handle any kind of business complex situation or condition. An effective leaders is tried to
build a strong organizational position (Leitch and Volery, 2017). At that time, leadership styles
and traits will always supports for identifying the preferences of customers, communities,
stakeholders and other employees.
Entrepreneur is operating their business function as leader of organization and need specify
leadership skills to launch or grow as sustainable successful venture in global world. All kind of
business do not succeed because it is depended on the behaviour, attitude of entrepreneur where
how they can use the better leadership style, traits to handle the entire business tasks. A great
successful entrepreneur can be measured the financial performance such as enterprise revenue,
profitability as well as return on investment. Sometimes, leaders may influence the business
performance of organization by exhibiting the leadership style in right manner.
As per evidence, it has been examined that Bill gates is one of the successful
Entrepreneur in global world. He was influence with leadership style and traits to acquire in their
life. Afterwards, it is helping to provide the right direction where they can achieve their desirable
goal or objective (Paudel, 2019). It is one of the most common example of successful
entrepreneur such as Bill gates. They have an ability to use right leadership approach and always
trying to do so much hard-work. He was never nervous and keep try to the best things. This can
possible due to their adoption of leadership style such as communication, self-awareness,
motivation, hard-work etc. all these things are not only supported in business development but it
also provided the better insight in business success.
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Reflection over GET, Aulive and leadership test taken to assess own entrepreneurship
characteristic or leadership, support example with work life.
In my personal experience, I have given the GET test, which is basically define for me as
tendency to start up or manage business projects. Usually, I have been focused on the individual
people in the workplace, where they often and more innovative towards different tasks.
According to me, GET test is kind of self-assessment in order to give me as brief idea about own
potentials. Although, it is an essential to note that analyse my academic debate regarding the
characteristics and leadership of entrepreneur people (Stephan and Drencheva, 2017). Initially, I
have been tried to participate in role of education or training. I can utilize this process to develop
own potential ability and also identify the response on the basis of test.
Before done the GET test, I have been prepared for all essential leadership style, skills
and then afterwards, I have been successfully done the test. I have scored 56% which means that
I have a strength but not enough in context of organizational perspectives.
On the basis of current competition level, I have always find the best way to do work
with different project. It is the happiest thing for me to learn something about the enterprising
and improve the ability to understand perception of other people. My ambitions to implement
innovative idea in the business to achieve the high level growth in marketplace. Before doing
something interactive, I have joined the online open learn course to build knowledge and skills
regarding the business. On daily basis, I have learnt many things which influence me to gain
more opportunities. This is becoming useful in my career enhancement in professional field.
Whenever, I have done the GET test, recognize some of the following characteristic of
high need for achievements. It including task orientation, time management, determination
towards goals, willingness to work long or hard etc. this means that I have earned or improved
these kind of characteristic and leadership styles (Zheng, Ahsan and DeNoble, 2020). According
to my opinion, it is best thing to have knowledge about few things which will support for me to
analyse the purpose of business growth or development.
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I have realized that low need for autonomy score, but it probably to focus on the specific
content to work as valuable member in the organization. Usually, I prefer to take advice,
suggestion from super authority during work execution. Sometimes, it is not become as joyful for
me but I have been understand the responsibility of enterprise (Zheng, Ahsan and DeNoble,
2020). I have analysed that autonomy plays important role in the time management in entire life.
Moreover, I have been expressed the own test result and innovative creativity. In my
personal experience, I have tried to implement creative idea, which is always helping to me to
become as great successful business person. I have owned Communication leadership style so
that it help for me to establish communication or interaction. it is also very important for in my
career growth and development. On the other hand, I have a goal oriented as entrepreneurship
characteristics, which help for me to identify the actual desirable goal or objective.
Due to practice in leadership style, entrepreneurship characteristics which help me to
recognize me as being what I have creative. I likely to have an innovative idea to implement new
technologies and increase the performance of business works. Practically, I have been used own
skills to develop suitable approach according to the business needs. Afterwards, it would
consider to perform as participants through own entrepreneurship characteristic or leadership
styles.
Action plan to improve entrepreneurial trait and leadership style-
Action plan is based on the process in which improve ability and capability of individual
people in the organization. An individual’s can be used Action plan where using different
platform or medium to improve their traits, leadership styles. This is not only improve their style
or traits but it provide the brief insight for current performance in the workplace.
Trait How to improve Goals Resources Time Interval
Goal-oriented I will focus on the
goal oriented trait
so that setup short
To achieve
the business
success
Online
platform such
as Social
20 days
7

term goal in my
own project
completion. This
will help for me to
handle or manage
tasks
To increase
the
production or
sales of
business in
marketplace.
media
Online article
Self- Motivated I will recognise the
previous
achievement and
try to self-
motivated if
become nervous.
To achieve
the business
success
To increase
the
production or
sales of
business in
marketplace.
Online
platform such
as Social
media
Online article
10 days
Hard-worker Spending a lot of
time in work taks
To achieve
the business
success
To increase
the
production or
sales of
business in
marketplace.
Online
platform such
as Social
media
Online article
5 days
Leadership Style
8

Integrity Establish a better
coordination with
team members
To achieve
the business
success
To increase
the
production or
sales of
business in
marketplace.
Online
platform such
as Social
media
Online article
2 days
Communication Interact with client
and taking
feedback from
supervisors
To achieve
the business
success
To increase
the
production or
sales of
business in
marketplace.
Online
platform such
as Social
media
Online article
6 days
Self-awareness Always tried to
update and read
article,
newspapers.
To achieve
the business
success
To increase
the
production or
sales of
business in
Online
platform such
as Social
media
Online article
8 days
9

marketplace.
Table: 1
10

CONCLUSION
From above discussion, it has been summarised about the concept of “Entrepreneurship” and
“leadership” which is merely that discussed and covered into different sections. Analysing the
element of discussion about the conceptual termed and summarise entrepreneur leadership style,
characteristics, roles and responsibilities. As per analysis, it has been developed the
understanding the differences between leadership, entrepreneurship which is clearly visible the
topic. Moreover, analysis the reflection on GET score, Aulive and leadership test taken to assess
the ability or capability of entrepreneur in regards of work life.
11

REFERENCES
Book and Journals
Bagheri, A., Newman, A. and Eva, N., 2020. Entrepreneurial leadership of CEOs and
employees’ innovative behavior in high-technology new ventures. Journal of Small
Business Management. pp.1-23.
Calic, G. and Shevchenko, A., 2020. How signal intensity of behavioral orientations affects
crowdfunding performance: The role of entrepreneurial orientation in crowdfunding
business ventures. Journal of Business Research. 115. pp.204-220.
Chang, Y.Y., Chang, C.Y. and Chen, C.W., 2017. Transformational leadership and corporate
entrepreneurship. Leadership & Organization Development Journal.
Leitch, C.M. and Volery, T., 2017. Entrepreneurial leadership: Insights and
directions. International Small Business Journal. 35(2). pp.147-156.
Paudel, S., 2019. Entrepreneurial leadership and business performance. South Asian Journal of
Business Studies.
Stephan, U. and Drencheva, A., 2017. The person in social entrepreneurship: A systematic
review of research on the social entrepreneurial personality. The Wiley handbook of
entrepreneurship. pp.205-229.
Zheng, C., Ahsan, M. and DeNoble, A.F., 2020. Entrepreneurial networking during early stages
of opportunity exploitation: Agency of novice and experienced new venture
leaders. Entrepreneurship Theory and Practice. 44(4). pp.671-699.
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