Entrepreneurship and Leadership of Business Ventures

Entrepreneurship and
leadership of
business ventures

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Leadership styles and entrepreneurial qualities as well as characteristics following a reflective
report...........................................................................................................................................3
How certain traits and attributes add value to business and business organisations with
examples......................................................................................................................................6
Evidence of all research been done that can be seen influencing success in business................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship in business ventures is the most important part while introducing new
skills and actions which are needed in order to implement a successful business venture. It starts
from many stages like new ideas been determined, selecting effective employees and building a
relationship with right investors. Without effective leadership it is not possible to have a proper
entrepreneurship. When a new business venture gets implemented entrepreneurial leadership is
defined as the concept of gathering all individuals as a group of people in order to achieve
common goal and that will be done by using a proactive entrepreneurial behaviour and it is done
by taking advantage of all opportunities that are available and if any change occurs in the
organisation then it is managed well(Kennedy and Chan, 2020).The below report involves
different leadership styles and entrepreneurial qualities as well as characteristics, how styles and
attributes add certain value to business, self-assessment results and identification of all qualities,
traits and attributes which can determine success in the organisation.
MAIN BODY
Leadership styles and entrepreneurial qualities as well as characteristics following a reflective
report
In terms of leadership style it is defined as a method that leader uses for providing
effective direction, generating plans through motivating all people. There are many leadership
styles that a organisation can apply whether they are working in any type of field. There are four
important leadership styles that mostly all leaders apply which are autocratic, democratic,
bureaucratic and laissez fair leadership style. In terms of following a reflective report it is been
explained as below:- Autocratic style:- It is defined as a leadership style where all decisions are made by
single person only and they don't involve other group members to make choices as well
as decisions. Leaders in this type of style don't take suggestions from other team
members because they don't trust them so they rely on their decisions only(Canestrino
and et.al, 2020). Leaders apply this type of leadership in those situations when
organisation need control and should have a structured environment. There may be many
difficulties that can arise at any point of time so to deal with them such leadership style is
necessary.

 Democratic leadership:- It is also considered as a participative leadership style because
all members of organisation takes part in decision making. It is not particular to any
business organisation as any style of organisation can apply this whether they are private
or a public organisation. As people are also involved in making decisions so it build up
good relationships among teams and increase job satisfaction. Bureaucratic leadership:- It is defined as a organisational leadership where everything is
done in a formal way. There are certain rules as well as policies which need to be
followed in the organisation. All employees working in organisation are expected to
follow such rules. This leadership style is used in those organisations where there is
efficient management style and innovation is not much required(Krismiyaningsih and
et.al, 2020).
 Laissez faire leadership:- It is a type of leadership style which is completely different
from those organisations in which autocratic style is been followed. As in this decisions
are not made by a single individual but a group of people is involved while making
decisions. People working in this organisation feel comfortable by making decisions
because leaders trust their suggestions.
As per above leadership styles I have analysed that according to my qualities I have followed a
democratic style of leadership because by maintaining good and effective relationships with all
people working in the organisation is the most necessary thing in today's world. There are many
new ideas and suggestions that can be helpful while implementing something new so decisions
made only by me would not be beneficial for my organisation. So, as per my qualities I applied
this leadership style. I allowed all people to participate in making decisions so by applying that I
maintained good and effective relationship with everyone.
Entrepreneurial qualities Motivation:- As a leader motivating employees is very important. So, to achieve success
in the organisation all employees must be motivated so that their mindset becomes such
that they had to achieve all business objectives. Leader should create a positive attitude
among all people so that all workers enable a passion of working in the
organisation(Knox, Crawford and Kelder, 2021). Creativity:- An organisation should not rely on using same kind of ideas. Creativity is
necessary in the organisation and it can be only done if leaders are interested to create