Entrepreneurship and Leadership of Business Ventures

This report evaluates various leadership styles and entrepreneurial qualities that facilitate the organization to effectively carry out all the activities in the workplace.

Entrepreneurship and
Leadership of Business
Ventures

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Leadership Styles....................................................................................................................3
Entrepreneurial qualities.........................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
Books and Journals.................................................................................................................7

INTRODUCTION
There are very kinds of leadership styles that are present in the organization which leaders
can adapt in order to smoothly carry out the operations at the workplace. These leadership styles
are different according to the behaviour and nature of the leaders who are responsible for the
accomplishment of the specific task (Bagheri, Newman and Eva, 2022). It is very important for
the leaders to carry out entrepreneur qualities through which they can make effective plans in
order to achieve the goal of the organization. In this report there will be evaluation of the various
leadership styles that facilitate the organization to effectively carry out all the activities in the
workplace. Along with that various entrepreneurial qualities and characteristic will also be
undertaken.
MAIN BODY
Leadership Styles
There are various kinds of leadership styles that the leaders can implement in the workplace.
These styles are different according to the nature and behaviour of the person. Leadership styles
can be defined as the behaviours of the leaders which they implement in order to influence the
actions of the employees in the company. These actions of the leaders help the organisation to
motivate the employees towards the achievement of the goal of the organisation. It can be stated
that there are various types of leadership styles that are present which leaders can adopt in order
to bring more productivity at the workplace through which organisations can become able to
generate more profits and revenues in the market. Some of the leadership styles are described
below: -
 Coaching leadership styles: - It is one of the most effective styles that leaders adopt in
order to analyse the strengths as well as weaknesses of the employees. Leaders with
coaching styles mainly focus on motivating their employees towards the accomplishment
of the goal (Akpan, 2021). Leaders in coaching style always ensure that their employees
should set goals for the specific task. When leaders adopt this style, they will become
able to develop new skills in employees and also help them to achieve their personal
goals. Along with the benefits, there is one major challenge that leaders face in this type
of style is that it is one of the most time-consuming leadership styles. It usually takes

more time as compared to other leadership styles in accomplishment of the goals of the
organisation.
 Autocratic leadership styles: - This leadership style is also known as authoritarian style
of leadership in which leaders mainly focus on getting the results and the output from the
particular course of action. It is one of the most effective leadership styles because
leaders only take decisions by their own and they do not involve employees in the
decision-making process. Leaders with this style are very much beneficial for the
employees in order to promote the productivity of the employees by delegating each and
evry work clearly. It also facilitates the employees to reduce the stress by taking
decisions on their own (Dees, 2018). When I was at my workplace, I was given the role
of leader and I generally used to adopt this leadership style because it helps me to carry
out the particular work in an effective way. This leadership style facilitates me to
effectively carry out the communication process with the employees so that particular
task can be completed in a given time.
 Democratic leadership style: - It is another leadership style that leaders adopt in order to
influence the employees through which they are able to achieve the goal. Leaders with
democratic styles who involve their employees in the decision-making process and also
consider valuable suggestions which they can implement in the course of action. It is one
of the most effective leadership styles that are responsible for increasing the employee
engagement with the values and the goals of the organisation (Alemany and Andreoli,
eds., 2018). It also results in the increase of employee satisfaction with the terms of the
organisation. One of the main benefits of this leadership style is that it boosts the morale
of the employees towards the values of the organisation and they also become able to
implement new ways of production. When I was in my workplace, I used to follow this
leadership styles because it helps me in effectively motivating the employees at the
workplace. This leadership style allows me to invite various suggestions and new
decisions that I can implement in the particular course of action. By implementation of
this leadership style, I become able to achieve the goal of the organisation in an effective
manner.
 Servant leadership styles: - It is another effective leadership style in which leaders
believe that each and every member of the organisation is very important and their needs

should be fulfilled in the organisation. Leaders by adopting this style mainly emphasize
on to fulfil the needs of the employees through which they can produce effective work at
the workplace. By implementation of this leadership style organisation becomes able to
increase the employee satisfaction as well as engagement with the organisational values
and goals. Leaders by exercising servant leadership style become able to build effective
morale of the employees towards their work and ethics. One of the main benefits that
leaders get after adopting this style is that they overall and as the productivity of the
employees and they make them more effective and potential in regards to carrying out the
particular activity in the future (Tripathy, 2019). Currently I am pursuing this leadership
style because by implementing this style I become able to increase the motivation of the
employees through which they generate more productivity in carrying out their duties. It
also facilitates me to take effective decisions regarding the plans and the policies that
have to be implemented at the workplace in regards to carrying out the particular task.
Entrepreneurial qualities
An entrepreneur can be defined as the individual who creates and focuses on running their
own business in the marketplace. It is very important for the individual to carry out entrepreneur
qualities and characteristics through which they can make their business more successful and
profitable in the market. Some of the entrepreneurial qualities and characteristics are described
below: -
 Creativity: - It is one of the most effective qualities of the entrepreneur that they should
analyse effective opportunities in the market through which they can provide effective
solutions and innovative products to the customers. They should effectively analyse the
problems of the customers that they are facing on a daily basis and accordingly they
should provide the products and services into the market. This quality of an individual
can help them to increase the customer base and profits in the future.
 Product or service knowledge: - It is one of the most effective qualities of the
entrepreneurs that they should have the knowledge of the product for the services that
they offer to the customers in the market. Entrepreneurs should have the ability to
promote the awareness of their products and services to the customers so that they can
attract a large number of people towards their business (Lee and Huang, 2018). They
should effectively analyse the potential and target audience so that they are able to

increase their profits in the market. When I was carrying out my business, I used to
critically target the audience to whom I have to offer products of the organisation. It helps
me to increase the profitability of the business.
 Risk taking: - It is another quality of the entrepreneurs that they are always ready to take
challenges and risk in the market place. They effectively make plans and procedures for
the uncertainties and in advance they do calculation of all the possible challenges that can
affect their operational activities (Ughetto and et.al., 2020). It is very important for the
entrepreneur to develop risk taking qualities because it can help them to maximize their
profits in the future. Taking risks is one of the most effective qualities of the entrepreneur
because it helps them to stand out their business from the competition in the market and it
also facilitates the employees of the organisation to become more challenging. When I
was carrying out my business, I usually take risks in the market place and it helps me a
lot in generating more revenues by carrying out operational activities.
 Decision making: - It is one of the most effective qualities of the entrepreneurs that there
is a need of taking effective and quick decisions in regards to the market conditions.
There is a need for the entrepreneurs to regularly analyse the needs and the wants of the
customers and accordingly that they should implement new decisions in regards to the
process of production. This quality of entrepreneur will help the organisation to introduce
new production services into the market which will help them to generate more revenues
and profits in the future (Ratten and Jones, 2018). When I was working as an
entrepreneur in business, I was sure that I should take decisions in a fast manner
regarding the market conditions so that I would be able to maintain the brand image of
my organisation. This quality of mine helps to become more successful in the market
place.
CONCLUSION
From the above report it has been analysed that there are different kinds of leadership styles
that leaders implement in order to accomplish the goal of the specific task. These styles facilitate
the leaders to effectively achieve the desire and targets of the business through which they can
generate more revenues and profits in the market. In the above report, reflective report has also
been undertaken in regards to the leadership styles and entrepreneurial qualities. Different kinds

of leadership styles have been undertaken into the account in order to better understand the
qualities of the leaders. These qualities of the leaders help the organisation to become more
successful in the market.

REFERENCES
Books and Journals
Akpan, I.J., 2021. Scientometric evaluation and visual analytics of the scientific literature
production on entrepreneurship, small business ventures, and innovation. Journal of
Small Business & Entrepreneurship, 33(6), pp.717-745.
Bagheri, A., Newman, A. and Eva, N., 2022. Entrepreneurial leadership of CEOs and
employees’ innovative behavior in high-technology new ventures. Journal of Small
Business Management, 60(4), pp.805-827.
Dees, J.G., 2018. The meaning of social entrepreneurship 1, 2. In Case Studies in Social
Entrepreneurship and Sustainability (pp. 22-30). Routledge.
Lee, M. and Huang, L., 2018. Gender bias, social impact framing, and evaluation of
entrepreneurial ventures. Organization Science, 29(1), pp.1-16.
Ratten, V. and Jones, P., 2018. Transformational entrepreneurship: An overview (pp. 1-17).
Routledge.
Tripathy, M., 2019. Overcoming the major challenges in new entrepreneurship: An orientation
through soft skills. SMART Journal of Business Management Studies, 15(2), pp.38-46.
Ughetto, E. and et.al., 2020. Female entrepreneurship in the digital era. Small Business
Economics, 55(2), pp.305-312.
Alemany, L. and Andreoli, J.J. eds., 2018. Entrepreneurial finance: the art and science of
growing ventures. Cambridge University Press.