Entrepreneurship and leadership- self reflective report

This reflective report analyzes the importance of entrepreneurship and leadership styles in managing a business. It also discusses the qualities and characteristics of an entrepreneur and the company the author would like to work for.

Entrepreneurship and
leadership style

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Reflective Report.............................................................................................................................3
About myself................................................................................................................................3
Result of Survey...........................................................................................................................4
Leadership styles..........................................................................................................................4
Entrepreneurship qualities and characteristics.............................................................................5
Company I would like to work for and why................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
The concept of entrepreneurship is referred to the attribute and the capabilities of a
business owner that helps an individual in commencing the new business. It also facilitates in
organising as well as managing necessary resources along with threats for earning more profits.
On the other side, the concept of leadership is said to be guiding, directing, instructing and
motivating team members to attain greater level of productivity and efficiency within workplace.
The existing report is a reflective report based on demonstration of the analysis, understanding
and insight of leadership style along with the qualities of an entrepreneur.
MAIN BODY
Reflective Report
About myself
As a professional individual, I am having the interest in different companies which are
working in the international as well as national market place. I am always eager to know and
collect information related to the large and medium enterprises. I am passionate to develop
different skills and qualities which will help me to boost my professional career. Currently, I am
learning managerial and leadership skills in order to run a professional organisation with
management of employees. There are various kinds of skills that is required to an individual to
run the business in a smooth way. But according to me, there are some of the important skills
that are required to manage and lead the business activities and these are time management skills,
communication skills, leadership skills, team-building skills, problem-solving skills, decision-
making skills and many more. As an individual professional, it is very important for me to
understand different prospects of the business for managing a business venture. Though I have
developed with different types of skills which are needed to manage a business, but I want to
develop and improve more skills, knowledge, capabilities and abilities. This could help me in
getting perfection in those skills that are required within business management. I has also took
participation in the several internships which were associated with the process of managing the
business. The main motive of those internships was to develop an individual with the
professional skills. Therefore, because of taking participation in such internships, I have evolved
with time management skills, team-building skills, problem-solving skills, communication skills,
decision-making skills, collaborative skills, etc.

Result of Survey
In context to the two different concepts of entrepreneurship and leadership style, I have
conducted the survey so that I would be able to know the significance of these two concepts in
the process of managing the business. With the help of the survey conducted, I have taken
feedbacks from the people which has assisted me in understanding the necessity of these two
aspects in the business management. From the survey, I have also analysed that these two
concepts are the primary principles of a business organisation. Feedbacks taken by the people
has also helped me in taking the decisions which are concerned with the leadership styles well as
the entrepreneurship that what type of businesses have which leadership style. With the help of
the survey, it has been interpreted that these are the two key elements of a business concern that
would facilitate the organisation in achieving its success and growth.
Leadership styles
Leadership is referred to the process of instructing, guiding, directing, motivating the
human resources of a team in order to accomplish the task effectively as well as efficiently.
According to me the process of leadership enables the organisation in making strategic business
decisions to meet organisational objectives. Leadership style is that style that assists the leaders
of a company through providing correct directions, initiating the plans and inspiring the
workforce of organisation. The leadership style performs a significant role in playing different
roles of the job. It also helps in monitoring organisational resources for improving the efficiency,
profitability and productivity of the business with attaining organisational targets. Different types
of leadership styles are there and some of the important leadership styles are autocratic
leadership style, democratic leadership style, situational leadership style, etc. As an individual
professional, I have learnt the concept of these different leadership styles as such styles would
help me or any business organisation in playing the role of a leader within the organisation. I
learnt that within the democratic style of leadership, both the employees and the managers or
leaders of the organisation takes part in the process of decision-making. Manpower within the
organisation put their ideas, opinions and thoughts in front of their managers or leaders so that
best possible decision can be made out of the alternatives available. I also have gained the
knowledge of autocratic leadership style in which only the leaders or the managers of the
organisation takes well-informed business decisions without involving their employees in the
respective process. In such type of leadership style, employees of the organisation only follow

the instructions that are given to them by their leaders or superiors. There is another kind of
leadership style, namely, situational leadership style. Within this leadership style, I understood
that it facilitates in adapting the style of management for every situations or the circumstances
within the business in order to accomplish the needs and wants of the team members. According
to me, this kind of leadership style is flexible in nature and it also helps the manpower through
making them encouraged as well as empowered within the participation in business activities and
the process of decision-making. In order to become an effective leader, an individual is required
to possess different set of skills and I have also evolved with some of the skills that would
facilitate me in performing the job role of a leader within the business. Some of the important
skills that are possessed by me are communication skills, decision-making skills, time
management skills, problem-solving skills, team building skills and many more. I have
developed these professional skills through the internships that I have taken earlier. Effective
communication skills will facilitate me in clearly defining the goals of the organisations to the
members of the group in such a way that no confusion can occur in the path of meeting those
business objectives. Such leadership styles facilitate in monitoring the operations of business
through optimising the efficiency level and attainment of goals. As per my knowledge, I have
analysed that democratic leadership style is the best form of leadership style because it involves
active participation of employees which make them feel valued.
Entrepreneurship qualities and characteristics
Entrepreneurship is that concept which is concerned with a professional field and consists
of the ideas as well as intentions for executing both the plans and the ideas that are usually
designed in order to disrupt the market-base with the innovative products and services.
According to my understanding, the process of entrepreneurship is in relation with seeking the
issues in the form of opportunities. From the survey which was conducted by me with the people,
I have examined that entrepreneurship is also one of the major element of a business that
facilitates in its smooth functioning. As per my understanding, the concept of entrepreneurship
assists in economic growth because they are referred to wheels of the growth of economy of a
country. As a professional individual, I have also analysed that these personalities provide
solutions to the problems that occur within market economy through using organisational skills
such as planning, arranging, coordinating as well as controlling. Different kinds of qualities are
there which are required to be possessed by an individual to become an effective entrepreneur.

Some of the most important entrepreneurial qualities are critical and analytical thinking skills,
communication skills, decision-making skills, team-building skills, problem-solving skills, risk-
taking skills, business management skills, creativity skills, etc. As a professional individual, I
have also developed with these skills. Such kind of entrepreneurial qualities would be useful in
my future period also when I would work in a business organisation. While doing internships in
different companies, I have evaluated that there are a wide variety of entrepreneurial qualities
which must be taken into consideration for functioning the role of a job. Along with the above
qualities of entrepreneurship, the recognition of opportunities as well as taking corrective
initiatives is also referred to the important entrepreneurial characteristic. According to my
understanding of these qualities of an entrepreneur, I have made an analysis that such different
kinds of entrepreneurship qualities can provide assistance to me in professional as well as
personal growth. From the above discussed qualities of the entrepreneur, I have also examined
that such professionals play as essential role in the economy of a country and also make use of
different skills and takes corrective initiatives which are needed to fulfil the needs and wants of
the market through bringing innovative ideas. As a professional individual, I have also developed
with some of the entrepreneurial qualities as well as the characteristics. These would also help
me in my future career where I would like to work and also facilitate me in enhancing the career
opportunities in a wide context. When I would work at any business or organisation, I can solve
the problems, effectively communicate with other, take business decisions at the workplace as I
have now possessed with the associated entrepreneurship qualities.
Company I would like to work for and why
Since the beginning of my professional level, I have initially admired to work for the
Tesco Plc which is a UK-based organisation. It is considered as one of the largest supermarkets
that deal in electronics, furniture, internet services, books, clothing, financial services and many
more. I would like to work for this organisation because it is considered as the British
multinational grocery within the retail industry. The respective company is diversified in many
areas across the world and has positive brand value within the global markets. Therefore, it is the
main reason of working at this organisation. Here is an another reason also to work for Tesco Plc
and the reason is that the company ahs high skilled as well as trained employees within the
workplace that facilitates in dealing with business operations effectively as well as efficiently.
When I will work with these highly skilled and trained human resources within the organisation,

then I would be able to improve my team-working skills, communication skills, problem-solving
skills, etc. The organisational culture of Tesco Plc is also favourable and becomes an another
reason to work there as it would help me in enhancing the level of efficiency.
CONCLUSION
From above explanation of the report, it has been concluded that entrepreneurship and the
leadership style both is considered as two key pillars of a business. In the absence of these
significant pillars, it is not easy for an organisation to conduct business operations in a smooth
way. In this present reflective report, the significance of leadership styke as well as qualities of
entrepreneurship have been explained. It has also been concluded from the report that it is very
essential for a professional individual to get the proper understanding of these two aspects for
running the business effectively and efficiently.

REFERENCES
Books and Journals
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entrepreneurship: a portrayal of Abia Ohafia community in South-Eastern
Nigeria. Journal of Enterprising Communities: People and Places in the Global
Economy.
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moderating variable at culinary industry in Bandung city. In Global Competitiveness:
Business Transformation in the Digital Era (pp. 70-73). Routledge.
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Entrepreneurship/case study at Diyala State Company. journal of Economics And
Administrative Sciences. 26(124).
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attaining business innovation: a case of manufacturing SMEs in KwaZulu-
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Withers and et.al., 2018. Competitive landscape shifts: The influence of strategic
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