Strategic Management 1 Topic-2 Entrepreneurship skills are really matter for the modern dynamic business environment. As an entrepreneurship leader, a person must be able to understand the future challenges and risks in the organisation. An entrepreneurial leader is responsible for organising and motivating a group of people for achieving the common goals and objectives (Prooijen & de Vries, 2016). The traits of entrepreneurial leadership is not limited to motivating people or achieving target rather entrepreneurial leader is also responsible for innovation, taking advantage of opportunities, risk optimisation and identifying the environmental change and make decisions accordingly. There are many theories given by scholars and researchers for leadership style such as trait theories, contingency theories, influence theories, and behaviour theories. The trait theory is based on various leadership skills, which is based on the characteristic of the leader. According to this theory, an entrepreneurial leader must have a clear vision for his group members or for his team. A leader must be able to clearly communicate his/her ideas or opinions to other people. Proper communication skills are really essential for a leader to achieve common goals and objectives. An entrepreneurial leader must create an atmosphere and encourages people towards the organisational success. To adopt the changes in external environment and to face the future challenges a leader must be capable in facing any challenges and have capability to set standards for other people. To face such type of challenges a leader must be honest and desperate to learn new things that how leader can avoid the future challenges and adopt the opportunities to ensure organisational growth and success (Rasool, Arfeen, Mothi, & Aslam, 2015). For example, to face the environmental change and future challenges, a leader must have innovative thinking. This trait helps the leader to solve the issue in innovative ways. It is really important for a leader to analyse the present situation and predict the future changes on the basis of current situations. It means a leader should have visionary power, which enables the leader to prepare in advance for any kind of environmental changes and adverse conditions. Apart from this, a leader should have tremendous self-belief that creates self- confidence in leader to make any experiment or taking challenging decisions in favour of the organisation and its people. To face the future challenges and environmental change, leaders must be aware about their weaknesses and strengths that further help the leader to make
Strategic Management 2 correct decision and implement necessary changes in the organisation. Environmental changes are normally unpredictable and have great influence on the organisational practices. Therefore, to face these changes a leader must involve all the employees or key people of the organisation in the decision-making process (Fiaz, Su, & Saqib, 2017). A leader has to deal with multiple of challenges and a large group of people. Therefore, a leader required a set of entrepreneurial skills to guide and motivate people towards the organisation. These skills are not developed automatically rather a leader needs to learn and understand various strategy and tactics to deal with certain situation in the organisation. Therefore, it can be said that these traits and knowledge are required to develop over time because updated knowledge and learning is the key of getting success for any leader in any organisation. Topic-5 Relationship between employers and employees is the fundamental of organisational success. A good relationship between organisational employees and employers set the tone of growth and success and ensure a health work culture in the organisation. Relationship not only helpful for understanding the need and requirements of people who are working in the organisation rather it also helps a leader to easily motivate and engage people in the work. Job engagement of people further reduces the high employee’s turnover that helps the organisation to increase the productivity and quality in the organisation. There are many benefits of good relationship between organisational employees and manager. It ensures the success of organisation and allows people to present their ideas and opinions to their managers without any fear. It facilitates the employees to communicate with the manager about any personal or organisational issue (Khan & Nawaz, 2016). There are many leadership theories that show the relationship between employees and employers such as autocratic versus democratic leadership, employee centred versus job- cantered leadership, etc. These leadership theories define the relationship of leader with the employees. According to the democratic style of leadership, a leader must have good relationship with the organisational people and the leader must involve the employees in the decision-making. However, the decision is taken by the leader but opinions of employees are always considerable by the leader for the success of the organisation. Therefore, for the
Strategic Management 3 success of the organisation, it is necessary for a leader to establish a good relationship with employees (Storey, 2016). For example, easy communication or easiness in the information flow not only reduces the time of taking decision rather it also assists the leader to make effective decisions about any circumstances or situation. A healthy relationship between leader and followers allow the employees to openly talk with their leaders about their issues and provide assistance to the leader to think and consider the issue with open minded. However, if manager resolve the issue of employees on both personal and personal level, it helps the organisation to gain the trust of employees. It also helps to enhance the loyalty of organisational people. The support and good relationship of top leaders or managers to the employees motivate the people and encourage them to give their best to get the organisational goals and objectives (Cote, 2017). Establishing good relationship is not work as a backbone of an organisation rather it provides power to the organisation to compete with changing environment and competitors with skilful and experienced employees. This will also enhance the commitment and loyalty of employees that further helps the organisation to achieve organisational goals. However, it can be said that establishing good relationship between leader and employees always beneficial for both the parties because a good relationship cares about the interest of each other and avoid the situation of conflict within the organisation.
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