Individual Reflective Report on Entrepreneurship and Leadership

This individual reflective report delves into the interconnected concepts of entrepreneurship and leadership within a business context, emphasizing their importance for achieving organizational goals. The report explores various entrepreneurship and leadership approaches, including sociological, psychological, and political perspectives, alongside autocratic, democratic, and laissez-faire leadership styles. It examines the skills and attributes essential for effective leadership, operation, and management within entrepreneurial organizations, particularly focusing on communication, problem-solving, market research, and time management skills. The report also presents a business plan outline, detailing key aspects like target market, performance analysis, and financial resources. The report concludes by highlighting the necessity of a well-structured business plan and market analysis for successful entrepreneurial ventures and leadership in a business organization.

Individual Reflective
Report Main

Table of Contents
INTRODUCTION.................................................................................................................................3
Demonstrate the following knowledge and understanding of entrepreneurship and leadership
approaches, and the operation and leadership of a business organisation and be able to discern those
approaches and styles........................................................................................................................3
Demonstrate the skills and attributes required in the leadership, operation and management of
entrepreneurial organisations and produce an innovative and viable business plan...........................5
REFERENCES......................................................................................................................................9
Books & Journals:.............................................................................................................................9

INTRODUCTION
In corporate world entrepreneurships as well as leadership both are important part of
business which is needed to be carried out in proper manner. It is important for entrepreneur
to have a previous knowledge of leadership style as well as a process so that goals are
achieved in proper manner (van 2020). They both are dependent on each other as because
they help each other to achieve desired goals within an enterprise. Tesco, Multinational
Corporation and largest supermarket headquartered in UK. Company provides variety of
products such as consumable items groceries products and many more. This report focuses on
concept of entrepreneurship and leadership approaches, skills as well as attributes required in
leadership operation and management of entrepreneur organisation.
Demonstrate the following knowledge and understanding of entrepreneurship and leadership
approaches, and the operation and leadership of a business organisation and be able to discern
those approaches and styles
Entrepreneurship as well as leadership both are different from each other but are
dependable on achieving of objectives. Entrepreneurship is defined as process through which
business venture is developed and managed with him to gain revenue. In business venture, it
is important to have an appropriate leader with an organisation so that short term and long
term objectives are achieved within the time interval. There are various types of approaches
of entrepreneurship which are discussed below-
 Sociological approach- It is a type of approach in which entrepreneur
entrepreneurship deals with social as well as cultural factors which are responsible for
growth of entrepreneurship development in a society. It mainly focuses on analysing
or examining the importance of society and how it affects the entrepreneurship.
Entrepreneurs mostly come off from society and community social thinking of an
individual towards becoming entrepreneur (Shafique, 2018).
 Psychological approach- It is another approach which is used or linked to
entrepreneurship and shows that entrepreneur has a different psychological mind set
such as they are motivated achievement oriented and have an imaginative skill in their
behaviour. Leadership business organisation uses psychological approaches most of
the time to understand the behaviour and characteristics of leaders so that relationship
between employer and employee.
 Political approach- It is a kind of approach in which entrepreneurship deals with the
problems involved in interrelationship between entrepreneurship development and
state of a country in viewpoint of the development of entrepreneurs.it is often seen
that political conditions in a particular country affects the entrepreneurship and wider
level.
 Composite approach- This is a different approach in which it reflects that the above
explained approaches does not define the entrepreneurship states that entrepreneur.
Leadership approaches-

In every organisation leaders play important role growth and development of a
business. Every leader in works in an enterprise with different mind-set skills and strategies
according to the leadership style or approaches which are used by them in most efficient way.
They are most influential part of the company because the influence decision of employees
stakeholders etc. Which is beneficial for this growth. Basically there are several types of
leadership approaches which are being used by Tesco leaders and are mentioned below-
Autocratic leadership- It is a type of approach in which leader has all the power and
take decisions without consulting to anyone. This approach is also known as leaders centred
style because leader has power of choosing what is right and wrong according to which
control is placed over employees to get the work done in effective way. In this type of
approach subordinates are bound to obey the rules and decisions of their leader according to
which they have to complete their work.
Democratic style- This approach is different from autocratic style because under this leader
and provide higher authority to their team members. Decision making process is done and
final decisions are only made after taking advice of concert from every team individual
member. This leads to increase of high moral and motivation within the group. It is mostly
used in medium size based enterprises because they are focus towards their subordinates and
do not hesitation to take suggestions from employees (Esmer, 2017).
Laissez Fair Style- It is a type of a style approach which is used by leader in which
they give complete freedom to employees to work according to their own way and process. It
is used by Tesco leaders through which they are able to engage employees at workplace in an
appropriate manner which news to hire work efficiency level as well as productivity. This
type of approach makes it easy for employee to develop their skill and mind-set by their own
which also leads to improvement in understanding complex problems, enhances self-
confidence.
Above explained paragraph shows that, these approaches are necessary to be used by
leaders because without these methods it is not possible for them to influence decisions of
employees in proper manner.
Operation and leadership business organisation-
Operation the business are important to be considered because their reflect how
resources activities and other functions are carried as I am working in the Tesco as a software
Engineer operation in this company are being mostly handled and managed by manager of
department (van der Walt, 2019). The operation department of a company is highly effective
and well organised and they are aware about their which help them to complete given task on
time. It is essential to focus on radiation within a business organisation because the person
who motivate and encourage employees to produce more efficient and higher productivity.
Business organisation uses and traditional approaches as well as with proper conditions
through which they are able to develop business applications at global level.

The above matter shows that operation within of business environment is important to
be analysed because without operations and functions it is not possible for business venture to
carry out their activities in market. Tesco has wide range of operations because they are
located at global level and manager of company are able to carry out on these operations in
well organised way.
Demonstrate the skills and attributes required in the leadership, operation and management of
entrepreneurial organisations and produce an innovative and viable business plan
In leadership various types of skills as well as attributes are required without which it
is not possible for a leader to execute their leadership style in business ventures.
Skills-
 Communication skills- Leadership it is being considered as most important skill
which is required because I need a has to communicate between employer as well as
employee and understand their way of communication so that better results are
achieved. With help of communication skills it is easy to make other understand
everyone point of view.
 Problem solving skill- It is another important skill which is Miranda ship as because
a leader is a mediator between employee and employee and they are responsible for
solving problems on issues between each other. So, a leader is needed to implement
effective strategy tactics to solve issue of both the parties in effective way (Bligh,
2016).
Operation and management of entrepreneurial organisations
 Market research skills- This is been considered as important skill which is required
in operation and management of entrepreneurs organisation because with the help of
market research skills it is easy to gain information about the trends and changes in
market which can be used for producing effective operational activities.
 Time management skills- In an operational management of an organisation, it is also
needed at priority level because multitasking task to be performed and it is important
to manage time at every level of aspects. Time management skills it is easy to
manager every allocated task and resources within time interval which leads to
elimination of ample number of problems during the process (O'Brien, 2019).
Business Plan
In an enterprise planning is important because without implementing a plan it is not
possible for entrepreneurship for entrepreneur to successfully run their business activities in
market. There is a need for a business plan because it shows what actions activities resources
or staffs are needed to complete a project or mission and how much time it will be taken to
complete. Moreover in this business plan to carry out the business idea specific budget has
been set of $15000.
SECTION TASK 1 TASK 2 TASK 3
Business is about online To hire To determine the

Business
description &
Vision
groceries to which
deliver products and
services to all urban and
rural regions with free
delivery of services and
variety of alternative
options.
Main version of these
businesses to help
middle class income
people to enjoy and
increase their standard of
life.
knowledgeable
employees who can
generate leads and as
well as promote the
business at wider
scale (Ivanisevic,
2016).
impact of market of
business and revise
the strategies.
Target Market Target market of this
business is based upon
variable and target
people are of age 10-40
year old age people.
In this section, task
will be to understand
the need an actual
requirement of
people in both rural
as well as urban areas
so that products/
services can be
delivered
accordingly.
None
Performance
analysis
In this task, main work
will be to analyse and
examine the impact of
business on target
audience so that
performance of
determined by using key
performance indicators
HR manager of
company will be
regard to outline all
the weak and strong
areas where this is
need improvement.
In this section, HR
department will give
a final decision about
whether the business
idea is or can be
effectively processed
further according to
the plan or not.
Final strategy
In this section final
strategy which will be
used for developing
mission and vision will
be adopted after a deep
market research analysis.
None The manager will be
responsible for
adopting final
strategy which will
increase the
productivity of
business at higher
scale and changes
will be made
according to the final
adapted strategy.
Financial
resources
This is most important
section of business plan
because in this financial
resources and capital
which will be required
for implementation of
Idea will be determined.
The accounting team
will Prepare a short
term budget plan so
which financial
resources will be
used in most efficient
manner (Watson,
2018).

Therefore after analysing business plan it is stated that it is important for entrepreneur
to prepare a business plan so that everything is carried out in systematic manner. With the
help of market analysis, it will be easier to implement plan for new business idea (Root,
2018).

CONCLUSION
After a brief analysis of report, it has been concluded that entrepreneurship and
leadership to major concept which are focused by entrepreneur. This report gives the brief
information about how this concept of leadership can be used incorporate work to achieve
desired goals. Furthermore, decisions have been made about different types of approaches,
operation and leadership business organisation. Therefore it has been evaluated that it is
necessary to have an appropriate knowledge and market information about these sectors so
that experience is used appropriately.

REFERENCES
Books & Journals:
van 2020. The future of global leadership is entrepreneurship. HR Future, 2020(May 2020),
pp.38-39.
Shafique, 2018. Linking transformational leadership, absorptive capacity, and corporate
entrepreneurship. Administrative Sciences, 8(2), p.9.
Esmer, 2017. Entrepreneurial leadership: a theoretical framework. Mehmet Akif Ersoy
Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 4(2), pp.112-124.
van der Walt, 2019. Western secular theories and muted Christian approaches to leadership in
Africa. Journal for Christian Scholarship= Tydskrif vir Christelike
Wetenskap, 55(3-4), pp.59-84.
Bligh, 2016. Introduction: Exploring compelling contexts through paradox, tension, and new
approaches to leadership. In Leadership lessons from compelling contexts. Emerald
Group Publishing Limited.
O'Brien, 2019. A critical review of learning approaches for entrepreneurship education in a
contemporary society. European Journal of Education, 54(4), pp.525-537.
Ivanisevic, 2016. Business plan feedback for cost effective business processes. Advances in
Production Engineering & Management, 11(3), pp.173-182.
Watson, 2018. An exploration of the Business Plan Competition as a methodology for
effective nascent entrepreneurial learning. International Journal of Entrepreneurial
Behavior & Research.
Root, 2018. Chief Justice Leadership: A Brief Sketch of Its Landscape, Structure, and
Operation. Journal of the Indiana Academy of the Social Sciences, 21(1), p.45.
Thanajiratheept, 2018. Influence of supervisors’ behavior leadership affecting working
motivation of ground operation employees and organizational effective of a low cost
airline (Doctoral dissertation).