International Leadership And Entrepreneurship Assignment

International Leadership
and Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Evaluate the specific skills required as an entrepreneur ............................................................1
Leadership style best suited to an SME start-up within the social enterprise sector .................3
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Leadership is the ability of an individual to inspire, influence, guide, encourage, motivate
followers to accomplish organisational goal or objective in an effectual and expeditious manner.
On the other hand, entrepreneurship is the potentiality of a person to create new enterprise with a
purpose of bearing all sort of challenges or threat with a view of making profit in an improved
and amended style. However, these two concepts are different in nature but it contains
inseparable and unavoidable role within competitive international business environment that help
an organisation to cope up with all existing and emerging challenges in an innovative and
creative style without any kind of obstacles (Bello, 2014). Additionally, today small business is
considered as one of the fastest growing sector compare to other industry. Therefore, it is
important for entrepreneurs and leaders to be filled with entrepreneurial skill and leadership style
which lead them to obtain profit maximisation with an optimal utilisation of resources. In regard
of this essay, it is wholly based on essay format which covers skills needed for entrepreneur as
well as identify appropriate leadership style which suit SME start up among social enterprise
sector.
MAIN BODY
Evaluate the specific skills required as an entrepreneur
As the emergence of advanced technologies and frequently changing business
environment leads company to undergoes with intense level of uncertainty that directly influence
over firm's or global business enterprise productivity. Therefore, effective skill is required for
entrepreneur which lead them to acquire longer survival among growing SME industry.
International business environment means a process of integration and interacting between
countries, economies, government across the globe without any trade barrier. Entrepreneur is a
personnel who makes an effort to organise, develop new venture assuming every risks and
benefit with an intent of achieving profit maximisation. However, for accomplishing
organisational pre determined goal within prescribed time limit, an entrepreneurial skill is an
integral element which empower every entrepreneur to generate increased level of profitability.
As the emergence of advanced technologies and frequently changing business environment leads
company to undergoes with intense level of uncertainty that directly influence over firm's or
global business enterprise productivity. Furthermore, now a days global professionals face a
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'VUCA' business atmosphere which states volatile, uncertain, complex and ambiguous
(Carvalho, Costa and Mares, 2015). Therefore, it has been examined that there is a huge need for
impressive or innovative entrepreneurial skills who can easily face any sort of threat in a better
manner. Some of the skills which is required for entrepreneur to survive among international
business environment are as follows:
Inter- personal skill: Interpersonal skill is an ability of an individual behaviour or tactics
which they utilise to communicate and interact with other people in terms of individually and in
groups. It involves a wide range of skills which centred around communication like listening,
questioning and understanding body language. Along with this, inter-personal skill is also
associated with emotional intelligence or ability to manage or understand other person's emotions
or views in a better mode. Hence, this skill is viewed as one of the major ability for entrepreneur
as it help organisation when it desires to operates its business function at global pace, they takes
an initiative to include diverse workforce who belongs to different background, culture, norms,
values, beliefs, languages and many more. Due to such working culture, the foremost issues
which globalised company undergoes is communication or linguistic barrier that directly impact
over company's decision making ability. Moreover, these barrier leads to several sort of
difficulties among particular enterprise working atmosphere are conflicts, misunderstanding,
ambiguity, misconception and so on that results in decrease level of productivity. Along with
this, communication is regraded as one of the initial and indispensable potentiality of a person in
organisation which motivate them to build a better relationship with each personnel for
improving overall performance in an effective way. Therefore, an entrepreneur must take an
attempt to enrich inter personal skill as it aid them to overcome over issues which hinder
communication among manpower and manager. Thus, by generating such working workplace
where an existence of small amount of sensitivity, respect and diplomacy in context of different
attributes of workforce which will benefit entrepreneur to avoid disputes and conflicts of interest
from its subordinates and can facilitate better workplace communication. Moreover, for creating
diverse workplace more effective and productive then entrepreneur put their attention over
actively listening skill in order to bring strong or productive communication channel within
business premises without any hindrances (Cascio and Boudreau, 2016). Therefore, interpersonal
skill assist entrepreneur to manage various sort of employees in an effective manner that lead
them to acquire long term survival within growing SME industry.
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Flexibility: If an establishment function its functional areas at international level, then
there is a highly need of strong and wide social network of connection in order to know about
opportunities, threat inside industry. This ability is relate with those area where an individual
generate and maintain professional connection abroad for acquiring best position within market.
Additionally, this ability help entrepreneur to determine present and upcoming marketplace trend
or demand as well as encourage them to take best strategic decision in order to acquire
sustainable profitability and impressive sales performance within stipulated period of time
without any obstacles. Moreover, enterprise can reach a wider range of population or client that
strengthen firm's overall performance and also enlarge its market size or share in an trenchant
and efficient manner in a desired period of time. Therefore, flexibility skill enable entrepreneur
to easily adopt any challenge or threat of SME sector that help hem to take corrective course of
action for obtaining best position within competing marketplace.
Emotional intelligence: To obtain attractive or impressive success and growth in global
business environment, it is not just enough to generate or build strong network of connection but
an entrepreneur is also need to work well with others. In simple terms, emotional intelligence
refers to potentiality of a person to identify and manage own emotion and also other emotions or
values in a ethical manner that enlarge organisation profit margin in a better manner. However,
to gain sustainable growth within competitive industry, the ability of emotional intelligence is
considered as fundamental element in today's business world as it help entrepreneur to manage
every personnel properly and render suitable solution to complex business situation. In context of
operating business functions at globalised pace, adoption of innovation and novel ideas plays a
significant role which can acquire from team work because team is refer to those determinant
where two or more individuals joint together and each of them carries unique set of perception or
ideas that enable company to enhance its profit margin. However, emotional intelligence skill
assist entrepreneur to obtain varieties of novel ideas or concepts which empower them to make
corrective course of action in order to addresses difficult or complex business problems in an
advanced or creative style. Due to which, entrepreneur can gain sustainable growth in competing
SME sector in an innovative style.
Henceforth, the preceding explained skill are seen as essential component for very
entrepreneur as it aid them to examine existing market scenario and also assist them to take
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effective decisions in order to gain competitive advantage within current international business
environment in an improved mode.
Leadership style best suited to an SME start-up within the social enterprise sector
In relation to UK, small business are regraded as the backbone as it drive growth,
enhancing new markets, generating employment and thus it's contribution plays a significant
role. Hence, small business are refer to those enterprise where 250 employees or less than that
employs with a goal of accomplishing pre determined objective or vision in a improved way
within stipulated period of time. On the other hand start up companies are viewed as a temporary
organisation that is designed to search for a repeatable and scalable business model. However,
even thought these two business are different in nature but they contains some aspect of
similarity i.e. both are incorporated or found by entrepreneur as well as are small in revenue and
staffing (Demirtas and Akdogan, 2015). In addition to this, every entrepreneurial venture or
organisation has common purpose and that is generating profit in an effectual and expeditious
manner within given time frame. Hence, in achieving the same, impressive and effective
leadership style contains huge role as it enable management to achieve its desired goal in a better
way. Apart from this, social enterprise sector are related with those market which are established
with a purpose of serving society by rendering several welfare program in order to improve the
living condition of community or society. Thus, leadership means it is a capability of person to
influence, motivates, inspire, empower the followers in order to put best contribution towards an
attainment of increased level of productivity and proficiency rate.
In addition to this, there are different types of leadership style which is signified as an
integral component for enriching the brand value of an establishment within the existing industry
as well as sustainability. The common leadership style are Trait Theory, Behavioural Theory,
Contingency or Situational Theory and Transactional vs Transformational Leadership
Theory. Each leadership style has unique set of role and responsibilities and can use in
different circumstances which makes them differ from each other. In regard of SME start up, it is
signified as most revenue generating sector in today's global business environment as they render
enormous employment opportunities which enhance the living condition of community or
society in a better way. Therefore, highly skilled and talented leader or entrepreneur are required
who can adopt any kind of business environment in a better manner as well as can be able to
examine market scenario in order to implement best decisions. Due to such activity, it help
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leader to make use of available resources that lead them to accomplish profit maximisation in an
improved mode (Dunne and et.al., 2016). In terms of Trait Theory , this style signifies that
leader contains different kinds of skills or abilities which reflect in variety of business situation
in terms of decision making and implementing into action for an accomplishment of enterprise
long term objective in a better way. Hence, trait theory benefit leader in managing every business
complex circumstances as well as enable them to make quick decision in a better way. Due to
which, an entrepreneur and leader can improve their capability to acquire any sort of
modification as the SME sector grows or enhance its market size. (Sun and Yang, 2014.).
The another style of leadership is Behavioural Theory which is relate with those factor
in which it determines leader attitude, behaviour or perception in different or difficult situation
that has direct impact over workforce and workplace environment. Under this aspect, it
highlights major focus on behaviour or attitude of a leader rather than trait or characteristics of
an individual as it believes that successful leader is the one who can smoothly manage any kind
of challenge and also can adapt to any circumstances for attaining better working culture without
harming employees morale. Along with this, it mainly focuses or centring over group activity i.e.
formation of team for gaining competitive advantage in an effective and productive manner
without less intervention of conflict or disputes. Therefore, implication of behavioural theory
assist organisation leader to handle difficult situation of SME's business environment in a better
manner as well as can impose best strategic conclusions that improves its overall performance in
an improved manner. Moreover, it also empower leadership to identify the requirement of
company and based on that it aid them to allocate resources properly that enable SME start up to
make use of all available growth opportunities in an improved manner so that easily reach to
large number of population as well as can strengthen its sales performance in a stipulated time
frame.
In context of Contingency or Situational Theory , it relate with those aspect which
signifies that each and every leader ability or capability reflect in varies of situation. Moreover, it
illustrates that leader's action or attribute varies as per the circumstances or situation and also
help them to come up with best decisions that lead them to obtain better workplace atmosphere.
(Fozia, Rehman and Farooq, 2016). Hence, under this style, it majorly centring over that leader
behaviour or attributes must change according to the issues in order to bring best or fair solution.
It provide benefits to leadership in enhancing the SME's productivity and profit margin in a
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growing stage. In addition to this, such style are able to empower employees or manpower to
examine the situation as well as determine what need to be done and how to accomplish the same
without harming each other morale or emotions.
The remaining style viz. Transactional style are also refer as managerial leadership
which centring on the role of supervision, organisation and group performance. Therefore, leader
who prefer to imply such leadership style they mainly focus on specific tasks and utilise rewards
as well as punishments system to encourage followers. In relation to acquire sustainability within
SME industry, transactional leadership aid leader to determine market requirement and based on
that utilising available resource at optimal manner and also help them to retain its employees
for longer duration by providing suitable reward system. With the help of this, transactional
leadership can acquire can maintain its brand value within growing SME industry in an
innovative and creative way.
On the other hand, transformational leadership are related with those style in which
leader makes an effort to inspire, motivate, encourage its employees or manpower to identify
innovative and novel ideas for obtaining impressive success in the upcoming future with an
innovative or creative style. In regard of obtaining sustainable profitability, transformational
leadership takes an initiative to render enormous growth platforms to its personnel which
motivates them to put their best effort for an achievement of business desired aim in a stipulated
period of time. Moreover, it help leader to survive competitive in SME's growing phase for
longer period of time in an improved way.
Henceforth, each leadership style has its own policies or process and also it's application
are different from each other for gaining competitive advantage in a desired time period.
Therefore, proper identification of business circumstances and application of appropriate
leadership style assist SME start up to acquire best position within competitory industry in
prescribed time frame. A minor mistake may lead to drastic challenge and issue which wholly
hampers the working cycle of small business and also fails to recognise the need of society as
well as personnel. Henceforth, as per the deeper evaluation of above discussed various
leadership style, transformational leadership is regarded as one of the most effective types and
leads to productivity, better contribution from group members, clarity in communication and
enhance group morale (Stephan and Pathak, 2016). Along with this, transformational leadership
style also encourage employer and employee to utilise different growth platforms that lead them
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to attain high level of sales performance as well as improved brand image among globalised
environment. Furthermore, it strengthen the productivity and profitability of SME start up as it
aid them to gain increased level of manpower satisfaction and motivation by enhancing the living
standard of community or society in an amended mode. Henceforth, these leadership style enable
leader to be competitive as well as encourage them to impose innovative ideas or views in order
to gain sustainability within global business environment.
CONCLUSION
The above report has been summarised that for surviving within current competitive
global business environment, an effective entrepreneurship and leadership skill is required that
lead an establishment to gain competing advantage in an improved mode. Moreover, there are
various skill which is an essential for entrepreneur such as risk taking, innovative, critical thinker
and many more for acquiring best position within marketplace i.e. small business. Along with
this, different leadership style contains their own roles and responsibilities that empower leader
or entrepreneur to maintain a better relationship with employees for attaining sustainable
profitability. Henceforth, both entrepreneurship and leadership plays a equal role for the
development and enhancement of SME start up's productivity or proficiency ratio.
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REFERENCES
Books and Journals
Bello, B., 2014. Growth strategies for very small organizations: A case study of a very small
entrepreneurship. International Journal of Organizational Innovation (Online). 6(4).
p.51.
Carvalho, L., Costa, T. and Mares, P., 2015. A success story in a partnership programme for
entrepreneurship education: outlook of students perceptions towards entrepreneurship.
International Journal of Management in Education. 9(4). pp.444-465.
Cascio, W. F. and Boudreau, J. W., 2016. The search for global competence: From international
HR to talent management. Journal of World Business. 51(1). pp.103-114.
Demirtas, O. and Akdogan, A. A., 2015. The effect of ethical leadership behavior on ethical
climate, turnover intention, and affective commitment. Journal of Business Ethics.
130(1). pp.59-67.
Dunne, T. C and et.al., 2016. The impact of leadership on small business innovativeness. Journal
of Business Research. 69(11). pp.4876-4881.
Fozia, M., Rehman, A. and Farooq, A., 2016. Entrepreneurship and Leadership: An Islamic
Perspective. International Journal of Economics, Management and Accounting. 24(1).
pp.15-47.
Stephan, U. and Pathak, S., 2016. Beyond cultural values? Cultural leadership ideals and
entrepreneurship. Journal of Business Venturing. 31(5). pp.505-523.
Sun, M. and Yang, Y., 2014. Principals’ transformational leadership in school improvement.
International Journal of Educational Management.
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