Leadership Styles and Entrepreneurial Qualities: Reflective Report

This report provides an analysis, understanding, and insight into leadership styles and entrepreneurial qualities. It discusses transformational, participatory, and transactional leadership styles, highlighting their positive and negative impacts. The report also explores key entrepreneurial qualities and characteristics such as self-restraint, risk-taking capacity, innovative thinking, reliability, prioritization, persuasiveness, organization, value focus, and collaboration. It concludes that both leadership styles and entrepreneurial characteristics are crucial for success in forming and managing a business entity, emphasizing the importance of social influence and effective resource management. Desklib provides students with access to similar past papers and solved assignments.

Individual Reflective Report
Main

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Analysis, understanding and insight of both leadership style and entrepreneurial qualities and
characteristics..............................................................................................................................1
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship considered as the concept of forming and managing a business entity for
gaining profitability through undertaking various risks within corporate world. Moreover, this is
also regarded willingness to initiate new ventures. Additionally, it is observed as the change, that
usually entail the risk beside what is generally encountered in initiating a ventures that can
involve other values in comparison to economic ones. In addition to this, leadership is also
defined as procedures of social influencing wherein individuals may enlist the assistance as well
as supports of others in attainment of common activities. This is crucial managerial activities
which aids in guiding an entity’s resources for developed effectiveness and attainment of targets.
The aim of this report is to analysis, understands and insight of both leadership style as well as
entrepreneurial qualities and characteristics.
MAIN BODY
Analysis, understanding and insight of both leadership style and entrepreneurial qualities and
characteristics.
Leadership is undertaken as the skills by that this become competent to motivates
individuals development for performing the closer task to attain is not uncommon objectives
within organisation. Additionally, the style of leadership is used into firm to renders guidance to
personnel, for implementing strategies along with planning to inspire the firm’s structures of
individuals. In respect of different entity its leaders may opt several style of leadership that
would assists them to successfully manage its several practices within organisation and direct its
followers or team towards attainment of desired targets. Therefore, those styles of leadership are
described below:
Transformational leadership style: This is regarded as the style of leadership that would
motivate optimistic changes into those staff who follow. Moreover, through adapting particular
form of leadership style its leaders are much energetic, passionate and enthusiastic. Additionally,
this kind of leaders is do not only focused as well as includes into procedures but it would also
concentrates upon assisting each team members to success. In respect of firm, it staff would
follow its leaders that would inspire them to perform with higher effectiveness. This is the
evaluation which its leaders would develops vision that depends upon business requirements as
1

well as direct its workers towards attainment of that vision. These have both adverse and
affirmative impact upon firm that are described below:
 Positive impact: This would aids in developing a stronger relation as well as inspires
collaboration that would encourage its staff or followers towards attainment of objectives.
Additionally, the particular for of leadership style render autonomy to workers off firm to
effectually and efficaciously perform its works. Moreover, respective style of leadership
would also drives towards development, empathy and creativity upon groups that would
aids leaders to forms a healthy surroundings into firm.
 Negative impact: This leadership style would develop a various pressure upon leaders,
who desires to drives towards leadership that would required to drives towards followers.
Additionally, this would cause feelings of instability while disrupting positions.
Participatory leadership style: This is considered as one of the effective style of leadership
wherein whole members of firm perform together as well as all are incorporates into decision
taking. Moreover, this is also undertaken as democratic style of leadership. Additionally, this
was evaluating that particular form of leadership style would encourage the staff much and
develop a stronger relationship among leader and workers. In regards of organisation, through
adapting specific leadership style its leaders are not become competent to encourages its staff
and forms effective relationship through including its followers into procedures of decision
making. Also, this might have negative and positive impacts that are described below:
 Positive impact: This would assists firm and individuals both to obtain variety of options
as well as innovative ideas by that it may undertakes appropriate decision which would
aids in attaining competitive edge within marketplace. Additionally, this would drives
towards gaining high group involvement as well as productivity those outcomes in much
innovative solutions for particular issues.
 Negative impact: Within particular form of leadership style, the participation of various
individuals would occurs much communication gaps as well as difficulties. Additionally,
when whole staffs are incorporated into procedures of decision making thereafter this
would quite tough for leaders to fastly takes essential decision as it taken much time.
Transactional leadership style: This is undertaken as effectual style of leadership that is
described through controlling as well as business short term planning. Additionally, this is
evaluation that leaders who would adapts particular forms of leadership into firm would depends
2

upon punishments and rewards system for encouraging its staff towards the task. This is the
determination which its leaders would renders appropriate rewards to its staff as well as
anticipates than into exchange its followers that would perform along with its higher
performance level. So, this have both adverse and affirmative impacts:
 Positive impact: This has been analysed that particular forms of leadership style is much
effectual for appropriately towards short term targets. Also, it would aids into clearly
describes the anticipated attitudes from group members due to the rewards and
punishment system.
 Negative impact: Respective style of leadership limits the innovation, development,
initiation and discourage for that who are seeking for personal and professional
opportunities.
Entrepreneurial qualities and characteristics
Entrepreneurship considered as the concept of forming and managing a business entity
for gaining profitability through undertaking various risks within corporate world. Moreover, this
is also regarded willingness to initiate new ventures. Additionally, it is observed as the change,
that usually entail the risk beside what is generally encountered in initiating a ventures that can
involve other values in comparison to economic ones. So, some entrepreneurial qualities and
characteristics are discussed below:
Self-restraint
This is one of the most fundamental qualities of an effective successful entrepreneur. In
the event that a business visionary can achieve fundamental assignments (whether or not he is
feeling like it), then, at that point, he will actually want to make higher progress. Self-control
essentially means to dominate the internal identity and inward feelings to create an awareness of
certain expectations of taking care of business, which cultivates self-bearing.
Risk taking capacity
Business venture is tied in with facing challenges. successful entrepreneur can face more
prominent challenges to make more noteworthy progress, yet not all daring people are fruitful
business people. An effective business visionary knows when to face challenges and which
dangers will be gainful or unsafe to the organization or himself. All business visionaries plan
prior to facing challenges and make an arrangement B (in the event of any deficiency of incident)
and lay out an appropriate ground for the consequences of the dangers.
3

Innovative reasoning
A successful entrepreneur is an innovative mastermind with heaps of thoughts
continually coursing through her brain. This intense capacity to consider a wide scope of
groundbreaking thoughts assists a business person with starting various sorts of business in a
special, innovative way.
Reliability
Reliability is the most fundamental and fundamental nature of a successful entrepreneur
in light of the fact that even successful entrepreneur experience disappointments and obstacles.
Yet, with ingenuity, you're ready to pick yourself back up and continue to move towards your
objectives.
These five qualities will assist you with turning into the effective business visionary you
mean to be. Search for these characteristics in itself, and keep on advancing every day to assist
yourself and your organization.
Entrepreneurial characteristics
Ready to Prioritize
Most business people have their heads on a turn; perhaps the most troublesome
undertakings business person face is the prioritization of their thoughts and activities. While it's
not difficult to get diverted and buried in subtleties, a decent business person can focus on what's
significant. A capacity to think plainly and focus on is vital to progress.
Persuasive and Inspiring
The present chatter about hazard and disappointment can be deterring, however we
realize there are a lot of up-sides of business venture also. One of the best time characteristics of
the fruitful business person is the manner by which rousing and motivating they can be. This
comes from having a better than average of what's working and what's going right, and the
capacity to empower a greater amount of that from their group.
Organized and Consistent
It's simple for business people to move past energized, bringing about very fast, wear out
speeds, trailed by mind-desensitizing breaks in the activity. Most representatives are anxious by
timetables and jobs that don't fall into organized and steady rhythms. For what reason should all
business visionaries think often about the feelings of anxiety of their representatives?
Philanthropic reasons to the side, concentrates on show that blissful workers are more useful.
4

A successful entrepreneur has the capacity to shape schedules, cycles, and rhythms that
empower their activity to murmur along at a pleasurable and sensible speed. A steady,
supportable activity permits representatives to live sound, blissful lives with sensible degrees of
stress.
Values Focused
For one more tick in the "cheerful representatives" segment: it's vital to drop
compulsiveness, and on second thought cultivate a culture that advances learning, improvement,
and development. To develop and improve, representatives can't be reluctant to concede mix-ups
or call attention to what's not working. Make the upsides of the organization clear so everybody
is urged to run after those qualities and decrease conduct that is counter-useful.
Cooperative
Entrepreneurs are a normally aggressive pack, however amusingly, the characteristic that
enables fruitful business people a leg to be cooperative also. An effective business person isn't
apprehensive about organizations or other cooperative method for acquiring foothold in jam-
packed markets; she/he knows when to contend and when to work together. They additionally
energize a cooperative workplace so representatives are happy with cultivating the
accomplishment of the organization in general, rather than attempting to take each other out at
the knees to excel.
CONCLUSION
As per the above report, it has been concluded that style of leadership and entrepreneurial
characteristics and qualities are crucial. As entrepreneurship is the concept of forming and
managing a business entity for gaining profitability through undertaking various risks within
corporate world. Moreover, this is also regarded willingness to initiate new ventures.
Additionally, it is observed as the change, that usually entail the risk beside what is generally
encountered in initiating a ventures that can involve other values in comparison to economic
ones. While, leadership is the procedures of social influencing wherein individuals may enlist the
assistance as well as supports of others in attainment of common activities. This is crucial
managerial activities which aids in guiding an entity’s resources for developed effectiveness and
attainment of targets.
5

6

REFERENCES
Books and Journal
Al-Tit, A., Omri, A. and Euchi, J., 2019. Critical success factors of small and medium-sized
enterprises in Saudi Arabia: Insights from sustainability perspective. Administrative
Sciences, 9(2), p.32.
Chen, L., Qiu, Q., Jiang, Y.U., Wang, K., Lin, Z., Li, Z., Bibi, F., Yang, Y., Wang, J., Nie, W.
and Su, W., 2019. Large-scale ruminant genome sequencing provides insights into their
evolution and distinct traits. Science, 364(6446), p.eaav6202.
Di Gregorio, A., Maggioni, I., Mauri, C. and Mazzucchelli, A., 2019. Employability skills for
future marketing professionals. European management journal, 37(3), pp.251-258.
Goryushkina, N., Voinova, N., Voronkova, O., Sitnov, A., Shichiyakh, R. and Gordeyeva, O.,
2019. Theoretical aspects of entrepreneurial education for hospitality industry. Journal of
Environmental Management & Tourism, 10(4 (36)), pp.835-841.
Guzmán, V.E., Muschard, B., Gerolamo, M., Kohl, H. and Rozenfeld, H., 2020. Characteristics
and Skills of Leadership in the Context of Industry 4.0. Procedia Manufacturing, 43,
pp.543-550.
Halberstadt, J., Timm, J.M., Kraus, S. and Gundolf, K., 2019. Skills and knowledge management
in higher education: how service learning can contribute to social entrepreneurial
competence development. Journal of Knowledge Management.
Varadarajan, R., 2020. Customer information resources advantage, marketing strategy and
business performance: A market resources based view. Industrial Marketing
Management, 89, pp.89-97.
Wales, W.J., Covin, J.G. and Monsen, E., 2020. Entrepreneurial orientation: The necessity of a
multilevel conceptualization. Strategic Entrepreneurship Journal, 14(4), pp.639-660.
7