Entrepreneurial Leadership Report: Primark's Business Strategy

This report delves into the multifaceted aspects of entrepreneurial leadership within the context of Primark, a fashion retail company. It explores leadership styles, emphasizing the importance of clear vision, effective communication, and team motivation for organizational growth. The report examines business organization and culture, highlighting the significance of values, vision, and systems in fostering a healthy work environment and retaining quality employees. It further analyzes business sustainability and growth, discussing the application of the Ansoff Model and the importance of adapting to foreign market regulations. Finally, the report addresses corporate governance, emphasizing the need for strong leadership, action plans, and adherence to ethical principles for successful overseas expansion. The report provides a detailed overview of the factors influencing Primark's business strategies and offers insights into leadership development and organizational management.

Entrepreneur Leadership

Table of Contents
Introduction......................................................................................................................................1
1.Leadership ....................................................................................................................................1
2. Business organisation and culture:...............................................................................................2
3. Business Sustainability and Growth:...........................................................................................4
4. Corporate governance: ................................................................................................................5
Conclusion.......................................................................................................................................6
REFERENCES................................................................................................................................7

Introduction
Entrepreneurship leadership its a organisation of several individuals who gather together
to attain a common aim with the help of entrepreneurial behaviours like understanding future
risks, discovering prominent opportunities & attaining, taking charge of team responsibilities and
making decisions beneficial for attaining goals. This type of leadership focuses on
entrepreneurial personal and team who put their whole creative and managerial perspective
together to create an institution. These skills are used organisations where, entrepreneurial
leadership is missing and repossessed by other things like decreasing risk factor and following
hierarchy structure. Primark is an fashion retailer organisation based in Dublin, it was found in
year 1969 by Arthur rayon. It offers various range of products like clothes, footwear, home ware,
accessories and beauty range for all genders and age groups type. The following file will briefly
elaborate in four major headings mentioned below.
1.Leadership
According to (Dedahanov and et. al., 2016) Leadership is a ability which an individual or
a group of individual which influence the followers or other team members in the organisation
hence leaders should have a clear vision and should provide guidelines to their teams in effective
manner and more over it necessary to have leaders in the organisation so that group or staff can
be guided in proper way and more over can lead to achieve high growth of company. In context
to Primark company need to enhance the leadership skill so that organisation can work in
effective manner. Leaders should communicated their objectives and ideas to its team members
so that work can be done in smooth way. A good leader which motivate their group members and
guide them to achieve their targets and more over it is important tool which help company to
grow and helps to meet with rivals in the market.
Healthy relation between teammates and leaders which play an important role for identify
growth of company. A sound leaders guide their followers by provide a route map and assigning
the roles and duties which will motivate their members in proper manner. As a Primark company
which is deciding for merger then leaders of company should some of the skills and approaches
which are been discussed below(Galloway, Kapasi and Sang, 2015).
Creativity should be important factor which should be used leaders for enhancing the
growth of staffs. Proper planning which can help the leaders to run the business smoothly. Hence
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leaders should make a strategy plan of action for guiding the team and encouraging and making
familiars with working environment. Leaders main role is need to motivate and encourage their
staffs so that they can give good result. As a good mentor leaders have to teach their staffs about
working skills and behaviour which will lead to higher growth(Godwin, Neck, and D’Intino
2016)
The important quality of leaders is team building, all members in team has different
prospective and ideas all of them should be treated in properly in full empathy and decisions
which are taken by leaders should not hurt their feels all of above leaders guidelines should be in
systematic manner. There are various approaches which can be adopted by Primark leader that is
behavioural style approach, this approach is based on changes in different situations which help
to adapt the developing skill and aid to grow in effective manner. The behaviour approaches
which provides real marketing potentials with concern to higher growth of company and more
over leaders which guides the teams in effective way so that goals can be achieved in better way.
Hence teaching of leaders should be according to various situation atmosphere and
circumstances that when the leaders need to adopt soft skill then they should be becoming the
higher growth.
Programs which should be made according to given situation according to market
development area. Leaders should observation the team members and approach them and guide
them more over listening there issues and problem and dealing with them according to the
market situation. Task should be oriented that they should focus on information. Hence more
over Primark leaders main aim should be to guide the staffs or groups in proper way so that
teams can be aware about their duties and roles in effective manner. From all the above company
need to look after the these skills in effective manner.
2. Business organisation and culture:
The organisation culture is collaborations of value, visions, norms and systems that
create an internal and external environment in working environment. It is necessary that each
individual should inculcate these aspect for sustaining in any firm. The primal aim of every
organisation to retain quality workforce in an organisations(Henry and et. al., 2015)(Koryak and
et. al., 2015). If it is talked about Primark, the manager have to provide a healthy culture for
engaging and motivating employee to effectively operate business activities within an
organisation. For expanding business at overseas, the manager have given emphasis on
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important aspect like value, norms, visions and system in work culture. Some of these aspects are
mentioned below:
Organisation Vision- The fundamental requirement of growing the business is planning
visions that could be systematically achievable by the firm. The vision are designed and
discussed by top management in an organisation. The vision depends on type of business being
small, medium or large scale. When taking in considerations Primark, the leaders have to
effectively discuss plan with each subordinate, to produce quality product for attracting potential
buyers to the firm(Leitch and Volery 2017). Also, the manager need to critically analyse the
competitive market to expand the business in any industries.
Values- The values in an individual form the work culture within an organisation. The
value include behaviour, attitude, personal belief and the way of interacting with other members
working in a team or at individual level. If it is talked about Primark, the management should
focus on monitoring the behaviour of employee and accordingly implement code of conducts
that is mandatory for them to abide while working in the firm. The values aspect plays an
important role in increasing or reducing conflicts between employee. As each individual have
different perceptions about particular issue in their mindset. These initiatives taken by
management help them to retain quality staff in the organisation. This might help in improving
labour turnover rate in the industry.
System- The system aspect include a defined guidelines which include procedures that
defines several statements in documents. If the leaders adopt effective leadership style then the
business operations could smoothly takes place in an organisation. It is necessary that every
employee should follow these guidelines implemented by top manager in working environment.
When talking about Primark, the manager need to focus on critically plan the marketing
strategies, for fulfilling the gap of demand-supply of product in target market. For expanding the
business the managers need to conduct a proper research to know the current trend adopted by
society in target market(Lewis 2015).
From above detailed description, it has been analysed that organisation culture has a huge
impact on growth of business at overseas market. In reference with Primark the manager should
provide various monetary and non-monetary benefits to their employee, so that they have
financial security , while working in the firm. The internal relationship between employee have
direct influence on producing quality goods and service. Thereby serving these products to
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potential buyers in target market(Murnieks and et. al., 2016). It is necessary that leaders should
give emphasis in creating a healthy organisation culture with effective flow of communication
between the workforce. If the company wants to merge with any other firm for expanding the
business, they need to observe the culture possess by an organisation. It will help manager to hire
potential employee by providing attractive perks offered to them within an organisation.
3. Business Sustainability and Growth:
The business which need to grow and overcome the market competitors for that company
have to allocate and make proper steps to sustain in the market field. Primark which is fashion
retail company and which is need sell their products in other countries that means a higher
potential skilled employees which aid to high developing stage. In regards with Primark the
manager can adopt effective marketing strategies which include in depth analyses of target
market. This assessment could be done with use of Ansoff Model which will help to produce
quality good to attract potential buyers. This Model includes market penetration and product
development, market development and diversification hence these all factors help market leaders
in planning strategies in a systematic manner. In different foreign countries rules and policies
which affect company by which leaders need to enhance the strength and weakness of other
company will help the company to overcome with their rivals which are present in the market
filed. International business development and growth which need to taken into consideration
while launching the product in other country. The goals and objective of the company which
need to be consider by company in proper and effective manner(Sastre‐Castillo, Peris‐Ortiz, and
Danvila‐Del Valle 2015).
More over company can work according to proper allocation of work in effective manner
and business can hence the work by providing different market strategy that can be achieved by
company. Hence company have to adopt rules and regulations of foreign company in such way
that people in the market place can use product in effective manner. From above detailed
description, it has been analysed that organisation culture has a huge impact on growth of
business at overseas market. In reference with Primark the manager should provide various
monetary and non-monetary benefits to their employee, so that they have financial security ,
while working in the firm. The internal relationship between employee have direct influence on
producing quality goods and service. Thereby serving these products to potential buyers in target
market. It is necessary that leaders should give emphasis in creating a healthy organisation
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culture with effective flow of communication between the workforce. If the company wants to
merge with any other firm for expanding the business, they need to observe the culture possess
by an organisation. It will help manager to hire potential employee by providing attractive perks
offered to them within an organisation(Van Hemmen and et. al., 2015).
4. Corporate governance:
Its an amalgamation of rules and legislations by which any business is governed,
controlled and regulated. It includes all internal and external elements which affect upon
companies stakeholders, members, government regulators and administration. Primark is a well
established firm in their home country and now they want to expand overseas, the major
elements missing in this firm is leadership quality and entrepreneurial governance. Its a prime
factor to induce in organisation to expand overseas & gain stability working in different zone.
The company should create action plans for any repercussions also, they should include
performance measurement of company to evaluate their major factors of sinking in market.
Another element to include is dividend polices of firm, so they can attract more investors in their
company. The board of director are majorly responsible for making a plan of governing the
organisation with plans which attain the goals with qualitative and quantitative work. The best
working is to provide a well defined structure which works as advantage for all members. This
also ensures to maintain standards and levels of organisation and correct practice of all laws and
legislations of country(Zaech and Baldegger, 2017). If the company has bad governance it will
create a bad structure of firm and damage goodwill of the firm which will eventually make
expansion a big failure for firm. Their are some basic principles which should be present in any
firm which are as following:
 treating all shareholders equally and without any misconduct.
 All obligations such as legal and social should be followed by other members.
 Board of directors should maintain accountability and transparency in firm. They should
also possess all needed skills for better of firm.
 A code of conduct should be followed and all member should be obligated to follow
them.
 All policies mentioned and norms formulated by company should be kept in perspective
before taking any action for organisation.
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Conflict bearing by the organisation is to implement a balance and minimise conflicts of
interest. It generally arises when two parties have opinions by the business which should be
constructed. Board of directors are basically a mixture of both external and internal factors for
correct governance and non-biased approach towards conflicts. Major conflicts can occur when
directors have issues with shareholders on some managerial decision another conflict can be
when multiple shareholders disagree with companies policies. All these are resolved by
governance and proper skill management of either parties between conflicts. The major benefits
of having corporate governance is that it ensures success and growth, it maintain loyalty of
investors towards company, it reduces costs, gives hike on share price and most importantly it
reduces wastage of materials, risks and any kind of mismanagement in company. Also, they
provide brand formulating & development of overall firm.
In Primark governance lacks such elements and since expanding overseas these factors
are very important to attain stability & smooth functioning. The major draw back of having a
strict governance is that they can become rigid in nature and will take way flexibility of
organisation. This feature shall be used with proper care and only should be practised by
authority and also by following all guidelines, rules and norms made by government. These shall
not be avoided while practising legal solutions in firm. These might cause issues in company
working.
Recommendation
 Their are large number of retail organisation are operating their business's at global level.
So Primark need to develop and maintain effective supply chain which ensures quick
deliver of their products to its customer's.
 It is mandatory for organisation to perform their operations according to legal rules and
regulations. Primark need to follow company act, 2006 so this is easy for them to
overcome from social and environmental issue.
 New sector is need to manage by organisation to operate their business's at significant
level. To success in industry Primark need to complete their work with eco-design and
attractive as it is running in trends.
 Large manufactures such as Primark should formulate policies to minimize impact of risk
that is related with exposure of employee's and government policies.
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Conclusion
This file comprise factor which will majorly effect in predicting Primark probability of
expanding successfully over seas. All four factors mentioned in this report which are leadership,
business organisation & culture, business sustainable & growth and corporate governance. All
these factors must be followed to get beneficial results and attain stability in other country.
Following these company will achieve its revenue target, customer satisfaction, qualitative
production and most importantly governance over companies decision making.
REFERENCES
Books and Journals
Dedahanov, A. T and et. al., 2016. Entrepreneur’s paternalistic leadership style and creativity:
The mediating role of employee voice. Management Decision. 54(9). pp.2310-2324.
Galloway, L., Kapasi, I. and Sang, K., 2015. Entrepreneurship, leadership, and the value of
feminist approaches to understanding them. Journal of Small Business
Management. 53(3). pp.683-692.
Godwin, J. L., Neck, C. P. and D’Intino, R. S., 2016. Self-leadership, spirituality, and
entrepreneur performance: A conceptual model. Journal of management, spirituality &
religion. 13(1). pp.64-78.
Henry, and et. al., 2015. Entrepreneurial leadership and gender: Exploring theory and practice in
global contexts. Journal of Small Business Management. 53(3). pp.581-586.
Koryak, O and et. al., 2015. Entrepreneurial leadership, capabilities and firm
growth. International Small Business Journal. 33(1). pp.89-105.
Leitch, C. M. and Volery, T., 2017. Entrepreneurial leadership: Insights and
directions. International Small Business Journal. 35(2). pp.147-156.
Lewis, K. V., 2015. Enacting entrepreneurship and leadership: A longitudinal exploration of
gendered identity work. Journal of Small Business Management. 53(3). pp.662-682.
Murnieks, C. Y and et. al., 2016. Drawn to the fire: The role of passion, tenacity and inspirational
leadership in angel investing. Journal of Business Venturing. 31(4). pp.468-484.
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Sastre‐Castillo, M. A., Peris‐Ortiz, M. and Danvila‐Del Valle, I., 2015. What is different about
the profile of the social entrepreneur?. Nonprofit Management and Leadership. 25(4).
pp.349-369.
Van Hemmen, S and et. al., 2015. Leadership styles and innovative entrepreneurship: An
international study. Cybernetics and Systems. 46(3-4). pp.271-286.
Zaech, S. and Baldegger, U., 2017. Leadership in start-ups. International Small Business
Journal. 35(2). pp.157-177.
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