Leadership versus Entrepreneurship 3.pdf

This PPT highlights about the various Leadership Styles and Traits

1. Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES
Entrepreneurship

2. Entrepreneur
Individual who takes risks
and starts something
new
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

3. Characteristics of an Entrepreneur
•Initiativetaking
•Organizingandreorganizingofsocialand
economicmechanisms toturnresourcesand
situationstopracticalaccount
•Acceptanceofriskandfailure
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

4. Entrepreneurship
Itistheprocessofcreatingsomethingdifferent
withvaluebydevotingthenecessarytimeand
effort,assumingtheaccompanying financial,
psychological,andsocialrisks,andreceivingthe
resultingrewardsofmonetaryandpersonal
satisfaction.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

5. Entrepreneurial Decision Making
Factors to Form new enterprise
Desirability of new venture formation
1.Cultural
2.Sub-cultural
3.Family
4.Teachers
5.Peers
Possibility of new venture formation
1.Government
2.Background
3.Marketing
4.Financing
5.Role models
Change from present lifestyle
Work environment disruption
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

6. Types of Start-ups
LifestyleFirm:
Asmallventurethatsupportstheowneranddoesnotgrowbig
withemployees.
Runbyitsfoundersprimarilywiththeaimoflivingormaintaining
acertainlifestyle.
Eg.Blogging,Vlogging,Youtubing,Photography,Writing,
Teaching,Cooking,Training,etc.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

7. SmallBusinessStartups:
Thesebusinessesarecreatedbyregularpeopleandareself-
funded.
Businessownersusuallybootstrapsandself-financethese
startups.Thismeansthattheyhavelesspressuretoscale.
Eg.Hairdressers,Grocerystores,TravelAgents,Bakers,etc.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

8. FoundationCompany:
R&Dfirmthatusuallydoesnotgopublic.
Anonprofitcorporationoracharitabletrustthatmakesgrantsto
organizations,institutions,orindividualsforcharitablepurposes
suchasscience,education,culture,andreligion.
Eg.Carlsberg,Heineken,Ikea,Rolex,etc.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

9. HighPotentialVenture:
Thishasahighgrowthpotentialandhencereceivesgreat
investorinterest.
Quickly-growingtechnologycompaniesandlargeinternet
technologybusinesses.
Google,Tesla,Amazon,etc.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

10. SocialVentures:
Market-orientedventurecommitted tosolvecultural,
environmentaland/orsocialissues.
Ratherthanbeingdrivenbyprofit,asocialstartupiscommitted
insteadtomaketheworldabetterplace.
Eg.UNESCO,TheGatesFoundation,RelianceFoundation,etc.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

11. Role of Entrepreneurship in
Economic Development
ProductEvolution
IterativeSynthesis
-Intersectionofknowledgeandsocialneedthatstartsthe
productdevelopmentprocess
OrdinaryInnovations
TechnologicalInnovations
BreakthroughInnovations
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

12. Government as an Innovator &
Entrepreneur
Government active in commercializing technology.
Technology transfer.
Governmentcanalsoactasanentrepreneurbyproviding
taxincentives,grants,andotherformsofassistanceto
businesses.Thiscanhelpspurinnovationandinvestmentin
certainsectors.
Furthermore,theGovernment canprovideaccessto
businessfinancing,suchassmallbusinessloansorventure
capitalinvestments.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

13. Intrapreneurship
Entrepreneurshipwithinanexistingorganizationis
Intrapreneurship.
Asystemthatallowsanemployeetoactlikeanentrepreneur
withinacompanyorotherorganization.
Theseintrapreneurshipprojectsdonotrequireacapital
contributionfromtheintrapreneur.
Thisisanimportantstepindevelopingfuturetalentsand
leaders.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

14. Example1
SteveJobsand 20Apple
engineerssplitofffromAppleto
createtheAppleMacintosh
computer.Thegroupoperated
independently.
Thisgroupofcreativeemployees
created more diversityand
competitionforApple’smainline
ofproducts.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

15. Example2
Starbucks,foundedin1971hada
missiontobecomea“thirdplace”
togo,toprovidearelaxing
environmentandexperienceforits
customers.Onebaristadecidedto
startwritingthenamesofcustomers
oncups.
Theideawassharedwiththe
corporateoffice.Monthslater,this
‘first-name’approachbecamea
standardateveryStarbucksstore.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

16. Example3
DickBrams,RegionalManagerof
McDonald’s,begantryinganew
mealjustforkids.Hepitchedhis
boxedideatomanagement, and
twoyearslater,McDonald’srolled
outitsfirstcircus-themedHappy
Meal.
HappyMealshavebecome so
essentialtoMcDonald’sbusinessand
brandidentitythat3millionHappy
Mealsaresoldeveryday.
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

17. Skills Required for Entrepreneurship
Technical Skills
Business Management Skills
Personal Entrepreneurial Skills
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

18. Technical Skills
Written & Oral communication
Monitoring
Technology & Technical business management
Interpersonal
Listening
Ability to organize
Network building
Coaching
Team player
Ability to lead
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

19. Business Management Skills
Planning and goal setting
Decision making
Human relations
Marketing
Finance & Accounting
Controlling
Negotiating
Venture launch
Managing growth
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

20. Personal Entrepreneurial Skills
Inner control/ discipline
Risk taker
Innovative
Change oriented
Persistent
Visionary leader
Ability to manage change
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

21. Traditional Managers
Primary motive is promotion and moving up the hierarchy,
concerned with status
Short term focus –quotas, budgets, targets
Delegation and supervision
Averse to taking risk
Tries to avoid making mistake
Agrees with those in the upper management
Hierarchy as basis of relationship
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

22. Entrepreneurs
Primary motive is to create value and profit, not concerned
about status
Looking for survival and 5-10 years of growth
Direct involvement
Moderate risk taker
Deals with mistakes and failures
Follows dream
Transaction and deal making as basis for relationship
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES

23. Intrapreneurs
Independence and ability to advance, driven by status
Has self imposed time orientation
Direct involvement
Moderate risk taker
Able to get others to agree to achieve dream
Transactions within hierarchy
Asst. Prof. LAVANYA MANOJ
UGC NET –MANAGEMENT STUDIES