With the competition of business activities increasing in the 21 Century, entrepreneurial strategies that companies implemented has become the key factor in business development. Encouraged by many marvelous business leaders who make contribution to the accomplishment of their companies, including Jeff Bezos, Lei Jun and Mark Zuckerberg, more and more business people have an aggressiveness to achieve the success of becoming an entrepreneur and master leadership to strive for superiority and realize the value of life. This is lead to a discussion about what qualities should an entrepreneur has and can be applied to become an excellent leader. In this essay, an accepted definition of the entrepreneur will be introduced to help to show entrepreneurial …show more content…
With the capability of innovation, businessmen can develop creative products and services. Successful new business requires the entrepreneur who has the characteristics of commitment, persistence and innovativeness. (Collins et al, 1970 cited Neck, 1999) Without innovation, fantastic inventions like smart phone, which reorganizes the mobile phone industry and even change human’s life entirely would not appear. As to the study of leadership for entrepreneurs, innovativeness also has a huge effect. This is because prominent leaders would like to enhance their business by innovating products and services. Most successful leaders have the characteristics of innovativeness and creativeness which can cultivate updated cognition abilities. (Dutton, 2014) For instance, Jeff Bezos, the great leader of Amazon, has built a much more convenience online shopping circumstance for worldwide consumers by innovating the method of predictive analytics, which can introduce relative products to customers when they browse Amazon.com by analyzing their history records and shopping preferences. Inspired by the analysis strategy of Jeff Bezos, many e-commerce companies have been following Amazon to use this predictive analytics method now, such as Taobao, Jingdong and Yihaodian in …show more content…
Creating considerable value is critical for entrepreneurs’ achievement. (Navale, 2013) Entrepreneurial people need to have the pursuit and ability of adding more value to their own organization because more value can keep their organizations exist longer and obtain more reputation from the public. It is also advantageous for entrepreneurs who can add value to learn leadership because a prominent leader knows how to create more value for their company. For the purpose of acquiring value, leaders grasp any opportunity that they could use to achieve their goals. (Fernald et al, 2005) The value that leaders create include both profits and social reputation. This can be exemplified by Brad Smith, the leader of Intuit, which is the most famous software company worldwide. Although Intuit already has a market capitalization of almost 16.5 billion dollars under the leadership of Smith, Intuit has been continuing to operate many new ventures. This strategy makes Intuit became top two most admired companies in the software industry of Fortune list in 2015. (Fortune,
What makes a company great? This is one of those pithy questions--like "What is great art?" or "What is great leadership?" that defy a simple response. Are companies deemed great because they have made buckets of money, or because they have made their employees happy? Are companies great when they make an impact on Wall Street or when they make an impact on the world? As a general rule all-visionary companies jealously preserve strong, and sometimes fanatical, corporate cultures even as companies adapt to rapidly changing times. Visionary companies heavily promote executives from within, constantly set lofty goals, and surprisingly, CEO’s are rarely charismatic. Moreover, visionary companies drive to make an impact on society, not just to make profits. This research project will serve two objectives: first to define what constitutes a visionary company, and then to show a comparison between a visionary company and a non-visionary company.
The world is filled with many ambitious people looking to make a product to help the world and make a living for themselves and their families. These people are known as entrepreneurs. An entrepreneur is someone who organizes and operates a business or businesses while running the risk of losing everything to make money. One might ask why there is a risk ...
Leadership is a quality which cannot be acquired by any person from the other but it can be acquired by self-determination of a person. Leadership can best be called the personality of the very highest ability-whether in ruling, thinking, imagining, innovation, warring, or religious influencing. Leadership is practiced not so much in words a it is in attitude and in actions. Their actions leave a long lasting memory in the line of history and lead up to may events that occur today. To be a leader one will need many qualities. Leaders have a purpose and strategies to accomplish that purpose. They are driven and motivated. In the end they should be able to attain good results. These innate talents help to make up a leader that will succeed and be efficient in carrying out tasks. But, the purpose of this paper is determine what truly makes a leader successful. A successful leader should be considered more on their impact rather than their accomplishments of their organizations alone for they are not sufficient in determining the key to their success .
“…talent for organizations and management is rare among men is proved by the fact that it invariably secures for its possessor enormous rewards, no matter what laws or conditions.” (The Gospel of Wealth, New York Carnegie Corporation, New York)
All leaders start somewhere in life, whether if it’s in a garage or in the basement working with dad. There is the, one-and-only leader who took innovation through his own ideas. This leader took steps beyond his wildest dreams. This immense leader was demoted from his own company. Many say his ego got in the way of true life and visions, but this leader is the seed to the blueprints of ideas that he had created visions of a leading company. This leader created a legacy; he is the action of a revolutionary breakthrough.
New ideas can lead to programs and activities that are superior leaders in an organization. Creativity is what makes new ideas come to live in an organization, leaders often use creativity to keep the business running. The first priority of leadership is to engage the right people, at the right times, to the right degree in creative work. That engagement starts when the leader recasts the role of employees (Harvard Business School Publishing, 2015). Innovation causes leaders to have new ideas and work methods that will impact the organization in the future. A substantial leader will have an effective organization if they apply innovation and creativity to the success of the
Today’s companies become successful based on their abilities to create and manage change. They can no longer survive without “…courage and imagination – the courage to challenge prevailing business models and the imagination to invent new markets.'; As the globe continues to evolve into a marketplace with vanishing boundaries, competition becomes stronger, tighter, and smarter than ever before, ultimately forcing organizational change. The tidal strength of competition that has been upon us over the past few decades has fundamentally changed the “blueprints'; of many corporations and how they now need to be led. Businesses have awakened to the hard fact that leadership can no longer be defined by the effective management of people and systems, but most importantly by the effective leading of change. Leadership, or the lack thereof, is proving to be one of the most crucial determinants of whether organizations will survive and flourish in the next century’s business frontier.
For everyone in the business world, Mark Zuckerberg is a well-known name to them. He is an undeniably young, successful businessman. However, Zuckerberg is also a very successful leader in his own company as well as in the world. His impact from creating Facebook is more than just impressive. Zuckerberg created the social media website where people get connected virtually and led the company to incredible success. Zuckerberg’s leadership style can be seen with inspirational motivation, intellectual stimulation, and idealized influence. With all the aforementioned components, Mark Zuckerberg is a great example of transformational leadership.
The selection of contemporary leader book was challenging at first, however after considering the attributes and qualities of different leadership styles Steve Jobs: Ten lessons in leadership written by Michael Essany was the best choice. This book discussed what can be learned as a leader and the lessons are relevant to my own leadership style. There is a direct relationship of the lessons and Steve Jobs’ leadership style identified including wait for nothing, fail big or don’t bother failing, limit your confidence to your field, there’s no substitute for passion, consider your legacy before you have one, and there’s always ‘one more thing’ (Essany, 2012). The lessons illustrated that Steve Jobs was progressive in his thinking and relentless to develop technological advancements that consumers could not live without. Therefore, Steve Jobs leadership style was influential and other entrepreneurs need to utilize these lessons in pursuit of similar success.
In chapter eleven case study, we were asked, What special qualities of Steve Jobs seem to have contributed to his leadership success as Apple’s CEO? We think Steve Jobs was a successful leader because he was imaginative; passionate about his job, he had the ability to push employees to create new things, had confidence, and believed
In the documentary “Call of the Entrepreneur,” three successful entrepreneurs, Brad Morgan, Frank Hanna, and Jimmy Lai, are presented to explain their views on entrepreneurship and in turn leadership. Brad Morgan is the owner of a million dollar dairy and compost company, Frank Hanna is a merchant banker in New York City, and Jimmy Lai is the founder of Giordano department stores and Next Media. A central theme of the documentary is how each of these businessmen displays the characteristics of persistence, patience, and perseverance to overcome frustrating obstacles and become successful. The film defines entrepreneurship and explains how the entrepreneur responds positively to consumer demands and is able to organize and direct others toward a goal only the entrepreneur can see. The film shows that though some entrepreneurs are driven by greed and some are not, the ones that are successful are answering the needs of consumers.
We learned a lot of things in this course, but I think the most important lesson I learned is that it’s not easy to be an entrepreneur. I was surprised to hear in the first class that 80% of startups fail, but after reading The Art of Start and E-myth Revisited I understood why this happens more often than one might expects. Some people start their own businesses for the wrong reason and some start with wrong mindset. I’ve always thought that if someone has a brilliant business idea and hardworking they will succeed and grow their business. However, now I know that there are many things to consider before starting any business. In fact, there are many strategies that an entrepreneur could follow to achieve success, such as know your customers, work “on” the business, and how
An entrepreneur is someone with the capacity to lead a business to success and is willing to take the risks in order to accomplish their goals. (Dollonger, 2002). Starting a new business is an example of entrepreneurship. Entrepreneurs are very important in order for any business to succeed, however, only some entrepreneurs will succeed in life. Here are some of the characteristics of successful entrepreneurs.
The path to achieving great success is not easy. Whereas there are many shortcuts, the long and patient walk is what takes a person many miles ahead. This concept applies to any individual who aims at becoming a successful businessman. The process of becoming a successful businessman requires a person to attain several accomplishment levels. Each of the level takes energy and time, as well as the ability to recognize the things that make a person truly successful in the business world and life. Becoming a successful businessman requires measurements that take into account not only the monetary and material gains but also the greater scheme of things. Therefore, true success measure achieves in light of creating wealth and value. These factors are vital in the lifetime of success as they present an intangible worth and measurable profit. This essay discusses the way a person can become successful as a businessman.
What are the steps to be a good entrepreneur? Write your suggestion and recommendation based on your observation and experience in Malaysia.