Difference Between Leadership And Entrepreneurship

COURSE: BUS1101 (PRINCIPLE OF BUSINESS MANAGEMENT)

Question 1. Definitions of leadership, entrepreneurship, and strategy in section two of chapter one in the text

Leadership:- This is a vital tool in management, personally I had the opportunity to read a book some years back titled “ why do act the way you do” by Tim Lahaye this book gives me understanding about personality of people (sanguine, choleric, melancholy , phlegmatic) through which am able to understand the strength and weakness of other people especially my subordinates via this I am been able to deployment according to their capacity.

Leaders understand why, when, where and how to use their resources.

Entrepreneurship:- this is ability for someone to recognize opportunity such as needs, wants, problems and challenges in an environment and creation of ideal solution to those needs, wants, problems and challenges.

Strategy: - This is a plan or means of achieving a goal. The know –how ability for bring solution to challenges.

Find a different example of

It means mobilizing others to want to struggle toward a common goal. Great leaders help build an organization’s human capital, then motivate individuals to take concerted action. Leadership also includes an understanding of when, where, and how to use more formal sources of authority and power, such as position or ownership. Increasingly, we live in a world where good management requires good leaders and leadership. While these views about the importance of leadership are not new (see “Views on Managers Versus Leaders”), competition among employers and countries for the best and brightest, increased labor mobility (think “war for talent” here), and hyper competition puts pressure on firms to invest in present and future leadership