lecture 7 : leadership

Question 1

Managers Versus Entrepreneurial Leadership ?

Answer 1

Management is defined as getting things done through others.

Entrepreneurial Leadershipis
1) Mobilizing others to want to struggle toward a common goal.
2) the (social and informal sources of influence)
used to inspire action taken by others.
3) offering understanding of when to use formal power and authority

Question 2

who can be entrepreneural leaders?

Answer 2

Entrepreneurial Leader are those who electrify and inspire those around them, and bringing out the best in the followers.
individuals who demonstrate success through influence rather than directing authority.

Question 3

Entrepreneurial VS Formal Organizations
differ in six business dimensions ?

Answer 3

1)Strategic orientation
2)Commitment to opportunity
3)Commitment to resources
4)Control of resources
5)Management structure
6)Compensation policy

Question 4

*P&G : …….. is a key principle of management
*Google puts users first when it comes to ………… and *Google puts ………….. first when it comes to daily life in all of its offices
*There is an emphasis on ………….. and pride in …………….. that contribute to the company’s overall success
*Leadership at Google amounts to a deep belief that if you ………………to a group of people who like to make a difference, they will.
*Leaders inspire the ………….. of others toward a ……………..

Answer 4

leadership
online service,
employees
team achievements
individual accomplishments
give the proper tools
collective action , common shared goal

Question 5

Types of Leadership Styles:

Answer 5

1) Lifestyle Venture
2) Smaller Profit Venture
3) High Growth Venture

Question 6

what’s Lifestyle Venture leadership style?

Answer 6

Aligns your personal interests and hobbies with your desire to make a profit.

Small company that provides its owner independence, autonomy (Is often run out of household), and control.

Provides flexibility (hours, meeting places, etc.)

Question 7

Smaller Profit Venture

Answer 7

Content with making a decent living ,Making millions is not important , not concentrated on pushing the envelope and growing .

Question 8

High Growth Ventures

Answer 8

Goal is maximum profit and growth.
Concentrated on pushing envelope and growing as large as possible.
Focus on INNOVATION

Question 9

start VS buy VS franchise a business pros and cons ?

Answer 9

Start – cheapest, but very difficult -requires most planning/research

Buy – expensive -requires less planning and research

Franchise (middle ground) – a business run by an individual (the franchisee) to whom a franchiser grants the right to market a certain good or service.

Question 10

Challenges facing the entrepreneur?

Answer 10

1 - Stakeholders accountability
2 - Growth pressures,
3 - managing a business, and
4 - corporate net worth
are the major constraints facing an entrepreneur