Intrepreneurial Leadership

Entrepreneurial Leadership

Abstract:

This paper seeks to analyze the concept of entrepreneurial leadership using the profit- oriented approach and the social-responsibility oriented approach. However, before delving into said analysis, it is extremely important to understand the meaning of two cardinal concepts-entrepreneur and leadership. Entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business (Boone and Kurtz, 2011, p. 11). Whereas, according to Hellriegel and Slocum, 2011, p. 4, leadership is the process of developing ideas and visions, living by values that support those ideas and that visions, influencing others to embrace them in their own behaviors, and making hard decisions about human and other resources. According to Tarabishy et al. (2003), empirical studies have shown that for more than a decade and a half, researchers have tried to merge the two distinct terminologies-entrepreneur and leadership into an integrative one. They finally broke the deadlock with a new paradigm of entrepreneurial leadership as an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. According to Ayman El Tarabishy, he shares the views with some researchers that entrepreneurial leader has clear vision, creates opportunity and adapts to change.

1. Analyze and describe the founding leaders(s), leadership style, and major business principles of a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit.

Answer:

An entrepreneur is a risk taker in the private enterprise system. One of the entrepreneurs of modern times who have successfully used the profit-oriented approach is Thomas Monaghan, the founder of Domino Pizza Inc., the second largest franchised pizza chain in the USA. In the early sixties, two brothers, Tom and James Monaghan borrowed an equity of $500 and...