Entrepreneurial Leadership Assignment 1 Essay

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ENTREPRENEURIAL LEADERSHIP ASSIGNMENT 1 Entrepreneurial Leadership Assignment 1 Business 508, Spring Quarter April 27, 2011 Create a hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker. In your philosophy, be sure to include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. The following are the common elements of Case, Kouzes, and Drucker: Leadership- Leadership is very important as it relates to entrepreneurship. Leaders have vision and can move a group of people toward that vision. A vision is an overriding idea of what the organization should be. Often it reflects the dream of the founder or leader. Kouzes states that people work harder and longer for those leaders that they like. A leader must be able to inspire people, and he or she must be able to persuade people to buy into their vision. Taking Risks- All three authors believe that you must be willing to take risks when being both a leader and/or an entrepreneur. Great discoveries and inventions would never have been made without taking risks. Sam Walton, the founder of Wal-Mart, took a risk by opening up several small stores and his company is currently the largest retailer in the world. Risk should be managed with precautions, but it should not stop anyone from proceeding unless it is determined that the risk is too great or without reward. Perseverance- This is another common element between Case, Drucker, and Kouzes. They believe that you can not be afraid to fail. In addition, if you do fail, you have to have the courage to get back up and try again. Case speaks firsthand to this

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