Entrepreneurial Leadership Is An Important Issue Commerce Essay

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Entrepreneurial leadership is an important issue in today's area, because the driving forces of today's economy are small and medium enterprises. Entrepreneurship describes a phenomenon of leading, organizing and developing a firm. It means take risks in order to reduce costs and achieve a profit. Usually by mentioning entrepreneurship it means establish a new company or start a new business. Establishing a successful enterprise requires a leader, who is able to think creative is opened to the innovations.

According to author and effective entrepreneurial leader is a person who is able to make his or her company succeed by itself by developing competent management.

Of course a prosperous entrepreneurial leader knows that without effective influencing and motivating the employees he cannot achieve the main objectives of his enterprise. So this kind of entrepreneurial leader owns except of leadership skills highly developed communicational skills too.

By analysing publicly recognised entrepreneurial leaders of the 21st century as Steve Jobs, Sir Richard Branson, Roman Abrahamovich, Lee Iacocca and Honda Soichiro we can notice that besides the high level of IQ they have a high level of EQ is important too. That means they recognise the feelings of their employees and regarding the situation they can choose the most appropriate influential and motivational strategy.

Key academic ideas

Entrepreneurial leadership

Entrepreneurial leader is not just a leader and not just an entrepreneur he or she is the mixture of these two professions. According to Dr. Mary Kay Whitake (2012) Entrepreneurial leader foresees what the business trends will be and also know when to motivate, lead or use direct instructions to move forward to his or her organisational goal. This person not just running after profit, but also influence other people, to follow or try to copy the success and innovativeness what was created by this persons charisma. We can identify the entrepreneurial leader by some key criteria. These criteria can be that entrepreneurial leader is an innovator in his or her industry creating solutions decisions which nobody ever thought off. Also likely to make more risk and willing to reinvent a product like Steve Jobs did while reinvented telephone by making iPhone.

Emotional intelligence

Emotional intelligence (Daniel Goleman, 1995) is an ability which allows to the emotional intelligent person to recognise his or her own emotions, so he or she can understand and control them. This kind of person is able to interpret the emotions of other people and groups too, which makes him or her successful in any team. He or she is able to feel with others, provides to them help when it is needed and is able to solve effective appeared conflicts too. Without emotional intelligence is impossible to establish any relationship.

By describing an emotional intelligent person we should emphasize that they are very good listeners, hopeful and optimistic. As they are able to manage their own feelings they are a really good negotiations partners and makes decisions really easy.

According to the American psychologist Daniel Golman (1995) emotional intelligence is a mix of five elements: self-awareness, self-regulation, motivation and empathy.

How does the proposed research relate to previous research studies?

According to webpage Brighthub (2011) There are some significant entrepreneurial theories : Mark Casson (1945-) holds that entrepreneurship is a result of conducive economic conditions. Joseph Schumpeter's innovation theory of entrepreneurship (1949) holds an entrepreneur as one having three major characteristics: innovation, foresight, and creativity. Entrepreneurship takes place when the entrepreneur creates a new product, introduces a new way to make a product, discovers a new market for a product, finds a new source of raw material, finds new way of making things or organization. The author will use existing theories of entrepreneurship in a combination with the theories of leadership and emotional intelligence to describe a profil of successful entrepreneurial leader. Till today there is only a few amount of research studies which deal with the importance of emotional intelligence as an indispensable skill of an entrepreneurial leader.

The author is proposing to do in this dissertation is to analyse and explore the role of emotional intelligence and its impact on the business life of chosen entrepreneurial leaders. Research question, hypothesis, and objectives

The question this research will be answering is the following:

Is there a high need to be Emotionally Intelligent to be a successful Entrepreneurial leader?

The hypothesis this research will attempt to support the following:

To become a great entrepreneurial leader definitely you must be Emotionally Intelligent.

The specific objectives underpinning this research are the following:

To review the literature on entrepreneurial leadership and leadership styles in order to surface how element of emotional intelligence are represented in leadership theories.

To explore how emotional intelligence is integrated into selection process of the entrepreneurial leaders.

To assess Emotional Intelligence inorder to became a great entrepreneur through the analysis of successful business entrepreneurs.

Research process

Population, sample, and sampling

Population chosen for the research comes from two parts. As a primary data the author would like to make an interview with already existingsuccessful leaders of firms. The secondary data will be gained through existing biographies of famous company entrepreneurs; here must be mentioned Lee Iacocca or Steve Jobs, Honda Soichiro, Roman Abramovich, Sir Richard Branson. Due to the small amount of leaders available there will be qualitative research based on interview. The interview will be made from EI questioners to determine their EI level.

Details of collecting primary and secondary data

Secondary data will be according to the bibliographies of 5 famous entrepreneurs to make comparison with the interviewees, there will be the same questioner used for this purpose.

Details of analysing primary and secondary data

Qualitative research will take place as interview. The author would like to determine though analyse and critically evaluate that which EI skills were achieved by the query and which don't.

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Access

Access to the data will be through known entrepreneur of the author. The author already managed the interviews with 5 entrepreneurs.

Summary

Objective

Method of data collection

Method of data analysis

Emotional Intelligence

Face to face interview

Evaluating EI level

Leadership Skills

Face to face interview

Qualitative data analysis

Dissertation outline

Introduction

Background

Aims and objectives

Literature review

Emotional Intelligence

Leadership skills

Methods

Methods of data collection

Method data analyses

Credibility and research

Results and discussions

Questionnaire results

Interview results

Conclusion

Recommendation

References

Appendix 1: Tables and figures

Appendix 2: Interview protocol

Appendix 3: Interview transcripts

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