Skills Needed To Become A Prosperous Entrepreneurial Leader 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 successful company or start a new successful business. "Entrepreneurship most fundamentally is a method and a mind-set of leadership that could and should be used when leading all types of organisation." (Dana Greenberg et al, 2011)

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 in order to became a great entrepreneur through the analysis of successful business entrepreneurs.

Research process

Population, sample, and sampling

As the topic of the dissertation is really specific to achieve the target of the dissertation it is not possible to collect the data from random people, from all subgroups of the population. The research will focus on the subgroup of entrepreneurial leaders and owners of enterprises. The author will analyse and investigate their behaviour and decision making strategy.

To analyse the research topic the author will collect qualitative data from primary and secondary sources. The primary source of data will consist of interviews with five publicly recognised entrepreneurial leaders, chosen by the author of the proposal. All these entrepreneurial leaders are really successful in their profession, known and recognised by the author and actually he has an agreement with them to interview them. Details of collecting primary and secondary data

Details of collecting primary and secondary data

For the dissertation, the author have decided to collect as much useful data as is possible. For obtaining these information the author will use mostly qualitative methods.

The author will collect primary data from five publicly recognised entrepreneurial leaders through face to face unstructured interview. According to the authors agreement with these persons the author has the permission to use recording ..... The author has decided to use video camera. It will allow to the author to review the interview and analyse the gestures of these entrepreneurial leaders, so their non-verbal communication.

During these interviews the author will use critical incident technique which will help him in recollection of key facts. So the author will ask them to talk about solving problems in the context of their experiment. It allows to the author to understand how to use emotional intelligence in concrete situations and how to survive.

For collecting secondary data the author has chosen famous and recognised entrepreneurial leader of 21st century. The data will be collected from books, business journals, research studies and empirical analyses. Reading their CVs and business analyses about their strategy will allow to the author how should a successful entrepreneurial leader react, what kind of risks should he take and how should manage their relationships.

Details of analysing primary and secondary data

Because of the dissertation topic the author will use qualitative data. The author will choose according to the character and huge amount of collected information the appropriate techniques from qualitative data analyses methods.

Firstly the author will immediately after the interview through the method of documentation write all the important information.

Secondly, after the documentation of data the author with method of categorising the author will rank collected data to categories e.g. skills, features, strategy, tactic, leadership type.

Finally the author will from the collected and categorised data the author will formulate general outcomes through the method of induction.

Access

As the author of the proposal knows how important the access to the useful informations so he has reviewed the accessibility of data. The author is conscious that the collection of secondary data will be easier as the chosen entrepreneurial leaders are really busy and some from the data are confidential at first the has negotiated with them an interview.

For the collection secondary data the author has reviewed the accessible books, publications and academic research studies. As some of these materials are not available in the author's country the author will use their electronic format.

Summary

Objective

Method of data collection

Method of data analysis

To review if the interviewed persons have all the skills what an entrepreneurial leader has to have

Primary data collection

Unstructured face to face interview

Observation, analyses, categorising

Secondary data collection

Summarising, grouping, and evaluating

To evaluate are the interviewees emotionally intelligent

Secondary data collection

Summarising, categorising, analyses

face-to-face interview

Critical incident technique

Qualitative data analysis

Open questions

Qualitative data analysis

To evaluate what kind of leadership styles are used by the interviews

Primary data collection

Face to face interview

Qualitative data analyses, documentation, analyses

Online questionnaire

Quantitative data analysis

Dissertation outline

Introduction

Background

Aims and objectives

Literature review

Emotional Intelligence

Leadership skills

Entrepreneurial Leadership

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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