Effective Entrepreneurship

THE ENTREPRENEUR-AS-EXECUTIVE

1

The Entrepreneur-as-Executive: A Suggested Comparison Lauren C. Wilkes Millsaps College

Author Note

This paper was completed as an assignment for Dr. Ray Grubbs at Millsaps College. It became apparent as my research progressed that in order to truly explore all aspects of effective leadership as compared to the principles suggested by Peter Drucker, that a much more involved analysis would be necessary, beginning with existing theory and literature available from the field of economics, management and other available studies of leadership and effectiveness in the modern workplace. Additionally, I am inclined to a further exploration of entrepreneurial leadership theory as it applies to faith-based organizations. My apologies in advance if I have incorrectly interpreted any of the authors or citations used.

THE ENTREPRENEUR-AS-EXECUTIVE

2

THE ENTREPRENEUR-AS-EXECUTIVE

3

Abstract In 2011 and 2012, within a series of four articles written for the Stone-Adams Financial Partners corporate newsletters (www.stoneadams.us/Newsletters.html), an informal exploration was made of “The Portrait of the Entrepreneur” as offered by Naeem Zafar, and as highlighted by popular articles and theories. In the fourth article, application of Peter Drucker’s timeless deliberation on what truly makes an executive “effective” made for a very interesting conclusion to the series. Although Drucker’s book targets the working executive and the adoption of learned habits to be good decision makers, ergo, “effective,” these same applications to the entrepreneurial focus would do well to reinforce many parallels encountered by entrepreneurs. Particularly during the early stages of a new project or business, the “entrepreneur-as-executive” is faced with making many of the same decisions as any senior executive in a large corporation who is accountable to both colleagues and shareholders. By weaving together the features of

References: Acs, Z. & Audretsch, D. (Eds). (2010). Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction (International Handbook Series on Entrepreneurship). (2nd ed.). New York, NY: Springer. Argyris, C. (1999). On Organizational Learning. Second Edition. Blackwell: Oxford, UK. Blanchflower, D. & Oswald, A. (1998). What Makes an Entrepreneur? Journal of Labor Economics, 16, 26-60. http://www.jstor.org/stable/10.1086/209881. Casson, M. (2010). Entrepreneurship, Business Culture and the Theory of the Firm. In Acs, Z. & Audretsch, D. (Eds). (2010). Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction (International Handbook Series on Entrepreneurship). (pp. 249-272, 2nd ed.). New York, NY: Springer. Copulsky, W. & McNulty, H. (1974). Entreprenuership And The Corporation. New York, NY: AMACOM. Drucker, P. (2004). What Makes an Effective Executive. Harvard Business Review, 82, 59-63. Cambridge, MA: Harvard Business School Publication Corp. - (1994). The Theory of the Business. Harvard Business Review, 72, 95-104. Cambridge, MA: Harvard Business School Publication Corp. - (1985). Innovation and Entrepreneurship (Special ed.). New York, NY: The Presidents Association, Harper & Row. - (1980). Managing In Turbulent Times (Special ed.). New York, NY: The Presidents Association, Harper & Row. - (1973). Management, Revised Edition. 2008. New York, NY: HarperCollins. - (1967). The Effective Executive: The Definitive Guide to Getting the Right Things Done. New York, NY: HarperCollins. Edersheim, E. (2007). The Definitive Drucker. New York, NY: McGraw-Hill. Gregoire, D., Noel, M., Dery, R., & Bechard, J. (2006). Is There Conceptual Convergance in Entrepreneurship Research? A Co-Citation Analysis of Frontiers of Entrepreneurship Research, 1981-2004. Entrepreneurship Theory and Practice, 30(3), 333-373. City, ST: Publisher. THE ENTREPRENEUR-AS-EXECUTIVE    18  Koppl, R., and Minniti, M. (2010). Market Process and Entrepreneurial Studies. In Acs, Z. & Audretsch, D. (Eds). Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction (International Handbook Series on Entrepreneurship). (pp. 81-102, 2nd ed.). New York, NY: Springer. Langlois, R. (2003). Schumpeter and the Obsolescence of the Entrepreneur. Advances in Austrian Economics, 6, 287-302. Leff, N. (1979). Entrepreneurship and Economic Development: The Problem Revisited. Journal of Economic Literature, 17, 46-64. http://www.jstor.org/stable/2723640. Marris, R. & Mueller, D. (1980). The Corporation, Competition, and the Invisible Hand. Journal of Economic Literature, 18, 32-63. http://www.jstor.org/stable/2723891.  McGrath, R. and Desai, S. (2010). Connecting the Study of Entrepreneurship and Theories of Capitalist Progress: An Epilog. In Acs, Z. & Audretsch, D. (Eds). (2010). Handbook of Entrepreneurship Research: An Interdisciplinary Survey and Introduction (International Handbook Series on Entrepreneurship). (pp. 639-660, 2nd ed.). New York, NY: Springer. Morris, T. (1970). Commentary on The Effective Executive. In Bonaparte, T. & Flaherty, J. (Eds.), Peter Drucker: Contributions to Business Enterprise (pp. 96-110). New York, NY: New York University Press. Reuss, G. (1970). Entrepreneurship In The Era of Management. In Bonaparte, T. & Flaherty, J. (Eds.), Peter Drucker: Contributions to Business Enterprise (pp. 176-193). New York, NY: New York University Press. Rothbard, M. (1974). Review of Competition and Entrepreneurship [by Israel M. Kirzner.] Journal of Economic Literature, 12(3), 902-904. http://www.jstor.org/stable/2721708 Salerno, J. (2008). The Entrepreneur: Real and Imagined. Quarterly Journal of Austrian Economics, 11(3), 187-207. doi:10.1007/s12113-008-9043-5. Schramm, C. (2006). The Entrepreneurial Imperative: How America’s Economic Miracle Will Reshape The World (and change your life). NewYork, NY: Harper Collins. Spreng, F. (1981). Review of Perception, Opportunity, and Profit [by Israel M. Kirzner]. Journal of Economic Literature, 19(3), http://www.jstor.org/stable/2724330. THE ENTREPRENEUR-AS-EXECUTIVE    19  Wilson, R. & Eastman, W. (Eds). (1977). People and Performance: The Best of Peter Drucker on Management. New York, NY: Harper & Row. Zafar, N. (2009). 7 Steps to a Successful Startup: Simple Lessons Before You Quit Your Day Job! Cupertino, CA: Five Mountain Press.