The role of entrepreneurial leadership in the success of entrepreneurs: A case study of Steve Jobs—Apple Inc.
The title of this research paper is “The Role of Entrepreneurial Leadership in the success of Entrepreneurs: A Case Study of Steve Jobs- Apple Inc.”
In leadership, the area of entrepreneurship has been of foremost interest that has been theorized and researched as well as it is still in a formative phase as to what identifies an entrepreneur. The researchers and theorists have been varying in their philosophy about what develops entrepreneurial leadership. According to previous researches, entrepreneurs have been more intuitive, motivated by the need to obtain, well organized than others, and are capable of taking high risk challenges (Malach-Pines et al., 2002). The characteristics and traits that cause the entrepreneurial leaders to launch new services and organizations that other business owners have not thought of, is of great significance. Therefore, this paper aims at discussing the characteristics of entrepreneurs further emphasizing on a selected characteristic in relevance with a selected entrepreneur. The problem statement to be analyzed is “The entrepreneur characteristics influence the effectiveness of the entrepreneur in conducting business activities”. Therefore, following is a brief literature review critically evaluating previous researches on the entrepreneurs’ traits and entrepreneurship. In addition, a critical analysis will be discussed to validate the previous researches and relate them with the current findings of a selected entrepreneur.
An entrepreneur is an individual possessing the qualities as well as traits using them in running an enterprise. The entrepreneurs’ perceive new business opportunities, taking the linked risks, and enjoying the profit as reward for their incredible efforts. The entrepreneur is the master of management skills and is generally responsible for each and every aspect of the business (Sarasvathy, 2001). The entrepreneur develops new opportunities and utilities for his own development as well as for the welfare of human beings.
Entrepreneurship has been considered as the most significant topic theoretically and practically of economic development. Entrepreneurship is defined as the state of knowledge and capability of recognizing the economic opportunity that can be realized through creating new enterprise.
Characteristics of entrepreneurs
The characteristics of successful entrepreneur are well discussed and generally agreed in the research conducted by scholars and researchers. The entrepreneurs place high value on reliability, hard work, reliability, optimism, innovation, vision, creativity, growth, ambition, and achievement. According to a past research study conducted by Cole, the entrepreneurs is of four types that are as follow: 1. Innovator
2. Over-optimistic promoter
3. Calculating inventor
4. Organization builder
Schumpeter argues that the entrepreneur is a catalytic agent of change and is in a position of transforming the several inputs into productive channels. Innovation is considered as the significant tool of entrepreneurship through which they exploit change as an opportunity for several businesses. The successful entrepreneur needs to be an individual having technical competence, intelligence, leadership capabilities, creativeness, emotional stability, good judgment, and fairness etc. The research study conducted by Timmons revealed six general characteristics of entrepreneurs that are as follow: Commitment
The entrepreneurial success relies on the characteristics of personal profile of the entrepreneurs and entrepreneurial leadership of the entrepreneur that leads toward superior performance. Therefore, the selected...
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