Leadership and entrepreneurship Essay Example | Topics and Well Written Essays - 2250 words

Leadership and entrepreneurship - Essay Example Most of the basic organizational problems such as distorted structural design, poor morale of managers and employees, communication gaps, resistance to change, inefficient controls, iniquitous salary structure, scarcity of resources, incompatibility with external environment and so on are attributed to poor leadership. Entrepreneurship on the hand, which is derived from the French word â€Å"entrprende†, as defined by the famous economist Adam Smith as, â€Å"the economic agents who transform demand into supply for profits†. One of the definitions of the term, includes, the founding of an enterprise which apparently includes all those associated with it such as the decision makers, the stakeholders and the initiators of business or a business idea. In conclusion, entrepreneurs are leaders who develop and grow enterprises. (Stephen Robins, 2004) Bill Gates or McDonald could well be considered as entrepreneurs due to their sheer vision and dedication of converting a business idea into a profitable and economically viable business option. The size of the business rarely affects the leadership qualities. For example, a leader of a national or international enterprise / organization, commands wide – spread influence over a large number of people while the influence of the leader of a small work group in an organization is relatively limited in scope. However this does not affect the fact that they leaders in their own right and fulfill all the duties and responsibilities of an entrepreneur. In a formal organizational setting, a leader enjoys a position of command and exercise power over their subordinates in order to get the work done and achieve the entrepreneurial goals laid down by the organization. The larger the group the greater the difficulties in exercising control over their subordinates. In such a situation, the leadership roles are often distributed among the subordinates, chosen