Paper Presentation for National Students Conference Vidyaarthi Adhiveshanam 2010 on Leadership Challenges for the GeNNext

Leadership and Entrepreneurship

LEADERSHIP AN IMPORTANT PART OF ENTREPRENEURSHIP.

INTRODUCTION
 Entrepreneur with essential

leadership skills contributes to the success of business.  Entrepreneur provides structure, stability and organization.  Leadership skills provides him the inspiration, influence and atmosphere for creativity, innovation and self-motivation.

ENTREPRENEURSHIP
The Art and Science of creating something from nothing.

 Entrepreneurship is a process, where an

entrepreneur converts a new Idea of establishing an enterprise into its implementation.

 An entrepreneur is a person who has

possession of a new venture and assumes significant accountability for the inherent risks and the outcome.
 Entrepreneur is the one having the skill to

recognize a need/deficiency.

He has the ability to differentiate between a

useful need and an idea that can be a successful business.

Entrepreneur can design a solution, use his

drive and ambition to implement the solution.

An entrepreneur requires a different plan or

map, because he is taking a different road, to a different destination.

LEADERSHIP
"If your actions inspire others to dream more, learn more, do more and become more, you are a leader."

Leadership is about capacity

 Capacity of leaders to listen and observe, to

use their expertise as a starting point to encourage dialogue between all levels of decision - making.  Establish processes and transparency in decision - making, to articulate their own values and visions clearly but not impose them.  Leadership is about setting and not just reacting to agendas, identifying problems, and initiating change that makes for substantial improvement rather than

LEADERSHIP QUALITIES OF A GOOD ENTEPRENEUR

The successful leader has a vision. The successful leader communicates well. The successful leader supports and guides

the employees. The successful leader believes in him. The successful leader creates the atmosphere that encourages his employees to grow and thrive. The successful leader acts and reacts in an honest manner.

 Entrepreneurship is about controlling the

organization where as, leadership is about guidance. needs to control operations and systems and also needs to provide guidance to people. tightly by putting the right people into the right places with the right resources. people loose by setting high expectations, providing coaching and acknowledging achievement.

 To run an organization effectively, entrepreneur

 Entrepreneur should hold the administration

 With his leadership skills, he turns those right

PURPOSE
 To study the importance of

leadership and entrepreneurship. help to overcome the challenges faced by entrepreneurs.

 Examine how Leadership qualities

 To know how leadership qualities

help the entrepreneur to motivate and inf luence his employees.

METHODOLOG Y

 A survey was conducted on the topic

Leadership and Entrepreneurship .

 Primary data was collected by administering

questionnaires.

 Questionnaires were administered to70

respondents including entrepreneurs and their employees of age group of 25 - 55 years, to find out Leadership - An important part of entrepreneurship . derived from this survey and findings are administered from analysis and interpretation.

 Analysis and interpretation have been

ANALYSIS AND INTERPRETATION

From the survey it was analyzed that 64% of

entrepreneurs have won awards or scholarships for overall success in school or work place.
 It is inferred that 50% of the entrepreneurs

have participated in programs that trains young entrepreneurs.

 From the survey we observed that 75% of the

entrepreneurs likes to take challenges and diversify their business.

 Most of entrepreneurs encourage their

employees to be creative and provide them training on new tasks and procedures.
 It is viewed that 86% of the entrepreneurs

encourage their employees in decision making process and implement their ideas.
 It is depicted that 71% of entrepreneurs

frequently counsel their employees to improve their performance.

 All entrepreneurs provide guidance to their

employees in accomplishing complex tasks.

 All entrepreneurs can be successful only if

he can pick himself and start over.

 85% of employers trust their employees

when they designate work and the 15% don t trust.

 78% of employers use constructive

feedback to optimize the productivity of employees.  To have a smooth working environment 92% of the entrepreneurs try to resolve differences in role expectations and conf licts in the organization.  According to the survey, the performance appraisal method followed by the employer are considered good with 64%, while 24% of employees feels satisfactory, followed by 21% finds it very good.

FINDINGS

 Entrepreneur already know that failure is

part of achieving their goals and are willing to take the risks.
 Entrepreneurs set a standard of excellence

for others to aspire to, while giving them the tools, motivation and inspiration to follow.
 Employees want their leaders to be truthful

and respect them, regardless of their relative position within the organization.

 Entrepreneurs with necessary leadership

skills influence their employees in the work place and motivate them and assist them in achieving the goals of the organization.
 In the present era entrepreneurs feel that

involving employees in decision making process increases the morale of the employee which in turn increases the efficiency of the organization.

 The entrepreneurs with good leadership

skills will bring out the best in their employees, and discover skills and abilities they never knew they had and they are the building blocks that comprise the foundation for every successful business.
 Real leadership is not necessarily doing

(i.e. leading by example) but creating a process where average people can consistently achieve better-than-average results.

CONCLUSION

 Today s fast moving business environment

demands that the effective entrepreneur should be both a well organized administrator and highly adept in understanding people s basic needs and behavior in the work place.
 Today's ENTREPRENEURS are successful

when they create conditions so that employees take the vision of the organization as their own.

 As an entrepreneur, an individual is a leader of the company. and to become a great leader, an entrepreneur has to look within himself  The key to truly effective entrepreneurship lies in mastering a wide range of leadership skills from implementing and administrating processes to inspiring others to achieve excellence.
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We believe that Leadership whether group or individual - is important in the success of entrepreneuri al ventures

THANK YOU

PRESENTED BY: Ms. MANASA S Ms. SHASHIREKHA B

WE ARE OPEN FOR QUERIES