Entrepreneurial leadership thoery supported in business accelerator programs

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Entrepreneurial Leadership Theory. Can entrepreneurs learn to not fail so much? Possibly. Business Accelerator programs support entrepreneurial businesses taking them to the next level of business …

Entrepreneurial Leadership Theory. Can entrepreneurs learn to not fail so much? Possibly. Business Accelerator programs support entrepreneurial businesses taking them to the next level of business success.

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  • The Table of Content divides the design into three parts. Part I will develop the research idea and present the key concepts to build an understanding of the ensuing research.Part II will deliver the data components, the sources, collection methods, preparation, and analysis. Part III will end the presentation by defining what the researcher hopes to accomplish.
  • Link between entrepreneurship, leadership, and business success Individual’s historical and internal personal leadership experiences Subjective in nature Influenced by “conditioning, socialization and acculturation”. Behavioral traits are the tools the individual brings to the entrepreneurial stage.(Kobe, 2012). Cumulative economic effect entrepreneurs have on society are enormous Business development is considered the engine of economic expansion. Business, industry, and government all place a premium to encourage it.
  • Result: Negative Trend
  • Explain this chart – don’t just say the pointsNotice the steep delivery of the curve. Most start ups do not use the services of a Incubator.And, getting into an Accelerator is very difficult.
  • This is another way to show the significance small business has to our economy.
  • Incubator: Laying a foundation of support for entrepreneurs Assist in few months – few years: Administrative Management Technical Sources of Capital Networking with like minded individualsAccelerators: How it works => Entrepreneurs solicit the accelerator Present for acceptance 2 – 4 month programs Structured Curriculum Fire Hose for a drink of water 5 – 8% of company for cash stipend of $15,000 - $100,000 (Average is 5% and $20k) Real Benefit Knowledge Experts Fundraising Opportunities Success rate is goodOnce past the startup phase though, entrepreneurs find they may not have the needed skills to develop the organization into an ongoing, sustainable, business platform. (Jones, 2011). Leadership skills may be the most important skill set to support the growth of a successful business venture(Shafer, 2012). Entrepreneurs come to find that passion, energy, and perseverance may not be enough to sustain an organization; they realize that leadership strategies are necessary skills to develop their business through the coming phase of organizational developmentThough leadership skills may not be a part of the entrepreneur’s capacity through the startup phase, they are skills that can be learned.
  • Link between entrepreneurship, leadership, and business success Individual’s historical and internal personal leadership experiences Subjective in nature (Byrd, 2010). Influenced by “conditioning, socialization and acculturation”. Behavioral traits are the tools the individual brings to the entrepreneurial stage.Analoui and Karami (2003) stated that success in business is probably most related to an individual’s leadership capacityCumulative economic effect entrepreneurs have on society are enormous Business development is considered the engine of economic expansion. Business, industry, and government all place a premium to encourage it.
  • Entrepreneurs generate economic utility generating revenue, jobs, economic expansion, and improved quality of living. Starting a business has never been the problem for entrepreneurs.
  • The PurposeThis qualitative study is to understand how business accelerator programs develop the entrepreneur’s leadership skills that support the development of their company’s organizational phase. Business accelerators provide structured leadership training that is necessary to develop the entrepreneur’s leadership skills to support this organizational development.
  • Learning while doing, learning from mistakes, and learning to do it all over again (He, 2013). Experiential development helps the individual grow into a balanced leader. This accumulated know-how helps to develop a high level of leadership agility and competency.
  • Entrepreneurial Leadership TheoryRelatively new theory where the two words have individually been well-established in the research separately but together they are not often combined to understand as one.
  • Entrepreneurs - presently involved or have recently graduated. WoodyObserve and interview.Four Individuals.Two different accelerator programs.Seattle metropolitan area.IRB approval will be required
  • Pre Interview – focus on leadership skills awareness, knowledge of, and trait identification.Observations – at the Accelerator program (1 – 2 hours) Sights, sounds, training methodologies, intensity, observable stressInterviews – at the entrepreneurs place of business ( 1- 2 hours) Clarification on Journal, other reflections.
  • The weekly questions will be semi-structured to focus the weekly journals. The comments will be interpreted and sorted into coded buckets or themes to help continue to focus on the research questions. Additionally, the information collected from the interviews will help to understand the details while observing the entrepreneurs. The analysis between the interviews, observations and the journals will be triangulated against literature, artifacts, video and audio components. These will validate and support the findings. New findings will be coded for further research. The strategy provides current real-life contemporary data between a phenomenon in the business world where the theories of entrepreneurship and leadership are learned simultaneously.   
  • ContributionThis paper will attempt to make three contributions to the literature on entrepreneurship.Business accelerator programs are fairly new business operations and they fully support the entrepreneur’s world of getting a business into profitability quickly. Entrepreneurs = so this field will be more accessible to the general population, Business accelerator programs = so they may continue to learn and develop their specific brand of business development, (Roomi & Harrison, 2011, p. 31) Universities so they have the opportunity to develop entrepreneurial leadership education that would help “teach students to cultivate their entrepreneurial capability in leadership roles and their leadership capability in entrepreneurial contexts” (Roomi & Harrison, 2011, p. 31).

Transcript

  • 1. Entrepreneurial Leadership Theory Supported in Business Accelerator Programs GREGORY PRICE INTERNATIONAL CONFERENCE ON LEADERSHIP AND EDUCATION MARCH 29, 2014
  • 2. How Many ofYou…. • Have started your own business? • What was the most difficult aspect of taking it to the next level? • What would you do different next time?
  • 3. A Proposal for Research
  • 4. Your Participation in this Process • You are invited to be candid in your assessment • Criteria can include: • Identify new approaches • Identify areas that are not well defined or understood
  • 5. Presentation Format PART I • Introduction • Problem Statement • Purpose of Research • Research Questions PART II • Theoretical Framework • Methodology • Data Sources • DataCollection • DataAnalysis PART III • Significance
  • 6. Introduction • Entrepreneurs are known risk takers • Passion, energy, and perseverance • Financial, psychological, and social risk • Follow a different set of rules • Rely on their own understanding of the world around them Bann, C. L. (2007). (Cook &Yamamoto, 2011). Part I
  • 7. Small Business by the Numbers Companies with Less than 500 Employees 2002 2008 Direction U.S. 48% 46% - 2% (United States Census Bureau, 2011).
  • 8. Business Survival Rates by Time • 40% => 3 year kill rate • 67% => 10 year kill rate Imagine if support for entrepreneurs were given at a higher degree.What would be the result?
  • 9. The Size of Small Business in Washington St. Employment in Categorized Sized Firms Firms operating in Washington State % Employees against total Washington State employment (%) 1 – 4 employees 61% 6% < 20 employees 88% 21% < 100 employees 96% 38% (United States Census Bureau, 2011).
  • 10. Business Incubator & Business Accelerator INCUBATOR • Over 50 years serving clients • Inexpensive shared services • 1,400 operating in US in 2006 ACCELERATOR • First one in 2007, growing fast • Investor-oriented • Fast-paced, 3-4 month curriculum (Carr, 2012)
  • 11. Possible Solution? • Entrepreneurship is Experiential Learning • Accelerator Program is learning • Why take hard knocks • Learn from the best! Agility Leadership
  • 12. The problem being researched is..... • Frequent failure of small businesses • which may be caused from a lack of entrepreneurial leadership agility. • Startup phase of a business • supports the entrepreneurs core competency • limited opportunity to develop leadership skills • Organizational development phase • leadership skills play a much more important role • business accelerator programs target this phase of the entrepreneurial enterprise
  • 13. Suppose for a Moment... • Imagine what a 10% solution could do.... • could have a tremendous positive impact on the tax base, reduced unemployment rate, and improved standard of living. Nonfarm Corporate and Non-corporate Shares of Receipts and Employment 2007 Revenue Employment Small Business Large Business Small Business Large Business Total 30% 70% 49% 51% Source:Statistics of U.S. Businesses, 2007 and NonemployerStatistics. U.S. Census Bureau
  • 14. Purpose
  • 15. Research Questions GENERAL QUESTION • What method or methods of training in a business accelerator program do entrepreneurs indicate most useful to their leadership development? SPECIFIC QUESTIONS • How do entrepreneurs describe the aspects of a business accelerator program that resulted in their leadership development? • What specific leadership skills did entrepreneurs take away from their experience in the business accelerator program? • What types of training were most useful in an entrepreneurs’ leadership development? Descriptive Study Explanatory Study
  • 16. Theoretical Framework • Qualitative, Case Study • ExperientialTheory • Learning through knowledge, skills, and values • Learning by doing real-world activities Part II (He, 2013).
  • 17. Theoretical Framework • Entrepreneurial LeadershipTheory • LeadershipTheory • Combining strategic vision with influence • Motivating others through a cultural process in the organization • EntrepreneurTheory • Create opportunity beyond the resources the individual controls Roomi, M. A., & Harrison, P. (2011).
  • 18. ENTREPRENEUR • Performs complex solo duties • Organizational structure not defined • Personality traits may be complex • Skills needed are varied LEADER • Performs duties in an organization • Org structure is firmly established Theoretical Framework Entrepreneurial Leadership Theory (Vecchio, (2003); Mattare, 2008).
  • 19. Data Sources • Accelerator Programs • Entrepreneurs • Artifacts • Journals • Audio
  • 20. Data Collection (3+ month process) Study Participant A Study Participant B Study Participant C Study Participant D Intervi ew Observati on Intervie w Observati on Intervie w Observati on Intervie w Observati on Pre-entry Interview     Week MonthOne 1   2   3   4  
  • 21. Data Analysis Observations Coding Themes Patterns TriangulationContemporary Real-life simulation
  • 22. Significance ENTREPRENEURS • Developing a stronger understanding of Entrepreneurs BUSINESS ACCELERATOR PROGRAMS • Better understanding of methodology and results UNIVERSITY RESEARCHERS • Improved teaching methods • Build upon the body of literature Part III
  • 23. Questions Follow up: Twitter @GregPriceMBA LinkedIn http://www.linkedin.com/in/gregpricemba Questions: gpmba@cityu.edu
  • 24. References • (US Census Bureau, 2007). Statistics about business size (including small business) from the u.s. census bureau. Retrieved from: http://www.census.gov/econ/smallbus.html • Jones, K. (2011). A biographical approach to researching leadership and entrepreneurship development processes in a small business context. Proceedings of the European conference on management, leadership & governance, 199-205., Thomson, London. • Andruss, P. (2013). Rev up your start up. Entrepreneur, 41, 77-83. • Antonakis, J., & Autio, E. (2007). Entrepreneurship and leadership.The psychology of entrepreneurship (pp. 189–208). Mahwah, NJ: Lawrence Erlbaum Associates, Inc. • Bagheri,A. P., ZaidatolAkmaliah Lope. (2011). Entrepreneurial leadership: towards a model for learning and development. Human resource development international, 14(4), 447 - 463. doi: 10.1080/13678868.2011.601594 • Bann, C. L. (2007). Entrepreneurial lives:A phenomenological study of the lived experience of the entrepreneur, including the influence of values, beliefs, attitudes, and leadership in the entrepreneurial journey. Capella University. Retrieved from ProQuest Dissertations andTheses, 373-373.
  • 25. References • Byrd,W. C. (2010).The personal leadership practices of successful entrepreneurs. Pepperdine University. Retrieved from: http://search.proquest.com/docview/649391178?accountid=1230 (Order No. 3412018) • Carr,A. (2012).Are accelerators losing speed?, Fast Company, 168, 51-56. • City University of Seattle (2013). Protection of Human Subjects in Research. Retrieved from: https://courses.cityu.edu • Cogliser,C.C., and K.H. Brigham. (2004).The intersection of leadership and entrepreneurship: Mutual lessons to be learned. The LeadershipQuarterly, 15, 771– 99. • Cook, P., &Yamamoto, R. (2011). Inside the mind of the expert entrepreneur:The explorer's view of strategy. Journal of management & strategy, 2(3), 77-85. doi:10.5430/jms.v2n3p77 • Creswell, J.W. (2014). Research design:Qualitative, quantitative, and mixed methods approaches. (4th ed.).Thousand Oaks, CA: Sage Publications.
  • 26. References • Engel, P. (2013). Small business owners don't fear the devastatingly high failure rate. Retrieved from Business Insider website: http://www.businessinsider.com/small- business-owners-are-optimistic-2013-6 • Gupta,V., I.C. MacMillan, and G. Surie. (2004). Entrepreneurial leadership: Developing and measuring a cross-cultural construct. Journal of business venturing, 19, 241–60. • He, F. (2013). Learning from failure:The making of entrepreneurial leaders.The George Washington University,Ann Arbor, MI. Retrieved from: http://proxy.cityu.edu/login?url=http://search.proquest.com.proxy.cityu.edu/docview/13 14799274?accountid=1230 (3553304) • Johnson, J. E. (2011). Why some leaders can build new organizations: Leadership, individual differences, and gender in entrepreneurship.The Pennsylvania State University. Retrieved from ProQuest Dissertations andTheses, 152. • Kempster, S.J., and J. Cope. (2010). Learning to lead in the entrepreneurial context. Journal of entrepreneurial behaviour and research, 16(6), 5–34. • Kobe, K. (2012). Small business gdp: Update 2002-2010. Retrieved from: http://www.sba.gov/sites/default/files/rs390tot_0.pdf
  • 27. References • Knopp, L. (2007), National business incubation association: 2006 state of the business incubation industry, National Business Incubation Association Publications,Athens, OH. • Kuratko, D. F. (2007). Entrepreneurial leadership in the 21st century: Guest editor’s perspective. Journal of Leadership & Organizational Studies, 13(4), 1–11. • Mattare, M. 2008.Teaching entrepreneurship:The case for an entrepreneurial leadership course. USASBE Proceedings, 78–93. • Rae, D. and Carswell, M. (2000) Using a Life-story approach in researching entrepreneurial learning:The development of a conceptual model and its implications in the design of learning experiences, Education and Training, 42(4/5), pp 220-227. • Roomi, M.A., & Harrison, P. (2011). Entrepreneurial leadership:What is it and how should it be taught? International Review of Entrepreneurship, 9(3). • Sepulvada, F. (2012, July 31).The difference between a business accelerator and a business incubator? Retrieved from: http://www.inc.com/fernando-sepulveda/the- difference-between-a-business-accelerator-and-a-business-incubator.html
  • 28. References • Shepard, J. M. (2013). Small business incubators in the U.S.: A historical review and preliminary research findings. Journal of knowledge-based innovation in China, 5(3), 213-233. doi: 10.1108/JKIC- 07-2013-0013 • Vecchio, R.P. 2003. Entrepreneurship and leadership: Common trends and common threads. Human Resource Management Review, 13, 303– 27. • Velocity venture capital accepts 10 startups into its business accelerator program. (2013). Professional Services Close - Up,Retrieved from http://search.proquest.com/docview/1458634760?accountid=1230 • Yin, R. K. (1981).The case study crisis: Some answers. Administrative Science Quarterly, 26(1), 58-65.