This PPT highlights about the various Leadership Styles and Traits

1. Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES
Entrepreneurship

2. Entrepreneur
Individual who takes risks
and starts something
new
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

3. Characteristics of an Entrepreneur
• Initiative taking
• Organizing and reorganizing of social and
economic mechanisms to turn resources and
situations to practical account
• Acceptance of risk and failure
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

4. Entrepreneurship
It is the process of creating something different
with value by devoting the necessary time and
effort, assuming the accompanying financial,
psychological, and social risks, and receiving the
resulting rewards of monetary and personal
satisfaction.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

5. Entrepreneurial Decision Making
Factors to Form new enterprise
Desirability of new venture formation
1. Cultural
2. Sub-cultural
3. Family
4. Teachers
5. Peers
Possibility of new venture formation
1. Government
2. Background
3. Marketing
4. Financing
5. Role models
Change from present lifestyle
Work environment disruption
Asst. Prof. LAVANYA MANOJ

6. Types of Start-ups
 Lifestyle Firm:
A small venture that supports the owner and does not grow big
with employees.
Run by its founders primarily with the aim of living or maintaining
a certain lifestyle.
Eg. Blogging, Vlogging, Youtubing, Photography, Writing,
Teaching, Cooking, Training, etc.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

7.  Small Business Startups:
These businesses are created by regular people and are self-
funded.
Business owners usually bootstraps and self-finance these
startups. This means that they have less pressure to scale.
Eg. Hairdressers, Grocery stores, Travel Agents, Bakers, etc.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

8.  Foundation Company:
R & D firm that usually does not go public.
A nonprofit corporation or a charitable trust that makes grants to
organizations, institutions, or individuals for charitable purposes
such as science, education, culture, and religion.
Eg. Carlsberg, Heineken, Ikea, Rolex, etc.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

9.  High Potential Venture:
This has a high growth potential and hence receives great
investor interest.
Quickly-growing technology companies and large internet
technology businesses.
Google, Tesla, Amazon, etc.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

10.  Social Ventures:
Market-oriented venture committed to solve cultural,
environmental and/or social issues.
Rather than being driven by profit, a social startup is committed
instead to make the world a better place.
Eg. UNESCO, The Gates Foundation, Reliance Foundation, etc.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

11. Role of Entrepreneurship in
Economic Development
 Product Evolution
 Iterative Synthesis
- Intersection of knowledge and social need that starts the
product development process
 Ordinary Innovations
 Technological Innovations
 Breakthrough Innovations
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

12. Government as an Innovator &
Entrepreneur
 Government active in commercializing technology.
 Technology transfer.
 Government can also act as an entrepreneur by providing
tax incentives, grants, and other forms of assistance to
businesses. This can help spur innovation and investment in
certain sectors.
 Furthermore, the Government can provide access to
business financing, such as small business loans or venture
capital investments.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

13. Intrapreneurship
 Entrepreneurship within an existing organization is
Intrapreneurship.
 A system that allows an employee to act like an entrepreneur
within a company or other organization.
 These intrapreneurship projects do not require a capital
contribution from the intrapreneur.
 This is an important step in developing future talents and
leaders.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

14. Example 1
Steve Jobs and 20 Apple
engineers split off from Apple to
create the Apple Macintosh
computer. The group operated
independently.
This group of creative employees
created more diversity and
competition for Apple’s main line
of products.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

15. Example 2
Starbucks, founded in 1971 had a
mission to become a “third place”
to go, to provide a relaxing
environment and experience for its
customers. One barista decided to
start writing the names of customers
on cups.
The idea was shared with the
corporate office. Months later, this
‘first-name’ approach became a
standard at every Starbucks store.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

16. Example 3
Dick Brams, Regional Manager of
McDonald’s, began trying a new
meal just for kids. He pitched his
boxed idea to management, and
two years later, McDonald’s rolled
out its first circus-themed Happy
Meal.
Happy Meals have become so
essential to McDonald’s business and
brand identity that 3 million Happy
Meals are sold every day.
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

17. Skills Required for Entrepreneurship
 Technical Skills
 Business Management Skills
 Personal Entrepreneurial Skills
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

18. Technical Skills
 Written & Oral communication
 Monitoring
 Technology & Technical business management
 Interpersonal
 Listening
 Ability to organize
 Network building
 Coaching
 Team player
 Ability to lead Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

19. Business Management Skills
 Planning and goal setting
 Decision making
 Human relations
 Marketing
 Finance & Accounting
 Controlling
 Negotiating
 Venture launch
 Managing growth
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

20. Personal Entrepreneurial Skills
 Inner control/ discipline
 Risk taker
 Innovative
 Change oriented
 Persistent
 Visionary leader
 Ability to manage change
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

21. Traditional Managers
 Primary motive is promotion and moving up the hierarchy,
concerned with status
 Short term focus – quotas, budgets, targets
 Delegation and supervision
 Averse to taking risk
 Tries to avoid making mistake
 Agrees with those in the upper management
 Hierarchy as basis of relationship
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

22. Entrepreneurs
 Primary motive is to create value and profit, not concerned
about status
 Looking for survival and 5-10 years of growth
 Direct involvement
 Moderate risk taker
 Deals with mistakes and failures
 Follows dream
 Transaction and deal making as basis for relationship
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES

23. Intrapreneurs
 Independence and ability to advance, driven by status
 Has self imposed time orientation
 Direct involvement
 Moderate risk taker
 Able to get others to agree to achieve dream
 Transactions within hierarchy
Asst. Prof. LAVANYA MANOJ
UGC NET – MANAGEMENT STUDIES