A Hybrid Theory on Entrepreneurial Leadership
Hybrid theory/philosophy which combines the common elements found in the thinking of Case, Kouzes, and Drucker. The common elements described in all three men’s strategies of becoming successful leader are: •Showing genuine interest in people. This involve recruiting the right staff, directing, inspiring and motivating others, fostering collaboration, strengthening individual capacities, and recognizing individuals for their contribution to success. •Living up to the leadership challenge.
This means venturing into unexplored areas or new products, aiming high even in adverse conditions, searching for opportunities to grow, being creative and taking risk to innovate and to improve existing processes; and continued efforts to attain and retain leadership position. •Having passion for success. That is being extremely disciplined and forward looking, having intense desire to succeed or thrive, and focusing all efforts on accomplishing expected goals. Based on the above, I shall name my theory “entrepreneurial dynamism. This is the ability of the entrepreneurial leader to vigorously explore opportunities in a highly changing economic environment. According to the article “understanding entrepreneurial leadership in today’s dynamic markets” entrepreneurial leadership is the ability to recognize opportunities in a dynamic market. Today’s market is characterized by continuous change in technology, markets, financial systems, etc. Therefore, for an entrepreneurial leader to succeed, he/she must possess some vigorously active, forceful and energizing qualities that would help him/her to take advantage of opportunities in the market place.
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These include collaboration and care for people, good communication skills, passion to achieve goals even in difficult times, shared vision, values and beliefs for goal accomplishment, and ability to handle sudden changes through creativity and innovation. Entrepreneurial dynamism emphasizes movement from the typical definition of leadership and brings it into the new era of innovation and creativity in order to ensure successful entrepreneurial leadership.