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3 characteristics of entrepreneurial leadership.docx

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York University
Administrative Studies
ADMS 3930

Characteristics of entrepreneurial leadership: vision, dedication and drive, and commitment to excellence. Entrepreneurial Leadership - 3 characteristics of leadership: 1. Vision o Have a vision and communicate it to a diverse collection of stakeholders, understand how these constituencies differ and fit the vision message to address their concerns and connect with their aspirations 2. Dedication and drive o Drive involves internal motivation o Dedication calls for an intellectual commitment that keeps an entrepreneur going even in the face of bad news or misfortune 3. Commitment to excellence o Commit to knowing the customer o Provide quality goods and services o Paying attention to details o Continuously learning - Ventures built on the charisma of a single person may have trouble growing once that person leaves; thus, should have team of dedicated people working together rather than a single leader - Attract team members who fit the company’s core values Briefly describe the 3 types of entrepreneurial entry strategies: pioneering, imitative, and adaptive. Entry Strategies 1. Pioneering New Entry o Creating new ways to solve old problems or meeting customers’ needs in a unique way o May have little direct competition o Disadvantages:  There is a strong risk that the product or service will not be accepted by customers  A pioneering new entry is disruptive to the status quo—may be copied by competitors, and thus, creates issues of sustainability 2. Imitate New Entry o Look for opportunities to capitalize on proven market successes o Introduce successful products or services in another segment of the market o Fill a market space where the need had previously been fill
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