Entrepreneurship and

Leadership BSS074-3
Individual Report Assessment 001
Student ID No. – 2214929

Name – R.A.Sewmini Rathnayake

Contents
Executive summary......................................................................................................................2

1.0 Introduction..............................................................................................................................3

2.0 Leadership style and entrepreneurial qualities and characteristics...............................3

2.1 Leadership style..................................................................................................................3

2.2 Entrepreneurial qualities and characteristics.................................................................5

2.3 Required areas of development.......................................................................................7

2.4 Receptive of criticism.........................................................................................................9

Conclusion......................................................................................................................................9

References...................................................................................................................................11

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Executive summary
This assignment Demonstrate a critical understanding of the entrepreneurial character,
start-up strategies, growth strategies and business planning. Critically evaluate the skills
and attributes required in the leadership, operation and management of entrepreneurial
organisations whilst emphasizing the impact of diversity in the quality decision making.

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1.0 Introduction
Viable leaders’ major areas of strength for consolidate, capacities, ways of behaving,
perspectives, and administration styles. This book portrays many kinds of surprising
leaders. Our chiefs follow key rules that influence their way of behaving. Scientists differ
on what makes great administration (Green, 2017). Authority levels assist leaders with
laying out objectives and create. Because the activity for my module was based on
teams with fewer than 20 individuals, I was able to build my leadership skills and
become an effective team leader as a result of participating in the activity. After that, I
intend to advance in my role as an operational leader, and ultimately achieve my
entrepreneurial objective of becoming an excellent strategic leader so that I can
someday manage an entire organisation (Healey, 2014).

2.0 Leadership style and entrepreneurial qualities and characteristics

2.1 Leadership style
Since my experience in leadership roles has been restricted to sports teams and
activities at the university level, I have determined, based on an analysis of myself using
"The five-stage model of adult skill acquisition," that I am currently at the "Advanced
Beginner Level." For the next five years, I would like to have reached the "Expert" stage
of this model, which indicates that I have developed all of the necessary skills and have
been following my development plan. I am aware of a few of the leadership qualities
that I already possess, as well as a few others that I would like to cultivate to advance in
my leadership career (Molony, 2017).

Because having a distinct vision is an essential quality for a leader, I will impart it to
others by conveying it through the medium of communication that does not directly
involve person-to-person connection, specifically texts and pictures (Rasmussen, 2016).
My mental toughness will not only assist me in maintaining my focus, but it can also be
use in ensuring that the business is as resilient as is humanly possible. In addition, as a
leader who is unable to allow themselves to become distracted, I will ensure that all
employees and the workplace are free of unneeded distractions. But, for me to more
effectively express both my vision and my aim, it is essential for me to have good

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communication skills (Audretsch, 2015). By scheduling one-on-one meetings with each
of my staff members, I can make the most of my reserved attitude and turn it into an
asset. Even though I often have trouble keeping my employees engaged, I've found that
I can overcome this challenge by instituting an efficient reward system at work. The
elimination of the impression that I lack self-assurance is possible through the utilization
of my resilience when confronted with challenging situations (Molony, 2017).

I'm generally enlivened by situational initiative and mean to accomplish it soon.

Individuals are an association's most prominent resource since they can be prepared,
roused, and enlivened to work better (Shane, 2015). Situational administration's
recognizable proof of adherents' development is urgent. Administration styles should
match colleagues' development. I use this initiative worldview on the grounds that it
allows a pioneer to adjust to colleagues of various mastery levels. Each colleague is
exceptional and offers their own gifts and resources of real value, giving crucial
understanding into their capacities and abilities. This system functions admirably for
driving assorted groups. For a hopeful chief like me, this approach is basic and simple
to carry out, despite the fact that I can't help contradicting a portion of its thoughts
(Healey, 2014).

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My plan for personal growth involves determining my personal and professional goals,
establishing the objectives necessary to reach those goals, reflecting on my progress
after each quarter, and then continuing to move forward (Martin de Holan, 2014).

Recognizing my own leadership strengths and weaknesses is the first step in

developing my leadership abilities. The distinctions between values, attitude, behaviour,
and skills have become clearer to me because of completing this session. To
successfully make the transition from a role that does not require leadership to one that
does, one needs a capable mentor. The instructors of the leadership module have taken
on the role of a guide for me as I begin my journey up the leadership learning curve.
They were able to point out my blunders and offer constructive criticism regarding my
capacity as a leader. They gave me useful feedback on how I might improve my
leadership abilities, and because of that, I have made the adjustments listed below to
myself. Reflecting on this helped me realize that these changes were necessary.
Following an analysis of both the strengths and shortcomings of my leadership style, I
have devised a personal growth plan that is based on (Adair, 2007) and the leadership
module. (Lindebaum, 2016)

2.2 Entrepreneurial qualities and characteristics

 Curiosity

A sharp feeling of enquiry is one of the separating qualities of fruitful entrepreneurs and
chiefs that separates them from different sorts of hierarchical leaders . The ability to
keep a feeling of interest is fundamental for business visionaries, as it empowers them
to look through out new open doors reliably. Businesspeople, as opposed to being
happy with what they accept they definitely know, take part in testing enquiry and
research different potential strategies (Balachandran, 2013).

This is upheld by the idea that business might be perceived as a "cycle of disclosure,"
which is introduced in the Business Basics online course. Interest is fundamental for
business visionaries since it permits them to satisfy their essential mission, which is to
find new business possibilities. They have the unquenchable need to determinedly
address and challenge the laid out request, which empowers them to make significant

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disclosures that are many times neglected by other business specialists (Martin de
Holan, 2014).

 Experimentation That Is Organized

Business people need to have a solid portion of interest as well as a consciousness of

how to lead controlled tests. A businessperson is expected to assess every likely new
open door to decide if it is beneficial to seek after. (Audretsch, 2015)

For example, assuming that you have a thought for another item or administration that
fulfills a neglected interest, you should decide if shoppers are ready to pay for it prior to
pushing ahead with it. To achieve this objective, you should do broad statistical
surveying and execute critical trials to approve your thought and assess its true capacity
(Rasmussen, 2016).

 Adaptability

The idea of business is one that is ceaselessly dependent on future developments. The
most common way of being a business visionary is iterative, and at each step, you'll
wind up confronted with new hindrances and gave new possibilities (Molony, 2017).
Flexibility is fundamental for fruitful organization leaders, regardless of whether being
prepared for each conceivable event is basically inconceivable. This is particularly valid
for entrepreneurs, who should continually evaluate their conditions and keep an
adaptable mentality to push their organizations along forward no matter what the horde
of unanticipated difficulties that might emerge (Barringer, 2006).

 Firmness of purpose

A business visionary should have the option to settle on hard decisions and afterward
stay by them to make progress. As an individual in a place of administration, they are
responsible for coordinating the way their organization will take, which envelops all

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piece of the venture, from financing and technique to the dispersion of assets
(Lindebaum, 2016).

Being conclusive doesn't be guaranteed to involve going with the ideal decision in each
circumstance. If you have any desire to be a business visionary, you want to have the
confidence to settle on hard choices and stick with them until the end. If the result isn't
what was expected, the choice on the decision about whether to make a restorative
move is similarly critical (Martin de Holan, 2014).

 Developing a Strong Team

A fruitful business visionary is mindful of both their benefits and burdens. They have
constructed balanced groups that supplement their capacities as opposed to permitting
their lacks to be a boundary to their prosperity (Martin de Holan, 2014).

The innovative group, instead of a solitary individual, is the power behind most of
effective organizations, not the reverse way around. While starting your own
organization, it is fundamental for encircle oneself with partners who have abilities that
supplement each other and who add to the accomplishment of a typical goal.

To be a decent pioneer, you really want a different arrangement of capacities and

qualities. It is dependably for one's potential benefit to have a different arrangement of
abilities, which could demonstrate supportive for a situational pioneer to have to change
their initiative style to various individuals and various undertakings. Since the present
associations have such a liquid design and are continuously developing, their chiefs will
require a different arrangement of gifts to find success (Mumford et al., 2000). In this
part, I have talked about three parts of administration that are essential to me and that I
intend to deal with working on from now on (Molony, 2017).

2.3 Required areas of development.

The research, leaders are required to delegate responsibilities to their followers in order
to foster the development of decision-making abilities and the capacity for followers to
work independently towards the accomplishment of the ultimate objective. Since I am a
micromanager who gets immersed in the finer details of the task at hand, I need to
acquire the talent of delegation. In the exercise involving the hollow box, delegation was

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one of the variables that contributed to the overall success of the activity. I noticed that
even though we were given a solution to the mystery, I still spent some time recreating
the answer to the problem (Molony, 2017).

During the learning-puzzle activity, there were individuals of the team who were willing,
unwilling, and unable to participate. I realized that with the members of the team who
were eager to help, I made it a point to double check that the assignment had been
accomplished in accordance with my instructions and did not simply accept their word
for it. My capacity to delegate work to members of my team with a maturity level of M4,
who were capable of performing the jobs by themselves and on whom I could rely for
their capability, was hindered as a result of this. Because of this, I now realise how
critical it is to be able to put my faith in the group. The input that I received from the
instructor was that in practise, a leader cannot always work on the assignment themself
and that they need to trust the skills of their team members (Martin de Holan, 2014).

I am aware of how important this is to effective leadership, and as part of my growth

plan, I would like to focus on improving in this area. Building a relationship with my
followers that is founded on trust is important to me because I want to be able to
delegate tasks with ease. Many bodies of research have reached the same conclusion:
trust has a significant influence on both the morale and performance of a team (Healey,
2014).

I have begun the application process to join the engineering project team of five that I
am guiding as part of my development strategy. Since we finished the module, I've been
able to allow the other members of the team room to work independently, which has
freed up time for me to work on the larger project. I've also noticed positive results in the
work that the other members of my team have produced. According to the comments
left by my team members, it would appear that they are becoming increasingly invested
in the project and are able to make novel contributions. This is the first stage of my
growth plan, and I anticipate getting significantly better as I put in more practise
(Balachandran, 2013).

The ability to push oneself and other people to attain the greatest possible results in a
particular circumstance is what we mean when we talk about motivation . It is the most

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difficult outcome for a leader to achieve since motivation has always originated from
inside, making self-motivation just as vital as encouraging others. Motivation is more
complicated than it sounds, and it is the trickiest outcome for a leader to attain.
Throughout the years, researchers have worked on a variety of theories, such as
McGregor's Theory, Herzberg's Motivation, and Maslow's hierarchy of needs, which
define the significance of motivation and the elements that influence it. Some of these
theories include:

At the activity in which the workers were asked to put in more effort, I saw firsthand how
important it was for an organisation to have people who were motivated to do their best.
Due to the fact that the leaders were prohibited from providing any extrinsic motivation,
this mission was extremely difficult (Rasmussen, 2016). At that point, I came to the
realization that intrinsic motivation is a complicated concept that is developed through
time through interactions with one's team. It was startling to see that the majority of us
believed that extrinsic incentive was the only way to lead a team in such a
circumstance, and it was even more unexpected to see how easily we felt pressured to
oversell. On the other hand, the information provided in this lesson educated us on how
extrinsic motivation would eventually lead to a habitual failure to motivate (Lindebaum,
2016).

Nonetheless, in the learning puzzle exercise, I was concerned not only with providing
them with directions but also with offering support all the way through the job in order to
keep them interested. The feedback that was provided by the teams highlighted the
motivational character that I possess, and they appreciated that I kept attempting to get
them on board with what we were doing (Martin de Holan, 2014).

2.4 Receptive of criticism

In the course of their day-to-day responsibilities, leaders frequently encounter instances
of criticism. But effective leaders are able to take criticism and turn it into something
positive. When necessary, a leader must go against the flow and make judgements that
require a new approach, which in turn necessitates change in the status quo. In
circumstances like this, it is not uncommon for the leader to receive criticism for the
decisions and proposals he makes. A leader's followers and mentors are two potential

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sources of criticism for the leader, and this criticism can come in a variety of strengths
and forms (Lindebaum, 2016). A strong leader can successfully manage criticism like
this. I feel that effective leaders have high degrees of self-assurance, which allows them
to be receptive to constructive criticism. When leaders demonstrate that they can take
constructive criticism in stride, they demonstrate to their teams that feedback is a two-
way street that leads to beneficial collaboration among members of the team (Kurt,
2016).

Conclusion
Due to the exceptionally advantageous bits of knowledge presented by this educational
program, I've had the option to bit by bit work on the manners by which I believe about
how to be a powerful pioneer. It has been helpful to me in understanding what my
fundamental perspectives are and has helped me in considering what it is that I
unequivocally represent. What's more, I've come to the comprehension that initiative
doesn't be guaranteed to incorporate being very severe and controlled inside a bunch of
predefined limits. In the cutting-edge world, I accept it is fundamental for a pioneer to be
adaptable and to utilize situational initiative to accomplish the results that are looked for.
I accept that the initial step on my way towards administration has recently quite
recently been taken by me. Due to the data introduced in this module, I presently have a
more prominent degree of confidence, which will empower me to form into a productive
pioneer. Presently, I like to consider myself being strong, and I generally look out for
different individuals from the group who could require some more guide.

The way to turning into a pioneer is certainly not a one-time event but instead a
constant developing cycle that happens after some time. My point is that individuals will
be propelled to expect positions of authority because of the things that I say and do, and
that they will follow the model that I set. I have concocted a particular advancement plan
for myself to accomplish my objective of turning into a pioneer, and I hope to achieve
this objective inside the time period that has been permitted to me. What's more,
ordinary self-reflection and basic examination of my own ways of behaving will be of
extraordinary help to me during the time spent procuring the skills important to turn into
an effective pioneer.

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