Title Page

Student Name: Usman Zeb

Student ID: 2013449
Unit: Entrepreneurship and Leadership of Business Ventures
Unit Code: BSS018-2

Entrepreneurship and Leadership

Contents
Title Page.....................................................................................................................................................1
Introduction.................................................................................................................................................1
Direct and Indirect Leadership:...............................................................................................................1
Leadership Styles.........................................................................................................................................1
Autocratic Leadership Style:....................................................................................................................1
Participative Leadership Style:.................................................................................................................1
Delegative Leadership Style:....................................................................................................................1
 Bureaucratic Leadership Style:................................................................................................................1
Leadership Theories....................................................................................................................................1
Behavioural Theory:................................................................................................................................1
Power-Influence Theory:.........................................................................................................................1
Situational Theory:..................................................................................................................................1
Value-Based Theory:................................................................................................................................1
Leader Personality Traits and Skills:............................................................................................................1
Self Confidence:.......................................................................................................................................1
Internal Locus of Control:........................................................................................................................1
Emotional Maturity and Stability:............................................................................................................1
Personal Integrity:...................................................................................................................................1
Hofstede’s Cultural Dimensions..................................................................................................................1
Power Distance Index (PDI).....................................................................................................................1
Individualism vs. Collectivism (IDV).........................................................................................................1
Uncertainty Avoidance Index (UAI).........................................................................................................1
Masculinity vs. Femineity (MAS)..............................................................................................................1
Long-Term Orientation vs. Short-Term Orientation................................................................................1
Indulgence vs. Restraint (IVR)..................................................................................................................1
Findings of General Enterprising Test (GET)................................................................................................1
Finding of Aulive Creativity Test..................................................................................................................1
Conclusion...................................................................................................................................................1
Bibliography................................................................................................................................................1
Appendices..................................................................................................................................................1

Introduction
Entrepreneurship is the process of creating, managing, and operating a new firm
with the goal of making a profit while incurring a number of risks. Exploiting a
commercial opportunity in entrepreneurship is usually accomplished through the
formation of a new firm (a start-up), but it can also be accomplished through a
substantial change in product or approach in an existing company (Ferreira,
2021). Apple, a worldwide technological corporation based in the United States, is
a prime illustration of entrepreneurship. While an entrepreneur is the person who
starts a business while taking on all of the risk and reaping the majority of the
benefits (Hayes, 2021).
There is, however, a distinction to be made between a businessman and an
entrepreneur. An entrepreneur is a person who invests effort, time, and money to
develop an enterprise with a new idea or concept to capitalize commercial
activities, whereas a businessman invests effort, time, and money to build a
business with an existing idea offering products and services to customers with
the focus on profit rather than innovation (Santosh, 2021).

Leadership, Types, Theories and Traits

The ability to motivate a person or a group of people by leading them to a shared
goal is known as leadership (Morgan, 2020).

Direct and Indirect Leadership:

When a leader directly communicates with the people, giving them clear
instructions and pushing them to achieve a goal, this is known as direct leadership
(Carter, 2021). Indirect leadership, on the other hand, refers to when you have a
large number of followers but don't necessary communicate or give them
commands. Instead, your character has a charm that inspires many others,
resulting in them becoming your followers indirectly (Cai, 2021).
Leadership Styles

Source: (Cherry, 2021)

Autocratic Leadership Style:

Autocratic leaders, commonly known as authoritarian leaders, give precise
directions on what, how and when something should be done while making
decisions autonomously, frequently without keeping in concern the views of
the rest of the team. As a result, there is a noticeable distinction between the
leader and the members (Cherry, 2021). This style is often experienced where
the leader has the most knowledge among all the members or when there is
little or no time for collective decision making. Research, however, suggests
that under autocratic leadership the decision making is less creative
(Chukwusa, 2018)

Participative Leadership Style:

Participative leaders also known as democratic leaders are the most effective
leaders since they enable and encourage other group members to engage
while still having the final say in making a decision. Under this leadership the
 group members get a sense of importance and engagement which leads to
motivation and creativeness (Lee, 2020).

Delegative Leadership Style:

Delegative leadership, often known as laissez-faire leadership, involves leaders
providing minimum or no direction to group members while allowing them to
make all decisions. This style is usually observed where the entire group
consists of highly skilled people (Cherry, 2021).

Bureaucratic Leadership Style:

The leaders of bureaucratic organizations believe in standardized processes
and highlight the importance of employees adhering to the standard operating
procedures. Such leadership may be seen in government organizations to
prevent corruption, which results in a lack of creativity (Luenendonk, 2020).

Leadership Theories
Behavioural Theory:
The behavioral approach, as the name implies, concentrates on the leader's
conduct since, according to this view, the leader's success is determined by
his behaviors. It entails studying and evaluating a leader's activities while
dealing with a given circumstance, since leaders are not born effective, but
may learn to be successful if they exhibit learning behavior (Mulholland,
2019).

Power-Influence Theory:
The power-influence idea focuses on how a leader may utilize influence and
power to encourage or get things done from their team. It is hence used to
demonstrate leaders which form of power is most efficient and what power
the leader is now lacking. Five types of power have been proposed by John
French and Bertram Raven (Mulholland, 2019).

 Coercive power
 Reward power
 Legitimate power
  Referent power
 Expert power
Situational Theory:
As the name implies, this theory asserts that no particular leadership
style is preferable; rather, it all depends on the circumstances. It
implies that you concentrate on the situation at hand and then adapt
your leadership style accordingly (Cherry, 2020).
Value-Based Theory:
It is a concept that proposes leaders think about their and their
followers' values before making a choice. According to the theory,
values are the greatest driving element for people since they are
genuinely concerned with their own values and behave accordingly
(Hilvert, 2020).

Leader Personality Traits and Skills:

Self Confidence:
Self-confidence is an important aspect of leadership since it enables
leaders to act quickly. Furthermore, individuals are more likely to trust
leaders who possess this quality.

Internal Locus of Control:

People who have an extended locus of control feel that events in their
life are a result of their activities, whereas those who have a strong
external locus of control believe that their actions have nothing to do
with the outcome and that it is primarily down to fate or chance. As a
result, internals exert greater effort in their operations.

Emotional Maturity and Stability:

 Emotionally mature and stable leaders are more aware of their own
talents and flaws, allowing them to establish stronger teams and
maintain positive relationships with their subordinates.

Personal Integrity:
Integrity in leadership relates to being fair, reliable, and trustworthy
towards your work as well as the coworkers. Leaders with integrity walk
the talk, admitting and overcoming their mistakes rather than blaming
others.

Hofstede’s Cultural Dimensions

Geert Hofstede created this theory which is a framework for understanding
and comparing cultural variations between different countries.
 Source: (iedunote, 2022)
Power Distance Index (PDI)
This refers to the degree of inequality in a family or organization, as well as how
the family's or institution's less powerful members tolerate the disparity.
Inequality, on the other hand, is only felt by followers or individuals at the bottom
of the social ladder. A high PDI score suggests that there is a distinct power divide
in society, and people are fully aware of their place within the system. A lower PDI
score, on the other hand, implies that power is shared and that people are
questioning authority and attempting to transfer power (Smith, 2021).

Individualism vs. Collectivism (IDV)

This dimension looks into how people in a society are influenced by groups. It's
more of a 'I' and 'WE' mentality. Individualism emphasises human autonomy and
liberty. Individualist cultures regard people as independent and value
individuality, but they disagree that customs and religion may define people's
limits. Individualism has grown in popularity throughout time. Collectivism, on the
other hand, encourages the pursuit of common goals. People who live in a
collectivist culture, can readily compromise their own preferences keeping in view
the group's preferences, and they may feel embarrassed if they are left alone
(Triandis, 2019).

Uncertainty Avoidance Index (UAI)

This dimension refers to a society's capacity to deal with uncertainty. Societies
with a high UAI are more cautious and explicit about their expectations and
aspirations. Societies with a lower UAI are more tolerant of varied views and
aspirations. Culture tends to place less limitations on people and is more of a go-
with-the-flow society (Gordon, 2021)

Masculinity vs. Femineity (MAS)

This refers to the gender roles that men and women play. Masculinity is
considered as a feature that prioritizes being powerful and swift, where money
and accomplishment are valued, and people are driven by specific tasks and the
ability to demonstrate that they have achieved them. Femineity, on the other
hand, represents a relationship-oriented society that cares for the weak and
places a premium on quality of life. Negotiation, cooperation, and taking other
people's perspectives in mind are all ways to gauge success (Laigo, 2020)

Long-Term Orientation vs. Short-Term Orientation

This dimension connects the linkages between the past with present, and future
actions and threats. Adaptation and change are seen as necessary in countries
with a long-term orientation to meet future difficulties. They minimize self-
promotion and maintain a humble demeanor. These people have a more
futuristic attitude to life and act appropriately, keeping the long-term results in
mind. People in nations with a short-term orientation, on the other hand, tend to
focus on the present. Traditions are respected and upheld, but individuals are less
likely to compromise since it might be perceived as a show of weakness (Guo, et
al., 2018).

Indulgence vs. Restraint (IVR)

Indulgence refers to a society that allows for the genuine and unrestricted
fulfilment of fundamental and natural human desires related to enjoyment of life
without imposing rigid social restrictions. Restraint society, on the other hand,
refers to a society that restricts enjoyment by enforcing rigorous social rules.
Freedom of expression is protected in a high indulgence culture, and the
emphasis is on having a happy and free life. Restraint societies, however, have a
more regulated and strict conduct (Rubeana, 2019).

Findings of General Enterprising Test (GET)

According to the GET test (appendix 1), I have a medium desire for
accomplishment, indicating that I should create clear, target-oriented short-term
goals that I can attain. Second, I have a strong need for autonomy, which implies
that I am a more independent person who is not influenced by others. However,
it also signals that I need to concentrate on improving my interpersonal abilities. I
may be weak in original ideas that have a big impact because I have a medium
score in creative inclination. Since I have a high measured risk-taking capacity, I
will be able to seize numerous opportunities that come my way. Finally, a medium
locus of control score suggests that in order to be a successful entrepreneur, I
may need to improve my self-confidence.

Finding of Aulive Creativity Test

This creativity test (appendix 2) shows that I have the capacity to abstract
concepts from ideas, however it is at a low level. I have the capacity to see
connections between things that don't appear to be connected at first glance,
which will come in handy in the future. However, I lack the desire to modify or
enhance things that everyone considers to be the usual. In terms of boldness, I
get a low score, indicating that I am influenced by what others think of me. I did
well on the paradox section, demonstrating my capacity to accept and work with
conflicting information. It signifies that I am capable of carrying vast amounts of
data. However, in order to extract more powerful answers, an improvement is
required in being persistent

Conclusion
To conclude, a number of leadership styles, theories and traits have been
discussed is detail along with the six dimensions presented by Geert Hofstede
which are indication the vast type of existing cultures. Lastly, two different self-
assessment exercises have been discussed with particular emphasis on the
findings.

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Appendices

Get Test (Appendix 1)

Aulive Test (Appendix 2)