Characteristics Of Entrepreneurial Leadership

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unknown, without knowing the chance of success. Financial risk-taking is about the financial side of risk; money borrowed and return on investments. Personal risk pertains to the risks that managers and executives take for choosing a strategic course of action (Lumpkin & Dess 2005). Proactiveness Proactiveness means acting in advance to deal with things that might cause problems in the future, but also to identify future opportunities and to act upon them. For the entrepreneurial dimension it means that one is active in creating new opportunities and anticipating possible threats (Lumpkin & Dess 2005). Proactiveness is closely related to competitive aggressiveness; the distinction is that proactiveness pertains to how an organization relates…show more content…
If companies often and on a regular basis produce new products, services and processes they have a high frequency whereas companies with a low frequency rarely change their products, processes and services. Frequency and Degree of entrepreneurial orientation combined indicate the entrepreneurial intensity of a companies’ operations (Morris et al. 2008). 2.2. Entrepreneurial Leadership Characteristics After having connected Entrepreneurial Leadership with the entrepreneurial orientation of a firm it is necessary to depict the responsibilities and tasks of an entrepreneurial leader in orer to understand the content of EL. Thus, this paragraph will analyse the characteristics that represent Entrepreneurial Leadership. In order to flourish in the long-term and consequently ensure longevity and growth of the firm, Entrepreneurial Leadership must be applied effectively (Kuratko, 2007). Hereby, it ́s the leaders responsibility to maintain continuous information exchange with his employees and to encourage them to share their ideas and to exchange views (Kuratko,…show more content…
1991) is to teach employees these traits, for example by providing them training. Training prepares employees to behave in unknown and changing circumstances, to act in the desired way and to react quickly and appropriate. According to Cunningham e al. 1991 training is one of the most promising possibilities that help to reduce a number of business failures for example due to inappropriate behavior and by not taking immediate actions. It is important to teach employees the motivation for the whole organization that requires changes to survive in the long run and to stay competitive on the

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