“Since its inception, IE Business School has embraced the entrepreneurial spirit as a core value, and is now an international reference in the field of entrepreneurship” (entrepreneurship.ie.edu). What AIESEC and IE Business School have in common is the commitment towards developing young leaders and entrepreneurs who are not afraid of change and challenging the status quo. And why entrepreneurial leadership?
1. Ownership, pro-activeness and taking responsibility
Entrepreneurship goes hand in hand with concepts such as ownership and leadership.
Ownership implies knowing who you are, taking responsibility and owning up to your own actions. Mr. Balvinder Singh Powar, an Associate Professor at IE Business School, believes in the power of self empowerment and pro-activeness in achieving your goals. He invites people to start from themselves and “Be the change you want to see in the world.” (Gandhi)
Taking responsibility for your decisions and actions is hard enough, but taking responsibility for something more than yourself – for other people, a project, vision or a dream is a true challenge. “Pressure makes diamonds” and great leaders often emerge when success or failure depends on what they (don’t) do. Entrepreneurial leaders focus on putting their personal and professional experience, leadership skills and values to practice.
2. Team management and motivation
People are those who drive change and leaders are those who inspire people to take action. That is why it’s important for entrepreneurs and leaders to be people-oriented and possess communication, motivation and mediation skills. When the growth of each team member is your responsibility, knowing how to listen, support and show empathy makes a difference.
Also, recognizing people’s interests and abilities and being able to develop them, sometimes distinguishes a good leader from a great one. When you “listen” to people’s affinities and allow them to fully participate, they feel included; they step up wishing to meet the expectations and exceed them; they put in effort and make a statement. The project you are working on is no longer yours, his or hers.
It is shared achievement.
Team management and motivation are crucial for entrepreneurial leaders because the cornerstone of a successful enterprise is building strong and effective teams.
3. Innovation and change management
The answer to this is simple – “…to meet the challenges of each new age means discarding old, sometimes well-loved methods” (Kazuo Ishiguro). In order to keep up with the swift pace of changes in the world, we need forward, creative thinking and innovative ideas. The man would have never landed on the moon had he not taken risks and fostered innovative thinking. Investopedia.com says that “The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.” Entrepreneurs don’t chase opportunities, they create them.
Since we have answered the question: Why entrepreneurial leadership, let us wonder for a moment – Why do we need entrepreneurial leaders?
Because the sky is no longer the limit. Boundaries are being pushed every day, breakthroughs are more common than ever and still, challenges emerge with each day. We need innovation and forward thinking, embodied in entrepreneurial leadership, in order to keep moving forward.
At Youth to Business Forum Top Leaders Edition Mr. Balvinder Singh Powar, an Associate Professor at IE Business School held a workshop Leadership Journeys: Be the Change, Dream Big – From Moon Landing To Commercial Space. Stay tuned for the output of the Forum!