1. 1.2 Leadership, Entrepreneurship, and Strategy Module 1 Introduction to main aspects of Management

2. Chapter 1.2 Leadership, Entrepreneurship, and Strategy

3. What Is Leadership? Leadership is the exercise of influence by one member of a group or organization over other members to help the group or organization achieve its goals 12-3

4. Leadership Leaders are individuals who exert influence to help meet group goals Formal Informal Leader effectiveness is the extent to which a leader actually does help

5. The Leader Trait Approach Energy/activity levels Tolerance for stress Integrity and honesty Emotional maturity Intelligence Task-relevant knowledge Dominance Self-confidence 12-5

6. Understanding Entrepreneurship

7. Entrepreneurship Entrepreneurship is a mindset ◦Opportunity-focused ◦Innovative ◦Growth-oriented Can you add additional Characteristics and/or Attributes… Entrepreneurship The process of starting and running one’s own business This involves a considerable amount of risk.

8. The Entrepreneurship Process

9. 5 Steps of the Entrepreneurial Process 1. Discovery 2. Concept Development 3. Resourcing 4. Actualization 5. Harvesting 9

10. Who are entrepreneurs? Common traits Original thinkers Risk takers Take responsibility for own actions Feel competent and capable Set high goals and enjoy working toward them Common traits Self employed parents Firstborns Between 30-50 years old Well educated – 80% have college degree and 1/3 have a graduate level degree

11. Characteristics of Entrepreneurs Successful Entrepreneurs Key Personal Attributes Good Technical Skills Strong Managerial Competencies

12. The Nature of Strategic Management

13. 13 Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. Definition of Strategic Management Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages (Dess, Lumpkin, & Eisner, Strategic Management: Creating Competitive Advantage, 3rd Ed., p. 9).

14. Stages of Strategic Management 1-14

15. Sample Strategies in Action in 2011 1-15