Small Business Entrepreneurship

50 Steps to Business Success: Entrepreneurial Leadership in by Peter M. Cleveland

By Peter M. Cleveland

Here's a grasp plan for leaders who need to know the dynamic, confirmed recommendations any company leader-from the fruit stand proprietor to the Fortune 500 chairman-must use to construct a winning entrepreneurial firm

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What happened here? Margot stepped away from her normal creative role and into sales and marketing when she couldn't accept the level of risk associated with the new store. To her, risk was not in balance. When her level of risk tolerance was rejected by the other two, she rebelled, forcing a new risk balance for the team and perhaps avoiding a major financial disaster in the process. Laura and Ann were persuaded away from a risky opportunity and toward preventing a loss. You — The Leader 13 The pursuit of opportunity versus the prevention of loss is the fulcrum of risk tolerance!

Unlike Alfie, he encourages employee participation in both management and profit sharing. Teamwork generates unusual levels of loyalty, productivity, and profit — certainly greater than Alfie Saunders experienced. The leaders of Leftson Industries, Alfie's Repairs, and Kraftstar Homes demonstrate significant differences in leadership style, with equally varying results. If you fail to understand your style, it will be impossible to foresee your effect on people and the business — and thus impossible to lead effectively.

Lockup goals require champions — those who assume responsibility for goal achievement. When prospects for career enhancement are bonded with goals, there are incentives and rewards to performance. No bonding usually means no goal ownership, and no ownership means no progress. Let's look at the issues arising from Ludwig's lockup. On the first day of Ludwig's lockup, the vice president of marketing begins the presentation, following opening remarks from the chairman. He teases the room of managers with such questions as: A How aggressive is our competition?

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