Leadership & Entrepreneurship Essay Example | Topics and Well Written Essays - 1500 words

Leadership & Entrepreneurship - Essay Example But why do businesses really fail? Is it in the poor leadership skills of the manager? Or is it in the poor marketing forecasts? Business strategies that have worked decades ago may need to be reviewed for their effectiveness in an organization. With the present ever changing times, if a leader cannot adapt to change thinking that his business style which has worked for many years is enough, he may lose to competition (Sharp 1991). A degree in Business Management or Marketing can help entrepreneurs develop business or marketing strategies that can ensure the survival of businesses in today’s business world. These degrees can also help in the development of leadership skills that can make or break small to medium enterprises. But why is it important to acquire education or knowledge of management to become an effective entrepreneur? This relationship of leadership and entrepreneurship will be thoroughly discussed in the paper, giving implications of leadership in the development of an effective business enterprise. Also a comparison between two SME companies will be provided to serve as evidential examples for the analysis of the effect of leadership and its role in the entrepreneurial world. Likewise, the paper will discuss the close relationship of good governance in terms of profitability for sustainable businesses. The theories that may be applied and the possible errors that some leaders may commit that lead to the downfall of their businesses (Finch, 2003). The development and growth of the economy relies heavily on the sustainability of the entrepreneurial activities encompassing small, medium and large businesses. As such, developing economies look at entrepreneurship as a vital factor for its continued growth (Asel, 200). In lieu of the importance of entrepreneurship to economy, the role of leadership is also perceived otherwise as equally essential to the significance of entrepreneurship in building a sustainable