Many entrepreneurs tend to preach values of ethics and honesty to their employees. On the other hand, they fail to uphold their words. This can be literarily described as failing to walk the talk. Therefore, it is not advisable for an entrepreneur to collapse on the guidelines in which he or she guides his or her employees. One should always lead by example. On another leadership skill, one should uphold the fact that change is inevitable. In as much as you know your company so well, there is always a possibility of developing blind spots and lacking certainty on how to proceed. An entrepreneur should, therefore, be open to advice and suggestions on the matter regarding growth an expansion. Finally a leader as a leader one expected to spot and develop leaders from all levels of the hierarchy of employees. Train their leadership skills for the better of the future of the organization. All the seven skills outlines above are therefore my key pillars I would apply to develop and grow the organization (DuBois et al., 2015).
As a social entrepreneur, I am aiming at making the world a better place. In the sense that everything the company invests in takes into account the interests of the people around. Therefore, applying my access to licensing, new markets, extra funding, and expansion in the management system of records the company can advance greatly.
Licensing proprietary technologies is always an effective form of protecting indigenous inventions of the company to attain maximum returns. The company should, therefore, apply the functionalities of such techniques to help the community around. For example, the biotech developed by a pharmaceutical should look forward to reducing the effect of a specific illness to the society about. This benefits the company and the organization around as well.
New markets increase the number of consumers of s given good or service of a given company. By venturing into such markets, the company expands its vision of providing a particular product or service to the community as well as increasing their profit margin to a whole new level. Extra funding is also another resource that significantly aids the company's growth. By expanding the number of employees, the company stands to produce more than it had been providing and in return, more jobs are created for the society around. Training of new or existing employees assures the company of a certain quality of service and improvement on the same and also equips the employees with extra skills to be able to acquire new roles or rise in the hierarchical ranks of the company. Expanding the size of the company also creates room for more jobs as well as increasing the productivity of the company (Zahra & Wright, 2016). Access to all these resources will therefore not only develop the business and increase the possibilities of growth but also stand in advantage to the society around.
Bradner, S., & Contreras, J. (2017). Intellectual Property Rights in IETF Technology (No. RFC 8179).
DuBois, M., Hanlon, J., Koch, J., Nyatuga, B., & Kerr, N. (2015). Leadership styles of effective project managers: Techniques and traits to lead high performance teams. Journal of Economic Development, Management, IT, Finance, and Marketing, 7(1), 30.
Naldi, L., & Davidsson, P. (2014). Entrepreneurial growth: The role of international knowledge acquisition as moderated by firm age. Journal of Business Venturing, 29(5), 687-703.
Zahra, S. A., & Wright, M. (2016). Understanding the social role of entrepreneurship. Journal of Management Studies, 53(4), 610-629.
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