Reference no: EM133172736

A variety of Leadership Styles are reviewed (see excerpt below).  Review these styles and identify which one you feel you would like to embody as the owner/manager of a small business.  Why do you think this would be work best for you?  What are the pros and cons of this style?

Effective entrepreneurial leaders can motivate and inspire.  They can create a community from a disparate group of strangers.  Success of the venture depends largely on whether leadership can develop a vision and convince internal stakeholders to adhere to this vision.  Employee buy-in is necessary and effective entrepreneurial managers can develop this by making sure every employee has a clear understanding of their role in the business.  The effect entrepreneurial leadership has on their employees can be significant, especially for a small business.  Effective leaders know this and employ various managerial styles to achieve the best effect on personnel.  The following six leadership styles were determined by a study of over 4,000 managers (Murray 2010).

• Visionary leaders motivate employees to work for a vision.
• Coaching leaders foster a relationship with employees based on trust.
• Affiliative leaders create harmony within the organization based on emotional bonds.
• Democratic leaders develop buy-in through participation.
• Pacesetting leaders set challenging goals and expect excellence.
• Commanding leaders demand immediate compliance.

Murray, Alan. The Wall Street Journal Essential Guide to Management: Lasting Lessons from the Best Leadership Minds of Our Time. New York: Harper Business, 2010.