Reference no: EM131059997 , Length: word count:2000

Leadership roles for entrepreneurs

To address the notable global challenges raised from financial or economic crisis, climate change, poverty, an ageing population, outbreaks of emerging diseases and political disruptions, a new form of learning, analytical and problem-solving capabilities, and innovative thinking and action are required. Innovation is important to every sector of the economy - from ICT to healthcare, education to agriculture, and defence to transport. The role of social innovations in transforming the lives of individuals and communities has been a source of popular attention in recent years. Four types of social innovation-social movements, servicerelated social innovations, social enterprise and digital social innovations.

Australia is well-placed to take advantage of the opportunities presented by these exciting times. The National Innovation and Science Agenda drives smart ideas that create business growth, local jobs and global success. Innovation and science at the core of the policy agenda, and agenda for delivering the Entrepreneurs' Programme to help our entrepreneurs get off the ground. The government in Australia has an extensive list of loan and grants programs available to entrepreneurs who are starting a business or maintaining a current one.

Australia wants to be linked to other innovative economies and change the visa system to attract more entrepreneurial and research talent from overseas. The Australian Government announced the National Innovation and Science Agenda (NISA) on 7 December 2015. NISA includes a range of initiatives to drive prosperity by putting innovation and science at the centre of the Government's economic narrative. Investment will be made in the key enablers of innovation, including science, research, education and infrastructure. Under the NISA, a new Entrepreneur visa will be established for entrepreneurs with innovative ideas and financial backing from a third party. This visa will: be introduced in November 2016. Australian government is aligning its tax system and business laws with a culture of entrepreneurship and innovation. "Entrepreneurship is the heart of a national advantage'' and ‘'Entrepreneurship is of eminent importance for carrying out innovations and for enhancing rivalry.'' (Porter, 1990) Entrepreneurship is the manifest ability and willingness of individuals, on their own, in teams, within and outside existing organizations to perceive and create new economic opportunities (new products, new production methods, new organizational schemes and new product-market combinations), and to introduce their ideas in the market, in the face of uncertainty and other obstacles, by making decisions on location, form and the use of resources and institutions (Wennekers & Thurik, 1999).

Highlighting the importance of Entrepreneurship and Leadership, in the last twenty years Entrepreneurship and Leadership raised not as two different perspectives anymore, but as an integrated new perspective.

Questions:

1. What is Entrepreneurial leadership? Provide examples of the applications of leadership theories in the context of entrepreneurship.

2. How does Entrepreneurial leadership compare to other general/other leadership theories? Divergence or convergence.

3. When is Entrepreneurial leadership considered more effective than other forms of leadership?