What is the Difference between Theirs? Difference between Leadership and Entrepreneurship; Sometimes, an entrepreneur and a leader, or say, leadership and entrepreneurship consider as a synonym, i.e. meaning the same thing. But, these two terms mean quite different meanings. Entrepreneurship means a set of attributes that an entrepreneur possesses and practices in starting his /her enterprises. But, leadership is the process of influencing people and providing an environment for them to achieve organizational objectives.
Learn & Explanation, What is the Difference between Leadership and Entrepreneurship?
Thus, leadership is quite different from entrepreneurship. Entrepreneurship can include in leadership, but not leadership in entrepreneurship. Also, Learn about the Difference Between Management and Leadership!
Leadership has also its implications for entrepreneurial behavior. People with leadership qualities, for example, influencing ability, are found more. Prone to become entrepreneurs and perform entrepreneurial functions more effectively. Research studies (Burns 1978) report that entrepreneurs blend with leadership attributes often emerge as ‘transformational entrepreneurs. Who replace old and routine things by altogether new sets and standards of work performance. Are Entrepreneurs Made or Born! Explanation Why?
They work for change rather stability. This is because leadership involves a drive, i.e. (high) need for achievement, the most important antecedent to entrepreneurship. This drive represents the inner motivations that entrepreneurs with leadership qualities possess to pursue their goals and encourage others to willingly and enthusiastically move forward to achieve the set goals.
The relevant leadership qualities or competencies influencing entrepreneurial behavior are inner drives, integrity, self-confidence, intelligence, knowledge in the concerning business, and emotional intelligence. One way to distinguish entrepreneurship from leadership can be in terms of their task demands and personal dispositions.
Difference between Leadership and Entrepreneurship:
The Following difference is:
To compare or the difference between leadership and entrepreneurship, we may want to do so in four dimensions already addressed before (and following Cogliser and Bringham, Vecchio): Vision, Influence, Leading in the Context of Innovation/Creativity, and Planning.
Vision (followers/larger constituency)!
- A Vision is the main component when inspiring followers toward exemplary performance or other goal-directed behavior as well as organizational performance.
- The Vision attributes (brevity, clarity, abstractness, challenge, future orientation, stability, and desirability or ability to inspire) and content (growth imagery) are related to new venture growth. Followers need to motivate through involvement, participation, and a professionally meaningful mission.
- A commonality across many of the various definitions of leadership is the ability to influence others toward a goal. Rational persuasion widely uses for both upward, lateral, and downward influence.
- Entrepreneurs not only see opportunities (understand the ways and means) but can marshal resources to carry out their vision. Use of rational persuasion and inspirational appeals are likely to be effective when the request is legitimate and in line with the entrepreneur’s values and the constituencies’ needs.
Leading in the context of Innovation!
- Leading creative people requires technical expertise and creativity, employing a number of direct and indirect influence tactics.
- Entrepreneurial leadership should involve idea generation, idea structuring, and idea promotion.
- In complex, dynamic environments where people must coordinate their activities, planning represents a key influence on performance.
- Entrepreneurs have a clear need for the mental awareness of future actions to anticipate potential reactions to strategic choices.
Entrepreneurship is all about a set of skills and abilities to be as self-sufficient as possible when it comes to business. Meaning that entrepreneurship is more focus on risk-taking, recognizing opportunities, and the ability to be a self-starter.
Whereas, leadership is about effectively managing the people and resources around you. A great leader isn’t necessarily focused on being a risk-taker, nor are they require to be visionaries. All a leader is primarily focus on bringing people together to execute a common goal.