Exploring Leadership Styles and Entrepreneurship

Types of Leaders and their Traits

When completing this survey, remember that there are no right or wrong answers, and you should be as honest as possible. Once you have completed the survey, score the results using the scale found on the last page. You will need the score to respond to the following in your initial discussion post:

1. How did you score? Does that score indicate you have the traits of an entrepreneur or not?
2. Are you surprised by the score? Does it reflect how you see yourself?
3. Regardless of your survey score, imagine that you started a business. What would it be? What would it sell and how large would you want it to grow?
4. Which of these legal forms of business is best suited to your imagined business? Explain why.
   
   • Sole proprietorship
   • Partnership
   • C Corporation
   • S Corporation

Give examples of the following types of leaders. Explain what traits that they exhibit that supports your choice of leadership style. Transformational Transactional Narcissistic Go back to the business that you described in Week 4. What style of leadership would you use to run the business? Why is that style suited to your business and the type of leader you would be? Autocratic/Authoritarian Laissez-Faire Participative/Democratic.

 

Entrepreneurs are deemed vital in the 21st century since they are the innovators of new ideas and processes necessary to create new business, incurring most of the risk with anticipation of enjoying the profit from the venture. I will explore and test my ability and competence of being an entrepreneur through survey tests and self-reflection of my skills. The conveniences each of these innovations enable come from an entrepreneur’s willingness to take a risk and pursue a dream (Williams and Lumen Learning, n.d.b).

From the survey test, I scored 80 which shows I have a formidable ability to be an entrepreneur. The results are in agreement with my expectation since I always view myself as an independent, flexible individual with a top-notch integrity value and flexible to environmental turbulence which is the building block of an entrepreneur.

A business that I imagine that I started would be a wedding photography/planning business. I can sell it all as an inclusive package of personalized planning/guidance & photography. I would like to grow my business to the level of servicing the majority of states in the USA and later expanding to other weddings/elopements in other continents like Europe, Africa, South America, etc.

The best legal form of business that is best suited to my imagined business is a Partnership. A partnership is a single business in which two or more people share ownership (Williams and Lumen Learning, n.d.b). As an advantage in creating a partnership as a business structure this will best fit my desired business since its simple and less costly to start, the financial obligation is shared and the profit shared in the proportion of your cash outlay contribution, and lastly, since the hotel sector is a labor-intensive partnership form of business suits me since this form of business offers complementary skills from the partners and these skills may be capitalized to the benefit and growth of the business.