Question

In order to maximise the chances for success, entrepreneurial ventures must seek to find a balance between entrepreneurial characteristics and managerial style. What does this statement mean? Long Answer Question.

Answer 1

Entrepreneurs need to note that an agile organisation has to maintain those characteristics in order to foster innovation and imagination while managing growth. In addition, the need to translate this spirit of imagination and ingenuity to his or her employees when individually making a transition to a more managerial style. It is hard to maintain this balance.

The leader is able to express their thoughts effectively and intend to accomplish shared targets. They foster cooperation across departments and through stages. They resist ambiguities and generalisations and, because of weak communication, are able to eliminate confrontation and confusion.
A good leader in entrepreneurship requires a strong vision. Exactly where he needs to go and how to get there, he learns. They share their idea with the team and partner with them to make the vision a reality.
The value of effort and reactivity is understood by an entrepreneurial leader, and they go out of their way to have all the resources that the team needs to accomplish their goals. If they take a calculated gamble that misfires, the boss generally does not discipline workers. Instead, to examine what went wrong, they sit down with staff and consult with them to correct the errors.