Entrepreneurial and Leadership Skills - Assignment Example

Leadership must develop a sense of vision and encourage, inspire and motivate team members so that all share the common goal of achieving organizational success (Kleinwort, 2014). Jeff Bezos of Amazon is one business leader that been successful in revolutionizing how business is done with his concept of predictive analytics.

            Business acumen encompasses working with a lot of keenness and right speed when responding to and making decisions in unique business situations.  individuals with business acumen those who are smart when it comes to business decisions; have the capabilities of obtaining necessary information regarding situations promptly, focusing on specific objectives, recognizing all available alternatives for the solution, settling on the most appropriate actions, and setting in motion plans of getting it done. Acumen requires the individual to think in a manner that focuses on the most critical components, appreciation of possible consequences of their actions recognizing close monitoring and adjustment of plans are crucial in defining the future. An example of an entrepreneurial personality is Steve Jobs; he was successful in combining functionality, convenience, and accessibility to give value to customers in the iPad product.  

            Teamwork involves working in collaboration with members of a group towards achieving common objectives. Teamwork is a very essential element of business since most of the time colleagues are required to work together which is sometimes not easy. It calls on members of the team to cooperate and give constructive feedback even with the conflicts that may arise due to personal differences (Scouller, 2011). To achieve the vision and business goals, leaders must therefore be able to cultivate the spirit of teamwork and get people to share the same vision. John Mackey has successfully cultivated a culture of teamwork and achieved tremendous business success at Whole Foods Inc.

            Personally, as a future business leader and entrepreneur, I think I have the characteristics of a leader. I can lead a team and have every team member share the common vision and objectives which I think can help me achieve success as a leader. I can communicate the goals support and encourage team members as leaders hence can attain the support and trust of other teammates. In terms of improvement, I think I still need more training on effective leadership as well as business acumen. I believe in my skills but think with more training I should be able to gain more knowledge necessary to become a strong business leader. Through more interaction with the course materials, exchange with fellow students and teachers as well the world I should be in a position to improve on my entrepreneurial skills.