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Effective leaders are those who are going to make the goodwill and loyalty in others be increased with an act of trust and integrity. Entrepreneurs must have the right tricks which are that they need to be creative, organizing and inspiring of people so that there is a good benefit and ideas will increase competitive world. There are a lot of challenges which are going to come in the way of a running business in the market which can be overcome by a quality leader which would make the environment of the organization be better and the desired objectives and aims can be achieved. Elements that are present in the leaders are going to make sure that the company is being able to have a good working in the competitive world which is very essential. In this report there is going to be discussion on leadership styles, theories and models so that there is a good understanding of the entrepreneurial decisions and working which is present. Tesla is having Elon Musk who is world famous leader and there is going to be a good connection of the leadership style with the organization as well so that there is a good understanding that is going to be there.
ROLES OF EFFECTIVE LEADERSHIP IN ENTREPRENEURIAL ORGANIZATIONS
It is very important for all the practices and employees to be engaged in the field of entrepreneurial working so that there is a good push which is present in confidence level, behaviour and performance which is present so that there are higher outcomes that can be present. There must be effective understanding and participation which is going to be present so that there is good benefit which the company can have. Leaders always give a good sense of direction which is very essential for the organization to have for the long run (Petricevic and Teece, 2019). There are big goals of an entrepreneurial base which is going to be present so that the quality of living is going to be higher as well. Models are theories have to be used by the organization for higher implementation and working so that the business can grow. There are effective skills and qualities that have to be present in the leader so that Tesla would be able to make sure that there is good working and performance that the company is going to have.
There are a lot of models and theories which is going to make the relation of entrepreneurship, leadership and innovation so that there is good working which the company is going to have (Tang, Liu and Wang, 2019). Performance of the business for leadership initiative has to be present so that there is good structuring and performance of the company is going to be higher and make the organization gain a competitive edge as well. Balancing of culture while innovation is very important so that the employees are going to feel accepted in the company which is by making the leaders use their right knowledge. A good leader will use the right theory and models to be able to make sure that the working and functioning of the company is going to be stable which is a very important factor (Hu and Sun, 2019).
Transactional leadership theory
This is a very common style which is used by the leaders of the business to make sure that there is a good improvement in the internal structuring of the company. There is a direction in which a business must work to be able to have a good accomplishment in market and a leader would be able to make sure that there is this factor (Jiao and et.al., 2019). For a transactional style to work there has to be good clear aim and high level management which must be involved to make sure that there is good working which is present in the company.
Disruptive innovation
This is a type of innovation which is going to get in the market a good competition, industry capabilities, business relationship, business models, etc. he businesses are going to get impacted by the technological trends which are happening because of the clients which are present so that there is a good operation which is going to be present in the company (Zhao and Ma, 2017). For example, Tesla and Amazon, these organizations took the technological aspect to power and make sure that the focus value is also going to be different. There are good services and products which the company is having because they are having taking technological to empowerment in the market. Netflix and Prime videos are other examples which make the business be able to have a new technological change by selling DVD online which is a very good method for the businesses to be able to make a place for themselves in the market (Yu and Zhan, 2018).
Transformational leadership theory
There are two most important factors which must be there in a business which are trust in one another and identify each other which is support. To be able to make this take place the leader of the company have to make sure that they are having the right idea and knowledge of the aims so that they would be able to make sure that there is good changes that are taking place (Liu and Zhi-ning, 2019). Leaders have to make sure that they are following the same discipline which is expected from the employees as well so that they would be able to have the right working. Change do not come in easily therefore it is very important for the leader to make sure that they are activity participating in them which would help the business be able to have the right working. For example, Elon Musk for is a very good leader which makes sure that he is building up the right team which is required by the company to have for the long run (Akhmetshin and et.al., 2018). There is an enthusiasm which he is having that can be absorbed by the others as well so that there is a healthy environment that is going to be present in Tesla.
Diffusion theory of Innovation
This theory helps in understanding the communication and embracing of the customers with the innovation which is taking place from time to time. The product can be then molded according to the clients when required so that there is a good increase in the expansion which the business is going to have (Xin, 2017). Target is based on various demographic factors that is going to make sure that there is good adopters that is going to make the functioning be improved so that there is good ability that is present. Innovation is going to make the changes add unique element to the organizations which is a good factor for the long run of the company. There are stages according to the adoption of the changes in the market which are of five elements those are innovators, adopters, early majority, late majority and laggards (Štrukelj and Sternad Zabukovšek, 2019).
Schumpeter’s Innovation Theory of Profit
An entrepreneur must make sure that they are implementing the right objectives and ideas in the business so that there is a good economic benefit which can be gained. There is a lot of creativity and described working which the business must have so that there is going to be right working and processing which is going to be present (Monroe-White and Zook, 2018). There are a lot of areas which have to be cut off like cost manufacturing, and other aspects which is going to make the product be a success in the market. It is very important for the innovation activities be improved with time so that there is higher working and functioning which is present.
APPLICATION OF THEORIES AND MODELS FOR TESLA
There is application of a lot of theories and models which are present in Tesla as the company is very big and famous therefore less risk must be taken and the fulfilment of the working is present. Tesla is focused on not just the model of the products but also gets in good improvement in the technologies which are being used like electrical cars. Tesla is a very futuristic company which is making sure that there is going to be right branding (Lin and et.al., 2020). Approaches which are being used is to make sure that there are theoretical working which is going to be present that is good for the overall working. Transformational leadership is used by Elon Musk to make sure that there is good involvement of the right technology which is going to be present in the company and there is good disruptive approach as well for the innovation. Elon Musk knows how to maintain the relationship with the employees therefore the company is being able to have better operations and working for the long run in the market. Technology is having more trends that are coming in the market and Tesla is working on improving the environment as well so that there is a better operations and working that is going to be there (Zhong and et.al., 2020).
LEADERSHIP STYLES USED BY THE LEADER OF TESLA
Lead of Tesla is Elon Musk which is making sure that there is a good technological change which can come in the company so that there is better initiative which is being taken. Structure of Tesla is upon the employees as well so that there is a better working environment which the business is going to have for them (Lu, Lai and Wang, 2019). Customer satisfaction is very important in the company so that they would be able to have the right reasoning and creative encouragement which is going to be present for the company. Good balance has to be found in the company to make sure that there is good operations and performance that the company is going to have for the long run and gain competitive edge as well.
Elon Musk is a very strong competitor in the market which Tesla is having for them because the company is having the right knowledge in the market. Elon Musk is one of those leaders which never give up even after having failures in the market (Lin, Chen and Liu, 2019). This leader is aware of the styles which must be used to make sure that the changes are coming in the company effective for the better satisfaction level of the clients and make sure that the employees are also performing well. Good motivation is also being provided by Elon to make sure that there is good working and transparent decisions which he is taking in the company to make sure that the trust level of the employees is high. There are a lot of positive factors but the ideas of Elon do not always work in the market which has to be monitored and make sure that there are good efforts which are being put both internally and externally (Zhong, 2018).
CONCLUSION
It can be analysed from the above report that there is a lot of importance of entrepreneurship and innovation in the organizations like Tesla so that they would be able to have a different working and processing for themselves which is very important. Internal and external working of the business has to be well balanced so that the company would be able to have a higher working and processing which is very crucial. Theories and models have to be higher to that there is a good working and make the application of the strategies which is going to be present (Caloffi and Mariani, 2018). Entrepreneurship and leaders have to make sure that there is good application which is going to be present so that the results are going to be higher for the roles and marketing plays a very important role. Innovation is going to have a good result and make sure that there is good desirable working and functioning which the business would be able to have. Implementation of the new industry or working must be done with good knowledge of the market so that the organization would be able to make sure that they are taking the right actions and improvement accordingly.
References
Books and Journals
Akhmetshin, E.M and et.al., 2018. Innovation process and control function in management.
Caloffi, A. and Mariani, M., 2018. Regional policy mixes for enterprise and innovation: A fuzzy-set clustering approach. Environment and Planning C: Politics and Space. 36(1). pp.28-46.
Hu, X. and Sun, X., 2019. Independent Directors and Enterprise Technology Innovation. American Journal of Industrial and Business Management. 9(10). pp.1915-1930.
Jiao, J and et.al., 2019, July. Does Integration Promote Enterprise Technology Innovation? Evidence from the Global Value Chain. In Proceedings of the 2019 2nd International Conference on Intelligent Science and Technology (pp. 29-34).
Lin, R and et.al., 2020. Improving high-tech enterprise innovation in big data environment: a combinative view of internal and external governance. International Journal of Information Management. 50. pp.575-585.
Lin, Y.C., Chen, W.H. and Liu, W.C., 2019. Diffusion of e-commerce on micro-enterprise cluster innovation acceptance rate: A case study in Taiwan. International Journal of Innovation, Management and Technology. 10(2).
Liu, Z.Q. and Zhi-ning, P., 2019, September. Corporate Social Network and Enterprise R&D Innovation. In Proceedings of the 2019 The World Symposium on Software Engineering (pp. 88-92).
Lu, J., Lai, Y. and Wang, Z., 2019. Research on the Impact of Corporate Culture Innovation on Enterprise Management Innovation.
Monroe-White, T. and Zook, S., 2018. Social enterprise innovation: A quantitative analysis of global patterns. Voluntas: International Journal of Voluntary and Nonprofit Organizations. 29(3). pp.496-510.
Petricevic, O. and Teece, D.J., 2019. The structural reshaping of globalization: Implications for strategic sectors, profiting from innovation, and the multinational enterprise. Journal of International Business Studies. 50(9). pp.1487-1512.
Štrukelj, T. and Sternad Zabukovšek, S., 2019. Enterprise values and enterprise policy interdependence. Economic research-Ekonomska istraživanja. 32(1). pp.2829-2849.
Tang, J.A., Liu, F. and Wang, M., 2019. Research on the Framework and Mechanism of Competitiveness in the Field of Enterprise Management Innovation and Entrepreneurship.
Xin, L., 2017. Research on the Evaluation System of Enterprise Management Innovation Capability. INNOVATION AND MANAGEMENT.
Yu, L. and Zhan, L., 2018, January. Economic Analysis of Insufficient Enterprise Technology Innovation. In 2017 7th International Conference on Social science and Education Research (SSER2017) (pp. 152-157). Atlantis Press.
Zhao, W. and Ma, H., 2017. Research on the Management Mechanism of Enterprise Service Innovation. American Journal of Industrial and Business Management. 7(12). pp.1346-1360.
Zhong, T and et.al., 2020. Customer concentration, economic policy uncertainty and enterprise sustainable innovation. Sustainability. 12(4). p.1392.
Zhong, Z., 2018. Brain mechanism of decision-making behavior in enterprise employee innovation management. NeuroQuantology. 16(5).
