Small Business Management Chapter 19

What is leadership?
Leadership involves pointing the way and getting others to follow willingly.
Qualities of Founders
Trailblazers; able to endure uncertainties and unknowns; adaptable; and able to withstand ambiguity.
What makes a leader effective?
Effective leaders exhibit a determination to do whatever is needed to lead their companies to success.
Leadership Styles
Visionary
Coaching
Affiliative
Democratic
Pacesetting
Commanding
empowerment
Giving employees authority to make decisions or take actions on their own.
budget
A document that expresses future plans in monetary terms.
short range plan
A plan that governs a firms operations for one year or less.
strategic plan
A firm’s overall plan for the future.
negotiation
Two way communication process used to resolve differences.
Service Corps of Retired Executives (SCORE)
An SBA-sponsored group of retired executives who give free advice to small businesses.
networking
The process of developing mutually beneficial relationships.