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How Innovative Mindset can Shape Entrepreneurial Leadership.

“Innovation distinguishes between a leader and a follower.”

Steve Jobs


Most of us have heard and read much about the world successful entrepreneurial leaders, such as
Steve Jobs, Mark Zuckerberg, Elon Musk and many other. And we also know, they are successful
because they are able to serve something new and innovative to the market which have
distinctively change consumers perspectives toward the product. But do you ever wonder about
what made them able to generate such an innovative ideas, how long it have taken, how they were
able to communicate their idea to other and made it available for real. We may not be able to find
right and accurate answer for it. But we know it is highly influence by their innovative mindset
matching with their leadership style and quality they possess.


At the time businesses are dynamic then ever and innovation has become the mainstay for the
successful organization. The nature of global economic growth has changed by the speed of
innovation, which have been made possible by rapidly evolving technology, shorter product
lifecycle and a higher rate of new product development. This is adding more complexities for the
entrepreneurs to align their purpose, performance and principles along with innovation. Looking
it from other side it have also created opportunities for the evolving and existing entrepreneurial
leaders to in cooperate and adopt innovative driven leadership style.


I have talked much about the entrepreneurial leaders, their success with innovations. Now let’s
talk about the different perspectives through which business leaders can develop an innovative
mindsets and they can support and encourage innovation in their organization with in their
leadership. To get better understanding I have included various perspectives and ideas of different
scholars by going through their articles related to leaderships and innovations.


As we all know, to stay ahead of competition, companies must constantly enhance the way they
do business. But many performance improvement and new innovative programs failed than
succeed because many leaders don’t realize that sustainable improvement requires a commitment
to learning (Garvin, 1993). There are five essential points for that entrepreneurial leader should in
cooperate to build a learning organization. First point is solving the problem systematically with
the help of data and procedure correctly not in the base of assumptions. Secondly experimenting,
it include simple small test to new knowledge. Third one is learning from past experience, failure
and success in organization of past can give a great lesson. Fourth is learning from other,
organization can learn from other companies and their own customer. Lastly transferring
knowledge, when knowledge is shared broadly it give a better result. Continuous learning process
add on value to both leader and organization.


While a leader is creating organization which will enhance and support the innovation, he/she
should understand the importance of knowledge management in the innovation. Having a
knowledge of customers, markets, competitors, technologies and others can generate the deep
understanding in field. Knowledge management have great role in innovation process. It can help
to gain competitive advantage through knowledge sharing and collaboration in innovative ideas
with other companies, different complexities and problems in product development and decision
makings can be reduced that can be obstacles in innovation process through the proper knowledge
resources. And integration of knowledge through proper knowledge management facilitate in
organization learning, development and innovation.


Entrepreneurial leaders should think as the designer who can enhance and transform the way and
approach of creating and developing the product, services, processes and even strategy. Design
thinking is an iterative process in which we seek to understand the user, challenge assumption and
redefined problem in an attempt to identify alternative strategies and solutions that might not be
instantly apparent with our initial level of understanding. Leader now look to innovation as a
principal source of differentiation and competitive advantage; they would do well to incorporate
design thinking into all phase of the process (Brown, 2008). Design thinking approach can help to
get lead in the market by enhancing the innovative ideas and product design.


Talented human resources are more productive and give more efficiency to the organization. It is
essential to retain and attract the talent because they are scarce. Leaders should have best team that
can understand leader vision and add value to it. Throughout the research it is seen that most of
the companies and their leaders are poor at recognizing, attracting and retaining the talents
properly. While attracting the talent companies should be aware of how 5% of talented human
resources can give 95% value to their company, so company and its leader should be more
magnetic in delivery, not be unreal and distinctive, advanced technology and new innovative ideas
should be adopted. Talents can be retained by aspiring, assessing, acting, architecting and
advancing in the organization for them. Talent matters, because its high value and scarcity and
difficulty of replacing it create huge opportunities when companies get things right (meaney,
2017).


As we have mentioned some of the ideas on how business leader with innovative mindset can be
generated and what, how different aspect can support an organization to be innovative and lead in
competitive market. In today’s time it is very essential for leaders to think in an innovative way
and build an organization which help to generate and support innovative ideas. Building a learning
organization, knowledge management and innovation, design thinking and lastly attracting and
retaining the talent can help organization and leader to develop good innovative environment and
gain competitive advantage. Different innovative ideas, design of product, using the talents,
knowledge and data effectively and transformation and many other activities can help organization
to achieve a goal.

References

  • Brown, T. (2008). Design thinking, 1-11.
  • Garvin, D. A. (1993). Building a learning organization. building a learning organization, 1-16.
  • Jobs, S. (n.d.).
  • Meaney, S. k. (2017). attracting and retaining the right talent . attracting and retaining the right talent, 1-10.
  • Mulally, D. R. (2017). how to become game changing leader, 1-11.
  • plessis, m. d. (2007). the role of knowledge management in innovation, 1-10.

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