Can an entrepreneur also be a leader?
'Entrepreneurial focus' has been the boardroom buzzword for years. But what is a good definition of an 'entrepreneur'?
A disruptor; an innovator; a start up; a creator of new things; a return-to-work mum launching a media business; a school kid selling records after class; a thinker; a trailblazer; an idea-generator; or a frat boy setting up a social media platform.
If you recognise Ariana Huffington, Mark Zuckerberg and Richard Branson from the list above, you'd be right, but in this edition of Ambition, we explore other forms of entrepreneurship from the founder of the family business, to the chief entrepreneur in the global super-corporate, to the owner of more than 100 companies. We also catch up with innovative MBA graduates who, upon completion of their MBAs, used their skills to take the road less travelled and put their ideas – and their business acumen – into practice to create companies that could well become the Virgin or Facebook of tomorrow.
As I've commissioned and read through the features and interviews in this edition of Ambition, which explore the personality traits of 'the entrepreneur', I couldn't help but question whether the definition of entrepreneur should be assigned only to someone who sets up a business or venture; or indeed devises internal 'intrepreneurship' strategy in big business. It could be argued that if we're all, in our everyday working lives, entrepreneurs of some description.
And, if not, we should be.
Business School teams have to be entrepreneurial in terms of preparing the next generation of business leader to create game-changing companies; and in coming up with ground-breaking thinking and teaching in order to ensure they, themselves, are leading the way in business, rather than reacting to changes in the market and merely keeping their cohorts up-to-date.
Up-to-date is not enough anymore. Surely, in a fast-paced world, keeping up with the proverbial curve is as bad as as falling behind.
All businesses need to be entrepreneurial at all times. Our cover feature by Alexander Osterwalder claims growth will come from entirely new value propositions and business models, but too many CEOs lack the understanding of what’s required for growth innovation, resulting in in established businesses viewing anything 'new' as harmful to the existing model. So is it possible for leaders to split their styles to manage and succeed at managing their current businesses, while also inventing the future of their companies?