Leading and managing an entrepreneurial organization is a challenge that requires some distinctive skills and capabilities. Leadership and management are different and distinct terms, although the skills and competencies associated with each are complimentary. Management is concerned with handling complexity in organizational processes and the execution of work. It is linked to the authority required to manage, somehow given to managers, within a hierarchy. Back in the nineteenth century Max Fayol defined the five functions of management as planning, organizing, commanding, coordinating and controlling. Today, these sound very much like the skills needed to lead a communist-style command economy. Fayol’s work outlined how these functions required certain skills which could be taught and developed systematically in people. Management is therefore about detail and logic. It is about efficiency and effectiveness.
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- Becoming an Entrepreneurial Leader
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