Peter Drucker (1985) states in his article, “A Prescription for Entrepreneurial Management”, “Leadership does not necessarily mean bigger; it means being accepted as the leader, recognized as the standard setter. Above all, it means having the freedom to lead rather than being obliged to follow” . In looking at these definitions it can be seen that there are many different types of leadership. Several examples might be transformational, charismatic, and entrepreneurial leadership. Entrepreneurial leadership is vital to an individual and to a corporation’s success. Entrepreneurial firms are a major source of innovation and change. They create jobs, new tax revenues, and other transfers of money. At a time when U.S. productivity growth is lagging behind other countries, and when large corporations are laying off workers and focusing on core businesses, entrepreneurial firms assume a more significant role; They do what large companies are not doing.

me or low-income Entrepreneurship. Survival and success furthermore could also mean the realization of a personal dream without necessarily being connected to the economic development of the business. In short: different types of entrepreneurial activities and self-employment emphasize different aims, reflecting the variety of micro enterprises as there are: traditional craft businesses, potential gazelles in emerging branches side by side with part-time and/or low-income activities or life-style companies.

Miner found through research that there “...is not just one kind of person who has the potential to succeed as an entrepreneur. Furthermore, the findings show that the type of person an individual is determines the route he or she should follow”. He found that there were four types of personalities. They are:

g, “ Managers and theorists interested in entrepreneurship must begin to come to terms with the roles of the individuals and the group, respectively, within an organizational context. These roles are an integral component of the internal environment of the firm”. Drucker (1985) authoring another article with the same title as his book, “Setting up Entrepreneurial Units” is quoted as saying; “For the existing business to be capable of innovation, it has to create a structure that allows people to be entrepreneurial… This means, first, that the entrepreneurial, the new, has to be organized separately from the old and existing… This means also that there has to be a special locus for the new venture within the organization, and it has to be high up. Even though the new project, by virtue of it’s size, revenues, and markets, does not rank with existing products, somebody in top management must have the specific assignment to work on!

Many economists find fault with the conceptualization of entrepreneurship as a dependent variable in the economic process. Within this context, Joseph A Schumpeter (1934) led a revision of the mainstream tradition, and placed the entrepreneur at the center of the development process. He argues that the entrepreneur combines existing resources in new ways, which break the existing equilibrium and raise it to a new level. Within this context, the ‘innovator-entrepreneur’ causes rather than facilitates economic change. But since the entrepreneur operates in a multiplicity of social situations, a range of sociological and psychological factors become part of the process of economic development. Under the influence of Schumpeter’s work Kirzner (1973; 1989) stresses that human action is guided partly by maximizing criteria and partly by alertness, creativity and judgement - features typical of the entrepreneur.

4. The Expert Idea Generator. Possesses a strong desire to innovate and a Love of Ideas. Believes that new product development is crucial to carrying out company strategy, but good intelligence is not a major factor. His/her desire for risk aversion is high.

Entrepreneurial Leadership within Management

tomorrow as an entrepreneur and innovator. Berglass (1977) believes that this is extremely important especially with top management. In business, no one respects a CEO who has lost the will to stick his neck out. Risk aversion among successful entrepreneurs is somewhat widespread. With surprising regularity, formerly fearless entrepreneurs responded to success by holding the reins on risk and change so tightly that they end up strangling their businesses.

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