By Peter M. Cleveland
Here's a grasp plan for leaders who need to know the dynamic, confirmed thoughts any enterprise leader-from the fruit stand proprietor to the Fortune 500 chairman-must use to construct a winning entrepreneurial firm
Read Online or Download 50 Steps to Business Success: Entrepreneurial Leadership in Manageable Bites PDF
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Extra resources for 50 Steps to Business Success: Entrepreneurial Leadership in Manageable Bites
Yet every soul who leads a business strives to find that perfect balance. Risk acceptance is affected very much by the people you lead. If employees are well trained and perform with excellence, leadership is 11 12 Peter M. Cleveland more comfortable. You have more confidence to accept risk. If your followers are weak, your energies will be depleted just ensuring they meet expectations. You'll have little energy left to manage new risk. The stronger the team contribution, the greater a leader's tolerance for risk.
Organization? Global integration? These questions figure prominently in the "mind's eye" of every business leader who struggles with the future. Your vision is heavily influenced by your values, ambitions, personality, and needs. A well-defined vision shows where your business is headed and defines your desires. It triggers a new direction for the organization and gives it meaning and purpose. When it is properly articulated throughout an organization, a vision moves a business toward its actualization.
Each VP carefully tailors goals to fit the marketing and sales decisions already taken. All goals emanate from market demand. For example, the new Ludwig laptop computer model is expected to gain 3 percent of its target market share. By company estimations, that will yield $50-60 million of additional sales — at a net contribution margin of 12 percent, after all direct marginal expenses, for approximately $6-7 million of additional profit. The vice president of production advised the group that approximately 30 percent of raw materials required to construct the units are currently on hand, having been purchased for similar products last year.