Fall 2008 issue of Horizons

GUEST FEATURE Ken Harrington, Center for Entrepreneurial Studies Washington University in St. Louis

Modifying Your Leadership Approach to Effect Change What do you do if you are a leader who wants to inspire more innovation and entrepreneurial growth? Let’s start with a standard definition of leadership – “the ability to guide, direct or influence people; the techniques and expertise of efficient organization, planning, direction and control of the operations of a business.” So, a leader has the authority to allocate resources, set policy, decide strategy, direct others and set the tone for an organization or group. My first reaction when reading this definition was that there is something missing – the ability to allow entrepreneurial innovators to take action without disrupting the core activities of an enterprise. In some way, leaders need to incite valuable change without losing control. In other words, leaders need to spend more time, energy and resources stimulating change instead of protecting what an organization already has. Strategic plans focus on barriers to entry, protecting customers, optimizing processes, increasing shareholder value (financial return percentage and consistency), deciding upon core competencies and reviewing SWOT analyses (strengths, weaknesses, opportunities, threats). Increasingly sophisticated analytical tools, including enterprise information systems, benchmarking,

19 ◆ fall 2008 issue