Topic: Leadership and Management in Entrepreneurial and /or Family firms, how to prepare the second generation? below is the introduction of our subject Problem Statement: Entrepreneurial firms require effective leadership and management in order to succeed. This can be a challenge due to fewer resources available to startup businesses, in comparison with large corporations. Nevertheless, there are examples of many entrepreneurs who are successfully made it by leading and inspiring their teams to pursue a common goal. Leadership and management can play a significant role in any companys success. In this project, we will explore the entrepreneurial mindset, the effect of leadership and management in entrepreneurial and family companies, the difference between both and what leaders and managers need to keep an entrepreneurial firm going and developing. Rationale: For any entrepreneurial business, leadership and management are equally important. Leadership is about inspiring and influencing others to be innovative and productive while management is about structuring, organizing and assigning tasks to others. Both play a significant role in todays world. Many of the technologies and products we use and enjoy on a daily basis are the fruit of entrepreneurial innovation. Lets take Careem as an example, which was co-founded by three young men in 2012. Within 6 years, Careem was valued at over $2 Billion, and it was acquired by Uber in early 2019 for $3.1 Billion. Such growth and success would not have been possible without bold leadership. On another note, one of the key focuses within our Kingdoms 2030 vision is boosting small and medium-sized businesses and productive families, due to their important role in economic growth. In order to support this goal, we need to prepare the younger generation to take on the entrepreneurial challenge by equipping them with the necessary skills to succeed. I want you to write one page about below subject without a conclusion to the followed introduction at first page the subject is: Preparing for the second generation (want you to write about the two questions) o What does preparing for the second planning mean? (P:641succession planning) How to Successfully Prepare Your Family Business for the Next Generation o how to maintain leadership & the entrepreneurial spirit in the next generation? (P: #6 in 505, and 519 (transmitting culture)) the book is Jerald Greenberg. (2011). Behavior in Organizations, 10th Edition.
