Entrepreneurial Leadership and New Venture Innovations: The Two Faces of R & D

Abstract

This study aims to contribute to the knowledge of leadership styles and entrepreneurial orientation at small and medium enterprises (SMEs) as well as their effects on business performance. Entrepreneurial leadership and continuous innovation are vital components of twenty-first-century communities and organizations. The concept of 'visionary leadership' has been changed to 'entrepreneurial leadership' in 21st century. Leadership is one of the most essential ingredients for entrepreneurial success yet it is conceptually elusive. Most business leaders would agree that innovation is vital for delivering business results and maintaining competitive advantages. The climate demands that organizations must adopt a new model for improving profitability, increasing competitiveness, allowing for globalization and providing superior customer care. Entrepreneurial leaders must realize the importance of environmental, social, and global issues while creating an atmosphere of innovation designed to help followers become more entrepreneurial themselves. Research and Development (R&D) culture is the engine for sustained product innovations and key driver of continual growth. R&D fuels sustainable economic expansion by creating high-wage jobs, world class exports and the growth of productivity. A model has also been developed to test the effectiveness of the leadership and innovations in Indian SMEs.