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Strategic business management

Write a 7 page essay on Strategic Business Management and Its Comparison to the Case of iCreative.The researcher states that for expansion of business through internal venturing and joint ventures, iCreative requires managers and leaders who possess strategic leadership skills along with market intellect and cultural awareness of foreign markets. Being an entrepreneur and introducing a new concept in the market requires a different approach altogether than running family-owned businesses or other established organizations, be it a company or a partnership. Where every organization model requires a different leadership approach, entrepreneurship demands innovation and creativity. Entrepreneurial leaders are required to be dissatisfied with the status quo and should have the ability to question imperfections and present a better alternative. For this purpose, learning ways of existing businesses and modifying them effectively is the gist of entrepreneurial leadership. Entrepreneurial leaders need to have flexibility in their approach and ability to learn continuously. Furthermore, these leaders are expected to have authenticity in their tone when they communicate. Such leaders not only share their insight but also have the humility to encourage their peers and subordinates to share their views. Since an entrepreneurial model is never perfect in the inception, therefore feedbacks and ideas of a team could help this new venture. Entrepreneurial leaders are also expected to have a vision and ability to examine their organizations at different levels of businesses. It not only includes operational and strategic management levels but also involves capability of identifying gaps between existing and desired efficiency and effectiveness. Entrepreneurs are provided with a huge amount of advice and negative feedbacks having the critical effect on business performance.

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