THE ROLE OF ENTREPRENEURIAL LEADERSHIP IN SHAPING MANAGEMENT PRACTICES IN SMALL AND MEDIUM ENTERPRISES

Abstract

Small and medium-sized businesses (SMEs) are frequently referred to as the foundation of national economies due to their role in regional growth, employment, and innovation [1]. Since they have fewer resources than major organizations, SMEs are largely dependent on the leadership's vision and skills. How well leaders are able to blend sound management techniques with entrepreneurial drive often determines their development and survival. The most successful businesses, in my opinion, are those who are able to channel their entrepreneurial determination into well-planned strategic action. According to Gupta et al. [2], entrepreneurial leadership fosters innovation, risk-taking, and opportunity recognition, while strategic management makes sure that these concepts are applied methodically and sustainably [3].