Entrepreneurial Leadership Competencies in the Light of the Case of Hangaváry Winery in Tokaj

Abstract

THE AIMS OF THE PAPER

This exploratory paper summarizes the findings of the first step of a multi-stage research into entrepreneurial leadership competencies. The first step aims to identify and structure leadership competencies specific for successful entrepreneurs. Creating such an entrepreneurial leadership competency model may lead to a number of practical applications. Just naming a few, business schools with entrepreneurial development programs developing their curriculum, venture capital firms’ selection and portfolio-management decision may benefit from such a model. The results may improve the incubation programs of entrepreneur accelerators and also consultants working in the sector might find it useful to better understand their clients’ issues.

METHODOLOGY

In this research, preceded by literature research, I identify key entrepreneurial leadership competencies in the case study of a successful Hungarian Winery. The paper presents a gap-analysis for the competency-set of the entrepreneurs in the case-study and highlights possible consequences of missing key leadership competencies. The paper aims to identify, specify and structure a group of competencies considered as key success factors for prosperous entrepreneurs. Key competencies were identified by coding the case-study and also applied qualitative and simple quantitative research tools.

MOST IMPORTANT RESULTS

Five groups of competencies were identified in the study: personal urge, planning, social, executive and organizational. It is very rare that a single person is armed with the essentially divers set of competencies. Combined competency sets of members of family businesses or other corporate ventures are more likely to present the necessary, manifold competencies.

RECOMMENDATIONS

Entrepreneurs play a similar role for established enterprises like stem cells in the development of living organizations. While stem cells are with the unique ability to develop into specialized cells of an organization to grow new tissues and organs, entrepreneurs also need to be equipped with many competencies of most of the functional leaders operating in large, well-structured corporations.

Looking at the identified 5 competency-groups the personal urge provides motivation to function as an entrepreneur and all entrepreneurs shall possess a form of those competencies. Leveraging planning, execution or social competency-groups vary in entrepreneurs based on the individual leadership style. Mastering the organizational competencies may become more important for entrepreneurs leading mature ventures and those play a significant role to build sustainable, healthy, and growing enterprises.