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Exploratory and value-added innovation require different leadership styles and behaviors to succeed. [14] Value-added innovation (PwC, 2010) involves refining and revising an existing product or service and typically requires minimal risk taking (compared to exploratory innovation, which often involves taking a large risk); in this case, it is most appropriate for a leader for innovation to ...
Some examples of companies that drive breakthrough innovation include SpaceX, the leader in commercial space; Airbnb, which expanded the hospitality industry's capabilities; and Salesforce, an ...
Other definitions of entrepreneurial leadership have also emerged: An entrepreneurial leader will proactively identify opportunities to gain advantage through creativity, innovation and market understanding and then hold themselves responsible for delivering what customers need via the effective management of risk to optimise outcomes for both the organization and the customer.
According to Burns, transformational leadership can be seen when "leaders and followers make each other advance to a higher level of morality and motivation." [8] Through the strength of their vision and personality, transformational leaders can inspire followers to change expectations, perceptions, and motivations to work towards common goals.
From this, it can be seen that a transactional leader is negatively affected when the emotional level is high and positively affected when the emotional level is low. Transactional leadership presents a form of strategic leadership that is important for the organization's development. Transactional leadership is essential for team innovation.
The goal of leader development is "the expansion of the person's capacity to be effective in leadership roles and processes". [1] The two central elements to this are leadership can be learned, people do learn, grow, and change, and that leader development helps to make a person effective in a variety of formal and informal leadership roles.