Venture Leadership under Uncertainty: An Emerging Country Perspective

Abstract

Strategic planning and entrepreneurial leadership are needed for effective navigation into the volatile business environment in an era of the knowledge intensive and fast-changing business eco-system. The growing volatile and competitive business climate demands a new sort of “leadership” different from the conventional form of leadership. As a result, having either management or entrepreneurial traits in venture leaders is insufficient for business success. Leaders must be capable of both entrepreneurship and management skills to excel. This study emphasizes the notion of venture leadership that refers to entrepreneurial leadership combining leadership characteristics with an entrepreneurial mindset. In addition, venture leadership involves developing new business processes, new products and prospects for growth in established businesses, collaborating with other social institutions to combat neglected social issues, engaging in political and social movements, and contributing to the modification of prevailing policies and schemes executed by the government and civil organizations. Venture leadership is an emerging concept in business management that challenges the status quo. As a result, the relevance of venture leadership is addressed in this paper by investigating the idea of venture leadership, leadership skills, and ethics in the emerging country context of Thailand.