Volume 6: 2012 Abstracts 5

Journal of Spirituality, Leadership and Management

Volume 6: 2012

Role of Meditative Foundation Entrepreneurial Leadership and New Venture Success

Malavika Sundararajan

North Carolina Central University, Durham, NC

Binod Sundararajan

Dalhousie University, Halifax, NS, Canada

Sybil Henderson

North Carolina Central University, Durham, NC

ABSTRACT: pp. 59-70.

The inability of CEOs and founders to be effective leaders has been one of the chief reasons identified for nearly 80% of new venture firms’ failures within the first five years of being established. Entrepreneurial leadership has thus begun to garner increased attention as a result of the recognition that entrepreneurs cannot successfully develop new ventures without displaying effective leadership behaviors. While current leadership theories applied to entrepreneurial settings prescribe changing from transformational to transactional as per the environmental demands, a more foundational theory of entrepreneurial leadership that can be consistently implemented through all the phases of new venture creation and management is currently lacking. In order to provide a more consistent leadership style, based on the theory of meditative foundation, our paper proposes a spiritual entrepreneurial leadership model that can support new venture success by increasing founders’ and CEOs’ ability to be effective leaders in varying scenarios.

Key words: Meditative foundation; Entrepreneurial leadership; New venture success