Entrepreneurship and business leadership are two influential aspects in human live. The two ingredients have been driving key developments and living styles for human beings. Entrepreneurship is the process of introducing a new commodity or a service to improve the level of satisfaction to consumers. In this case, human life improves, as a result, of a higher level of satisfaction. Business leadership comprises of the application of entrepreneurial and personal skills, to run an established business effectively (Anders & Stevenson, 2005). The two aspects are, therefore, essential and should be applied together to enhance achievement of business goals and objectives. There are several business leaders and entrepreneurs, who come up with tremendous strive in their business, and influenced the world of business. This paper discusses about Bernard Arnault one of the successful business leader and an entrepreneur.
Bernard Arnault, born on 5th March 1949, is one of the prominent businessmen known across the world. He is a French man and well known as LVMH, Chief Executive Officer. He is, according to Forbes Magazine, the world fourth richest person. Arnault is one of the graduates in the fieled of engineering from Ecole Polytechnique. He joined his father in running a family company; Ferinel, in 1971. In 1979, he took up the business leadership as the chairperson and the CEO. He relocated to United States in 1981, and introduced Ferinel in Florida, which picked up successfully (Forbes, 2012). Arnault, moved back to France in 1984 and led Financiere Agache Inc, as its CEO during the liquidation process. He and his family managed to produced $15 million, to safeguard the perfume and fashion department from liquidation. Together with three others, Arnault formed LVMH, a luxury company. Initially, the management of LVNH faced many challenges, as a result of existing leadership differences. Arnault took up the overall leadership and resolved the differences, from this point LVMH has made tremendous expansion.
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Bernard Arnault has demonstrated numerous business leadership and entrepreneurial skills. These aspects include innovation, determination, risk taking, and problem solving among others. Bernard is an innovative business leader, who applied creativity in various occasions to gain competitive advantage. He assisted in coming up with LVNH, and through innovation and application of creative skills, the company grew into a world leading fashion and design company. He comes up with products designed to appeal people from different ages. He makes the company’s products to sell furiously, and hence, assures immense amount of profits.
Bernard Arnault is a visionary and a person full of determination business leader. He focuses on the future and mobilizes others to see sense for the future. In this case, he is looks forward to achieve his goals and those of companies he ever led. He never turned back, when he focuses on a given goal and objective; he takes all it takes to ensure nothing stops him from succeeding. For him, it does not matter the Ferinel Company is failing, what matters is whether he can do something to achieve it. In addition, he does not give up on LVNH, even after everyone is in conflict; he comes out with determination, takes up the leadership and everything runs smoothly (Anders & Stevenson, 2005).
Arnault is also excellent in problem solving. He overcomes conflicting issues and looks for the way forward. When there are challenges in Ferinel and everyone is running away, he sees some solutions to the problem. He eventually comes out successfully and settles the pending problems to the satisfaction of all stakeholders (Forbes, 2012). In addition, he is a risk taker. He commits his own resources and those of family into risky businesses such as Ferinel. At one time, he moved to United States to open up a functional unit there. Lastly, he committed his time and resources to build LVNH for fifteen years.
In conclusion, business leadership and entrepreneurship is a complex process. It calls for application of knowledge and skills before achieving intended results. Business leadership is essential to enhance achievement of business goals and objectives. Bernard Arnault is a living example, who has achieved his entrepreneur and business leadership goals. Innovative, determined, risk taking, and problem solving are just, but some of Bernard’s business leadership qualities.