Study of the relationship between leadership abilities and components of entrepreneurial activity

Abstract

The article presents the results of a study on the relationship between leadership abilities
and components of entrepreneurial activity. The components of entrepreneurial activity are represented
by 3 scales – financial independence, managerial skills, and social aspect. Spearman’s rank correlation
coefficient was used to analyze the relationship.
The results show a correlation between leadership abilities and financial and managerial scales. A
positive correlation was found between leadership abilities, financial well-being, financial independence,
planning and forecasting in management.
A negative correlation was found between leadership abilities and the use of a systematic approach. It
has been established that the desire to increase financial well-being is associated with leadership abilities.
The more an entrepreneur shows leadership abilities, the higher the opportunity to achieve financial wellbeing and financial independence.
As it turns out, developing leadership skills in managers and executives is essential to run a successful
business. The relationship between leadership abilities and the social aspect was not identified.