Abstract:

The role of an entrepreneur has changed significantly over the years. It is important to study and understand the knowledge and qualitative characteristics necessary for business leaders in order to guide the education process. The economic, social and technological changes have highlighted the importance of leadership in conducting successful business. This research focuses on opinions of entrepreneurs, businesses and students on what competences are required for a successful career and personal development by utilizing interviews, questionnaires and focus group discussions. The goal of the research is to corroborate the opinions of business management student’s and entrepreneurs of Latvia on important competences in business by analyzing the research results on the role of leaders and leader competences. The research applies document analysis, logical constructive, monograph and analytical methods. The interpretive paradigm was chosen for research. The interpretive paradigm tries to understand human experience in a subjective perspective and is oriented towards conscious activity – therefore oriented towards the future. The paradigm in essence includes experiences of individuals and their everyday mutual interaction.