ABSTRACT
This chapter explores a conceptual idea of the process of transformational leadership in supporting entrepreneurs and the entrepreneurial community. The development of an entrepreneurial community may depend heavily on entrepreneurially minded leaders, as each leader's capacity and preference for innovation and risk may also encourage new ventures of teams to surmount riskiness of newness. Leadership exists at various dimensions and levels of analysis within a community: formal and informal, elected officials, key citizens, entrepreneurs, industry representatives, and businesses and nonprofits of various sizes. There are three major theoretical approaches to leadership: trait-based approach, behavioral approach, and situational approach. The concept of transformational leadership has slowly come to light, and it has been shown to be an effective leadership style that positively influences outcomes in various settings including business and entrepreneurship. Transformational leadership is particularly relevant for fostering the formation of entrepreneurial community culture.
