**6. Conclusion**

The concept of venture leadership has been discussed thus far. Discussions have revealed that leadership is built over a lifetime of training, adjustment, and reflection, as discussed throughout this section. There are no absolute facts in leadership; no one can be a leader in all situations. Each leader must identify the practices that fit them given the circumstances. Although, there are no absolutes, there are leadership principles that are highly applicable to the success of a venture and have been passed down across generations. For instance, in line with the basic rules of smart business practice, the ethical codes of humility, integrity, and honesty, apply to every type of venture. Furthermore, the central skills of venture leadership should serve as a foundation for ongoing education. As previously stated, many venture leaders have never received formal management or leadership training. As a result, many people master the skills and craft of management and leadership while on the job. Although, this is admirable and tolerable, however the venture environment in most cases is far too challenging to allow for such an inefficient and slow learning process. Although, formal leadership training is not required for ventures, having a conceptual model to analyze the situations or events that occur during the operation of a business is beneficial. Conceptual frameworks give order to the chaos of leadership. The fundamental skills discussed in this section are only intended to serve as a springboard for further reading and investigation into the principles and concepts that define effective management and leadership.

*Venture Leadership under Uncertainty: An Emerging Country Perspective DOI: http://dx.doi.org/10.5772/intechopen.102870*
