Abstract
Tropical Forestry Services Corporation Limited (TFS), an Australian-based company, is the world’s leading producer and processor of Indian sandalwood. Indian sandalwood (Santalum album) is one of the world’s most valuable tropical hardwoods and is nearing extinction in the wild due to unregulated harvesting. With an entrepreneurial eye, Frank Wilson, the co-founder of TFS, first realized the opportunity presented by the imbalance in the supply and demand of the Indian sandalwood. Since its conception in 1997, the company has grown from an entrepreneurial start-up venture to a publicly listed ASX 300 company. TFS manages the largest area of Indian sandalwood plantations in the world, which is established in Australia’s tropical north; and also operates the world’s largest sandalwood distillation facility, Mount Romance, which is based in Albany, Western Australia. The value proposition, embedded in the company’s strategic entrepreneurial practices, is guided by entrepreneurial leadership at TFS. This has opened avenues for TFS to become the dominant global player of the Indian sandalwood market by 2020. Employing a case study approach (Freeman & Siegfried, Journal of Leadership Studies, 8, 35–39, 2015; Kansikas et al., International Journal of Entrepreneurial Behavior & Research, 18, 141–158, 2012), this chapter identifies how entrepreneurial leadership has led this company to be exemplary in its approach to building East meets West business practices.
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