Posted: January 23rd, 2023
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Part 1(a) This is a discussion response that you will be writing. Should be 250-400 words with in text citations and please use websites that are based in the United States.
There are many skills that contribute to being a good business owner. Growing up, I watched my grandfather manage a successful furniture business which he started from the ground up when he was 19 years old. One of his skills, which is mentioned in our textbook, is leadership. A business owner should be able to guide and inspire, not only their employees but everyone outside the company. It is not enough just to have a great vision for the business. Entrepreneurs need to have the skills to translate their vision into the minds of other people and inspire them to work towards a common goal (Scarborough & Cornwall, 2018). The right leadership skills also lead to collaboration and teamwork as your employees are committed to your vision.
Social responsibility stems from the principle that a business is not only working solely to benefit itself but acting in the best interest of society (Scarborough & Cornwall, 2018). With that in mind, an honest and empathetic leader becomes extremely important. When a leader can empathize with his employees and develop trust within the company, this reflects in their social responsibility. If employees do not feel inspired or valued, it is likely to impact customer satisfaction, which may lead to lower sales and loyalty. A leader that is committed to improving the world is likely to attract talented workers and improve customers’ perception of the company brand (Heyward, 2020).
Heyward, C. (2020). The Growing Importance of Social Responsibility in Business. Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2020/11/18/the-growing-importance-of-social-responsibility-in-business/?sh=5d6c225d2283
Scarborough, N.M., & Cornwall, J.R, (2018). Essentials of Entrepreneurship and Small Business Management (9th ed.). Pearson.
Part 1(b) This is a discussion response that you will be writing. Should be 250-400 words with in text citations and please use websites that are based in the United States.
There are many skills and attributes that are needed to be a successful entrepreneur, I believe the most important skill is having the ability to critically think and problem-solve. Using critical thinking and problem-solving can be applied to many different aspects of a business. For instance, setting up a charter, licensing, logistics, human resources, and many other issues that can arise from starting your own business. An entrepreneur essentially must be a jack of all trades and be able to solve problems without incurring large expenses or expending copious amounts of time. Using critical thinking in instances on when to pivot the business can come in handy, most successful entrepreneurs start a company with a simple product, or service and then change direction once the market dictates such (Scarborough & Cornwall, 2018).
Critical thinking and problem-solving enhance the success of business owners because it ultimately reduces costly errors and ensures that critical resources are used wisely, and when entrepreneurs first start out money and time are most critical (Reckmann, 2022). Entrepreneurs must make decisions constantly, and some solutions to those answers or problems may only work for big businesses, thinking outside the box allows the decisions to be catered to the business at hand, and utilizing critical thinking allows them to solve complex issues that may only relate to that owner’s business. Critical thinking also helps facilitate research and problem-solving analysis which ultimately brings out creativity and innovation, two vital factors of a successful business model (Surapaneni, 2019).
Critical thinking and problem-solving align with the social responsibility of various stakeholders by evaluating all potential solutions and finding the solution that is best fit for that company. Let’s say a company’s goal is to eliminate or reduce waste for social responsibility, which affects many stakeholders in different ways. Customers want products or services that protect the environment, investors want to reduce costs and waste, while workers and management want to stand by the products and/or services they provide with pride. Let’s assume the company doesn’t have a program to reduce waste, use recycled goods, or increase sustainability practices, it is going to take critical thinking and problem-solving to fix this issue, not only solving it efficiently but ensuring time and costs are kept to a minimum. This thought process can be applied to ethics and morals, human resources issues, inclusion, diversification, financial and social responsibilities, and many more parts of a business that affects stakeholders in different ways (Thinking Critically About Social Responsibility, 2015). Critical thinking and problem-solving are also attributes that help enables leaders to motivate and lead employees, board members, and customers about social responsibility or changes in company values, ethics, and visions to become more socially responsible.
Reckmann, N. (2022, June 29). Why Critical Thinking Matters in Your Business. Business News Daily. https://www.businessnewsdaily.com/7532-critical-th…
Scarborough, N., & Cornwall, J. R. (2018). Essentials of Entrepreneurship and Small Business Management. Pearson Education.
Surapaneni, S. R. (2019, October 18). Why Critical Thinking is Crucial for Entrepreneurs? Subhakar Rao Surapaneni. https://subhakarrao.wordpress.com/2019/10/18/why-c…
Thinking Critically about Social Responsibility. (2015, June 5). The Business Ethics Blog. https://businessethicsblog.com/2015/06/05/thinking-critically-about-social-responsibility/
Part 2(a) This is a discussion response that you will be writing. Should be 100-250 words with in text citations and please use websites that are based in the United States.
Hello everyone, my name is Jennifer I live in Tampa and currently working on getting my MBA in Project Management. I work in the financial field for the last 5 years and its been fun learning so many different aspects of it. In my down time I enjoy traveling, reading books, exploring new places and foods, and of course the occasionally lazy day is nice.
For my personality type I got a couple, a Dimond, a transformer, and rocket ship. Looking at the meaning of these I do see how they fit who I am, I like to be strategic and know what I am getting myself into how can things be done in an easy way but still making sure that everything is working properly. I can be very ambitious as well, I like to see change when change should be done. Always looking for ways to improve. For my personal development I believe that this will always keep me going and being aware of things around me and how thing can be changed for the better. Life and business is always changing and its about following that trend as it changes.
Part 2(b) This is a discussion response that you will be writing. Should be 100-250 words with in text citations and please use websites that are based in the United States.
My name is Chanz Williams, and I am originally from San Diego, California, but I moved around because my father was in the military. I currently live in the Hampton Roads area of Virginia. I am married with two children, both boys, names Cameron and Jonathan. I spend most of my time with my children. When it comes to hobbies, I am simple. Everything I enjoy I can do from the comfort of my home, such as playing video games, binging shows, and drinking wine. There is nothing like the comfort of your home. I like to go out and do activities now and then to remain active.
I took the Entrepreneurial Personality Type Assessment and learned that I am classified as a Diamond. I have learned that Diamonds are bold dreamers who start disruptive ventures. The article (Rottenberg, 2015) claims:
“Diamonds capture the imagination of everyone they meet with their visionary ideas for revolutionizing people’s lives. When Diamonds succeed, they can be game changers. But when they fail, the results may be messy and dramatic. Diamonds are brilliant, but it’s often all about them.”
Entrepreneurs with a Diamond personality type include Arianna Huffington, Ted Turner, George Lucas, Mark Zuckerberg, Steve Jobs, and Elon Musk.
In Saint Leo’s code of conduct for Personal Development it states: “Saint Leo University stresses the development of every person’s mind, spirit, and body for a balanced life. All members of the Saint Leo University community must demonstrate their commitment to personal development to help strengthen the character of our community. “Entrepreneurs with a Diamond personality type include Arianna Huffington, Ted Turner, George Lucas, Mark Zuckerberg, Steve Jobs, and Elon Musk.
In the (“Saint Leo University core values, “n.d.) it states: “Saint Leo University stresses the development of every person’s mind, spirit, and body for a balanced life. All members of the Saint Leo University community must demonstrate their commitment to personal development to help strengthen the character of our community.”
I apply the SLU’s core value of personal development in my life in various ways. I have been working on myself for a while now. Prioritizing my life has been very productive, allowing me to do the things I need to do for my family and myself. I meditate here and there. I also do many prayers lately, building my relationship with God. I have been more selective about the foods I put into my body because health has become a big part of my life as I have gotten older
Rottenberg, L. (2015, July 30). Assessment: Identify your entrepreneurial personality type. Harvard Business Review. https://hbr.org/2015/07/assessment-identify-your-entrepreneurial-personality-type
Saint Leo University core values. (n.d.). Saint Leo University Ministry. https://ministry.saintleo.edu/saint-leo-university-core-values
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