An Entrepreneur — Entrepreneurship STD 11 Commerce — Question

A brief discussion of core values is given below:

1. Innovation and Creativity: These are the most important core values and found among most of the entrepreneurs. Creativity is the ability to see new ways of doing things and innovativeness is the ability to make it work in practice.

Entrepreneurs are guided by these values when they come out with creative ideas, new products, services, processes, etc to solve specific problems of the society. e.g. earlier, hair oils and shampoos were available only in tins and bottles.
Introducing them in small packs has become convenient for customers to carry and use them. This has helped in raising the revenues of the businesses.

2. Independence or Ownership: (Self-reliance): Entrepreneurs drive great satisfaction in their sense of 'independence' or 'ownership’. They all have a very strong and positive ego drive which enables them to define their mission and achieve it through commitment, sense of complete identification, sincerity and hard work.

e.g. in his quest for independence, Dhirubhai Ambani gave up his job in Yemen and returned back to India to start his own business.

3. Respect for Work: The entrepreneurs should have great respect for their work. Successful entrepreneurs believe that they can achieve anything through hard work. The biographies of all successful entrepreneurs reveal that they have achieved the pinnacle of success through hard work. This value provides goal direction, which encourages them to pursue a path and career in which the rewards and incentives are directly linked to the degree and quality of efforts made.
4. Quest for Outstanding Performance: Dynamic entrepreneurs are guided by the value of outstanding performance. Challenges seem to stimulate and motivate them. As they have strong motivation to succeed, they value performance of a high order. Thus, the entrepreneur, due to his/ her quest for excellence, is an ‘over comer' who can resolve problems under pressure. They are persistent and hardworking when things go wrong. e.g. Steve Jobs, always believed in outstanding performance. When Apple phone was launched, he took great care to make the package eco-friendly and light-weight with 3D images on it.