Forum Replies – Business Class
I need a 250-word reply to each of the following two main forum post by peers in my class. (500-words total)
When analyzing the responsibilities of an entrepreneur it is important to first understand what the factors are in the decision making process. As an entrepreneur one is automatically positioning themself in a leadership role which requires them to make decisions. In regards to decision making, Jerry Colangelo (1999) comments, “Stick to your basic beliefs, your fundamental values, to see you through and help you maintain an even, ethical foundation” (p. 62). When making a decision that is conflicting with your personal ethics and instincts, I think the Colangelo says it well, stick to what you know and what you believe in because that is your foundation of knowledge (Colangelo, 1999). Colangelo (1999) also discusses the importance of sticking to your core values. He says, “Stay true to who you are, to where you came from, to what you believe and know. Then, no matter what life throws you-and life has a tendency to throw some pretty stunning curves-you will be able to maintain your balance, your emotional and spiritual equilibrium” (Colangelo, 1999, p. 108).
Decision-making at any level can be difficult and I really like the way Colangelo emphasizes to stay true to who you are (Colangelo, 1999). This is the best way to describe how to handle any decision making conflict. It is important to stick to what you know because it gives value to your decision and reason for why the decision was made. So whether it is the right or wrong decision there is a purpose behind it and there is always something to learn from the situation (Maxwell, 2013).
The values I have found to be most important when making a decision are some that I learned from John Maxwell (2013) in his lecture on the 5 levels of leadership. When making a decision it is important to listen, observe, and learn (Maxwell, 2013). Maxwell (2013) discusses these terms in relation to being a successful leader, however within the foundation of being a successful leader one also needs to be able to make decisions, which brings us to the 3 factors mentioned above. It is important to listen when making a decision because that allows you to absorb all the information involved. It is important to sit back and observe because it allows us to analyze situation and how the decision we make will directly or indirectly effect those involved. And lastly, it is important to learn while making the decision and after the decision has been made. It is important to learn because that means you are growing and building your knowledge to help you make a more clear and responsible decision.
I experience many moments when I have had to trust what I know and make a decision at my job. I currently work for a small design studio and my boss tends to be out of the office a lot. When he is gone I have been asked to take on a more managerial role, which requires me to make decisions. When I am required to make a decision that maybe I am not 100% sure of I always go back to what I was taught by my boss and what I know and then I weigh all the factors of the situation to make sure I make an educated decision that has thought and logic behind it. Whether the decision is right or wrong, I gained respect and trust from my boss because he knows I carefully thought out my reasoning and made the best responsible decision at the time.
Colangelo, J., Sherman, L. (1999) How you play the game: lessons for life from the billion dollar business of sports. New York, NY: American Management Association
Maxwell, J. (2013, September 10) John maxwell the 5 levels of leadership [Video file]. Retrieved from: https://youtu.be/aPwXeg8ThWI
Perez (2015) said, “There is a general perception that one of the main reasons corporate image is so intimately linked to corporate social responsibility nowadays is due to the change in the expectations people have about the role of businesses in society…Companies should seek their survival through the commitment to the needs and expectations of stakeholders” (p. 1).
Organizations gain customers trust by providing excellent service and maintaining a good relationship with their clientele. Servicing customers and being patient with them when they have problems is just one simple way companies can build trust with their clients. By not only providing exceptional service and fast and effective problem solving to their customers, companies should continue to gain more attraction because people will become loyal to their brand. Companies should also be cognizant of how and why they market their company as socially responsible. Ensuring that they are aware of the views of their clients, companies can make sure to tie themselves to causes that are involved in those communities. Perez (2015) said that companies should live by the idea that they have a commitment to the stakeholders they serve (p.1). By using this mentality, major corporations as well as small mom and pop shops can continue to be viewed as socially responsible and earn more loyal clients.
The first company that comes to mind when discussing controversial companies that have lost trust is BP and the big oil spill that affected a multitude of people, resources, and ecosystems. On the flip side, when I think of their company, I also think about how hard they worked to gain back the trust and loyalty of their clients. Since I have a degree in Public Relations, I immediately think of all the strategies they had to use and the proposals they had to make in order to gain peoples’ trust back.
They ways in which I will continue to be socially responsible are through my dedication to my employees as well as my customers. By following Perez’s simple direction of surviving by committing to clients, I can see the process being challenging but very rewarding.
Pérez, A., & Bosque, I. R. (2015). How Customer Support for Corporate Social Responsibility Influences the Image of Companies: Evidence from the Banking Industry. Corporate Social Responsibility & Environmental Management, 22(3), 155-168. doi:10.1002/csr.1331
 Main forum question was: In the textbook, Colangelo states that “education and experience will teach you how far you can trust your intuition” (p. 26). Entrepreneurs make decisions that impact organizations both internally and externally. In such a position, how do you make decisions when they conflict with your personal ethics and instincts? What personal values and ethical standards do you consider most important when making decisions? Provide an example that you have experienced or observed that supports the idea of trusting your intuition and ethical beliefs.
 Main forum question was: Successful companies try to maintain a positive relationship in the community in which they do business. In the textbook, Colangelo explains that representing your core values in the community wins loyalty to your brand and attracts new customers (p. 62). Entrepreneurs should remember that part of a company’s stewardship includes socially responsible actions in the community.
In what ways do organizations gain trust and show they are socially responsible stewards? How is trust lost and how are reputations damaged? Discuss examples of companies that are socially responsible and have earned the trust of the community. Conversely, discuss other companies that have lost the trust of communities and damaged their reputations through social irresponsibility. What will you do to ensure that your organization maintains a positive reputation in the community?