We live in times where we are surrounded by the rise of businesses on a mass scale, some of which are getting scaled towards becoming unicorns. We have charismatic and innovative entrepreneurs who are leading organizations by breaking conventions and rethinking continuously to reach out to the audience, which is always in the loop of waiting for the next big thing & being enthralled. Our future is being shaped by these entrepreneurs, some of whom have studied for an IIM Online MBA and are visionaries who dream of making the unthinkable fit into our reality.
These entrepreneurs are driven by the tendency to derive the most out of the employees and make big decisions that are harnessed out of the resources available, which is learned in the IIM Executive MBA program. To be a unique entrepreneur, one should have a set of values that define the management style, structures, and conduct when balancing the business challenges with the gains from the product/service on which the entire business operation is centred. This post signifies the values underlying the strengths that an entrepreneur carries with himself/herself.
Personal Values
Entrepreneurs are defined by their charisma, morality, and beliefs, which govern their conduct with the employees and stakeholders of the business that he/she is heading. This involves building connections through tracing common grounds with each other, which is an advantageous opportunity to build a human connection that will come in handy when one needs the support of the subordinates for daring and ambitious decisions learned from the IIM Online MBA.
In the line of businesses, there is a tendency for dealers to cross the line, which can affect the masses who are the market audience. The entrepreneur, who studied IIM Online Executive MBA, must define himself/herself by drawing the line and dealing with partners who share the same sentiment and values. Having personal integrity, which goes along with the spirit of respecting basic elements, can take you places where one doesn’t have to regret looking back.
An entrepreneur, who is a student of IIM Online MBA, should instill personal values in his/her employees so that all the departments under the organization are not prone to corruption and shady deals below the table. The entrepreneur must inspire integrity by being truthful in each initiative taken up with courage and involving the employees in partaking in ideas & innovations that could transform the organization’s current stature in the market. The conduct of company affairs takes up personal values as a foundation for thinking clearly about the demands & output required to define the company’s actions.
The personal values that define an entrepreneur over time, through which the business expands, are given in the following:
- The entrepreneur can balance altruism and personal agendas in creating strategies for keeping the market audience’s needs and wants with care and consideration.
- Enhancing dependability tests the leadership of an entrepreneur by professing hope among his/her employees during the bad times the company goes through.
- An entrepreneur’s integrity defines the foundation of the business, on which it strives not to compromise the values on which the company has made it so far through trials & tribulations.
- Generosity is a value that an entrepreneur carefully uses to acknowledge the hard work of subordinates with incentives & rewards, but he/she could be equally strict so that the employees don’t take this value for granted.
- Several entrepreneurs across the world are known to be associated with the value called courage. Courage drives an employer to make fantastic decisions that are unconventional and daring, which lead to upscale transformation.
Professional Values
An entrepreneur is defined by his/her approach to carrying out decisions that are taken responsibly. Since there is no ‘I’ in a team, as learned from IIM Online MBA, an entrepreneur receives consultation from experts who work for his/her business, planning out strategies that align with the vision of the entrepreneur. There needs to be a certain respect for hierarchy, as well as letting the subordinates take charge by keeping them in control.
This is where the professional relationship between superiors and subordinates comes into play. Teamwork is a must, and a certain degree of independence must be given so that there are more innovations and spiritual ownership on the kind of product/service that is being pivoted or redefined from time to time, as learned from the IIM Executive MBA. There must be a line drawn between colleagues and superiors despite the friendliness. This gap enables the use of strictness in reaching targets.
A mistake must be owned instead of making excuses for it, and also, the entrepreneurs, who learned from IIM Online MBA, must be aligned with this mindset since he/she is the final stakeholder in the business with whom the final decision lies. A winner’s mindset must be implemented so that the machinery dynamics of the organizational structure don’t stop and continue towards the direction of growth.
The professional values associated with an entrepreneur are given in the following:
- Academic Discipline defines the background of an entrepreneur who has his/her knowledge and set of skills and how he/she bring initiatives to the table.
- Drawing the line between colleagues and subordinates shows respect to be a serious leader who doesn’t want to be taken for granted.
- Professionalism in an entrepreneur gives them/the ability to run the business by the books or redefine the rules within the confines of the broader entrepreneurial playbook.
- Applying confidentiality in sensitive matters refines the leadership space from which the entrepreneur operates, which is essential for decision-making when there are high stakes involved.
- Team spirit spreads the operational capability of an entrepreneur to divide project roles and implement targets.
Social Values
We are surrounded by human beings who are also known as social animals. Hence, we live in a world where we are connected. Every action we take has its own set of consequences for society. Hence, the presence of a business within the society contributes towards employment, social services that uplift the ones in need, and the features of a product/service helping customers with better assistance towards their well-being needs and wants, which is taught in the IIM Online MBA.
An entrepreneur traces his/her purpose and ties it to the product/service as a boon towards the betterment of society, as learned in the IIM Executive MBA. Sometimes, this is implemented in the form of corporate social responsibility, which is defined by providing generosity, adopting selflessness, and receiving gratitude, which drives the meaning behind the brand. The brand value is derived from the social responsibilities undertaken through the sales of the product/service.
These social values aligned with the company help them keep a presence in the market and drive growth with new added values from time to time. It is also marketable, which adds innovations by shifting or expanding user bases. That’s why entrepreneurs establish authority in thought leadership by evolving via rebranding themselves to build social connections associated with the product/service features.
The social values that are abided by entrepreneurs are given in the following:
- Developing respect within the organization among everyone to create a non-toxic work environment.
- Inclusivity and diversity in hiring employees from diverse professional & cultural backgrounds by entrepreneurs who want to get the best out of their employees and promote diversity.
- A sense of community among employees is inspired by the entrepreneur when he/she develops the workplace into a second home.
- Practice of equality through opportunities for redressal implemented by the entrepreneur, where everyone understands the importance of adjusting in a common space via common grounds.
- Maintaining fairness is a must for every entrepreneur if he/she expect stability with the employee morale.
Conclusion
IIM Online MBA is the bedrock for budding entrepreneurs who study theories and practical management skills, but also learn how to be authentic leaders by maintaining a balance of company goals with the values that are required to sustain as an entrepreneur. To make a company that is more than just a few buildings and manpower, the values govern its sustenance in the long run. The IIM Executive MBA courses teach the leaders of tomorrow the essence of a human touch to the corporate machinery.
