Week # 12

• Based on what you read in the first two pages (pages 3 and 4), why are virtue and integrity so vital to an economy?
• In the example of the stock market, we trust there is no inside trading or other shady activity going on in the organizations we are investing in. These companies also have a duty to run their businesses honestly because people depend on their success. We can't have an economy built on lies.
• According to Charles Handy, what is the “real justification” for the existence of businesses?
• To make a profit so the business can do something more or better
• What are two solutions proposed by Handy that you agree with? Why?
• Measuring success on outcomes for others. I think as a business you really should always be thinking about how what you do impacts the customer. When you stop doing that, you stop innovation and if all you focused on is money then you'll lose sight of what makes you relevant in the market.
• I like the idea of sharing dividends with employees. I have seen a lot of successful companies that do this. The only issue I see with it is not everyone is motivated by this because usually to get dividends, everyone needs to work hard,  and not everyone is a team player. It's also hard because the skin they put into the game is their time, business owners and investors put in money, which came by means of their hard-earned time and they are putting faith in each dollar that the company they invest in will be profitable, so the attitude of employees should match the investors, which is every hour they invest in the company is in the hopes of profitablity. 

Lessons Learned

Cheryl Sandberg’s presentation was eye-opening for me. I hadn’t thought about the Vision companies like Apple and Starbucks had early on. I especially enjoyed that the birth of Starbucks came from a desire to provide decent coffee. Starbucks spawned an entire culture that is obsessed with drinks. Apple did something similar so Maybe there is something to be said about keeping to your vision. In her examples, all the businesses went on to be major influencers in their industry.

 As I strive to become a business owner, It’s important to not lose track of why you started your business and keep that in mind. Things will always be trying to take you away from your vision but if you lose track of it, you could go down paths with undesirable destinations. With my small business, I’ve always tried to provide an affordable, family-friendly option that leaves people feeling good when they leave. One of my biggest challenges is finding people to work for me that understands my vision. If I have someone to help me that isn’t friendly, it can throw a wrench in my operation. 

Lessons Not Yet Learned

In “A New Breed of Entrepreneur” The speaker said entrepreneurs over the last few decades have taken their wealth, power, and influence to make changes that have affected things like smallpox and malaria and can take their wealth power, and influence to help end climate change. He spent a long time talking about smallpox, which is relevant today with COVID, but I’m not really sure I understand his presentation theme. I think he’s trying to say the new entrepreneur will look for ways to make change outside their industry and benefit the world. My only issue is this is at Stanford University, which is an IVY league school, but most of the wealthiest people today do not have degrees from IVY league schools and a lot of them are college drop-outs. I don’t mean we should drop out of college to make our mark, but it seems the audience and message didn't gel.