Question

from a business point of view ( not psychological ) :

a. Explain the meaning of values from a business point of view ( 100 words )

b. explain how values impact innovation and entrepreneurship from a business point of view (300 Words) ... u can use some of the following values as examples :

- ‘Universalism’ is a value type that gives priority to social justice and tolerance for all.

- Benevolence’ means promoting the welfare of other people.

- Tradition’ is formed from values that represent respect for traditions and customs.

- Stimulation’ is a group of values that reflect the preference for an exciting life.

- Hedonism’ is a value type which emphasizes a preference for pleasure and self-rewarding.

- . Strong value of ‘Power’ usually indicates a person who appreciates social status.

Answer 1

Answer 1- Any business should have value at its heart. It's your business, your ideology, your purpose to be. The principles of your company will help drive your corporation, administration and employees in the right way. Company ideals would be as follows: the principles on which you and your employees advocate the views and behaviours of your workforce and the code in behaviour in the company. Customer values are the service that you should demand when working with your business. Values are the kind of service. Seek to explain each value and the significance behind it when listing the values. Work recalls to-the-point principles and clients and associates accept them more readily. You will need a short clarification, but do not confuse the principles. You must make your principles part of all your company does in order to have an impact on your company and this can be done by following ways:-

Stand up constantly for corporate standards. Be brave – you might opt not to travel a certain distance if it doesn't suit into the broader vision. Talk about your beliefs regularly and check new ideas and feedback for how well they suit your beliefs. Select and reward workers for their principles, not just their expertise. In hiring and helping workers, for example, beliefs are a primary criterion. Core principles educate workers.

Answer 2- Let’s start with defining what actually entrepreneurship and innovation stands for so entrepreneurship is a term defining action analysis and risk management behaviour, which results in new opportunities for individuals or organisations. It's a function and action that begins planes and organizes a company. Tolerate and handle their risks dynamically. Whereas innovation happens as a company develops new systems, services or goods that influence successful market change. This can include enhancing or beginning from scratch existing methods or procedures. The overall goal is to re-invigorate a business, build new values and improve profitability and growth.

If we talk about benevolence than we can see that the act of benevolence means to promote the employers in the workplace and encourage their work. Companies track benevolence using formal instruments (feedback mechanisms, incentives and fines, etc.) to ensure that executives take adequate action to ensure workers stick with the organization and are empowered to work well.

Now Universalism is a program or law, irrespective of ethnicity, class, nationality, culture or religion, is believed to refer to all citizens everywhere. This is the principle which ensures equality in the company and no one would be devoid of his/her rights in the company.

Therefore having values and act according to them is a rudimental nature of the organization and the employees would get benefits out of it and if not benefits then no one would witness unnatural act or response in their work culture.