An Entrepreneur — Entrepreneurship STD 11 Commerce — Question

Milton Rokeach has defined values as “beliefs that guide actions and judgement across a variety of situations.” Values determine what people consider to be good or bad for a civilised society. A civilized society considers qualities like honesty, truthfulness, integrity etc., as important for happy a healthy living. These set of beliefs that provide standards which guide behaviour is known as values. In relation to business, social values define the objectives of business as well as the manner in which business affairs should be conducted. Entrepreneurs share some of these qualities that guide and direct them and hence they have come to be called entrepreneurial values. It can be summarised in the form of a diagram.

Core Values: Some research studies have revealed four core values that are generally possessed by dynamic entrepreneurs. These values are:

1. Innovation and creativity.
2. Independence or self-reliance.
3. Respect for work.
4. Quest for outstanding performance or achievement orientation.

However, these values are not found in the same degree among all the entrepreneurs.