Running head: PRE-BUSINESS PLAN 1

Pre-Business Application

Name

Institutional Affiliation

Date

(Total Words:996)
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Pre-Business Application

Introduction

There are various building blocks and factors for successful entrepreneurship. Every

entrepreneur should have the right knowledge to be relevant in the hyper-competitive

business environment. According to Nuti (2017), five essentials determine an entrepreneur’s

success. The first essential is the entrepreneur’s ability to embrace disruption. In some

situations, an entrepreneur cannot afford to sit back and wait for a suitable time or their turn;

instead, they have to move quickly to ensure that their business survives. Another essential

involves becoming a team player on a diverse team (Nuti, 2017). An individual's chances to

accomplish the complex aspects of their business when working alone are lower than when

they do it as a focused team. Nuti argues that business “requires unselfish business

participation, collaboration, and an in-depth choreography.” Business competency requires

diversity and disruptive opinion. Also, when working with a diverse team, an entrepreneur

must adopt the horizontal structures that inspire the team members' working together.

Another essential is defining the start-up’s vision. The vision should be a pointer to long-term

goals. The entrepreneur must understand their intended destination and the possible barriers.

Other essentials are daily training and having fun.

Reflection on my Interest in Business

I am passionate about business. In my view, business is the tool and means to reach

various desired destinations. As a flexible tool, business facilitates creative expression and

converting ideas into actual products and services. Unlike office and professional

employment, the business allows an individual to try anything new as many times as they

want. Unlike in a professional career where failure is not so much welcome, business

welcomes and accommodates failure because it begets and teaches success.

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Another crucial aspect of business that makes me passionate is that business can set

any entrepreneur free and loose from all kinds of captivity. Businesses are the best way to

deal with all kinds of fear. It facilitates making oneself free from all the financial bondages

that they may experience while working for other institutions. For instance, when working as

an employee, one is sure that the salary is a constant figure at the end of the month with a

slight difference is some occasions. However, when one runs their business, they cannot be

sure about the returns. Although there are cases where the business does poorly, there are

cases that the return exceeds the entrepreneur’s expectations. Also, a business is a tool that

sets one free from resources and time constraints. Such freedom is necessary for more

creativity and final implementation of the business projects that an individual may have.

My business interests and business degree works for my well-being and towards my

achievement of future goals. The interest facilitates my choice on what to deal in. However, a

business degree is the most important aspect for my future success. The degree equips me

with the right understanding of elementary economic principles. It enables me to be a well-

round thinker and problem-solver. More importantly, the degree's business skills help me

understand the impacts of world events on the markets. This understanding is inevitable in

understanding and remaining relevant in any business activity. Business is a hyper-

competitive venture that calls for alertness at all times. Also, the degree equips me with the

necessary skills that would enable me to assess my venture’s financial health. Therefore, my

passion and degree preparation are tools for making better and informed investment

decisions.

A strategy towards Working in Diverse Teams

In my view, having documented diversity policies and procedures and communicating

them is the best way to go. The firm should take it upon itself to have the employees read and
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sign that they have understood the policies. Also, the firm should consider holding mandatory

diversity training. This training offers the best platform to review the existing policies and

make the necessary adjustments when they are deemed necessary. The training should have

practical examples where the employees are given specific scenarios to practice the diversity

scenarios that may come up. According to Phillips (2017), informational diversity is a key

contributor to innovation. When a firm brings its employees together to work on specific

problems, the individual team members contribute different perspectives and information

towards finding the solution.

On the other hand, Bock and Welle (2014) argue that making the unconscious

conscious is an activity that requires the right diversity policies and procedures. When

individuals work in groups, they can gather the right facts, create the right structure for

decision-making, subtle foster cues, and foster awareness and accountability. Also, Hewlett

(2011) suggests that the right diversity policies would foster equity and fairness even for the

minority groups such as LGBT employees. Lepore identifies the missing ingredient of r

innovation as inclusive leadership. The success of an organization calls for inclusive

leadership. Such a leader should create intentional opportunities, give the right voice to the

team’s thinkers, facilitate the members getting on board, harnessing the team’s diversity, and

accomplishing the business’s goals.

Importance of Inclusive and Creative Leadership

Inclusive and creative leadership works hard to ensure that the entire organization

respects, manages, hears, and applies diversity thinking. The moment the leader can achieve

all these factors, they can encourage the members to work towards their goals. Such

leadership facilitates the sharing and applying of new ideas and even makes suggestions on

how to do things differently. The leader can easily and comfortably get the employees into
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doing the right things aligned with the company’s goals. In the end, the company enjoys

massive success (higher revenue, better productivity, and higher employee retention) because

of less internal friction among the employees.

Conclusion

In summary, the success of any business requires passion, special skills,

understanding, and knowledge. Passion is internal and depends on the individual’s feelings

and perspectives on what they can do. Also, such skills come from an education program

such as a degree program. Such programs prepare passionate entrepreneurs to translate their

passion into a working business. Therefore, any successful business should rely on education

preparations.
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References

Bock, L., & Welle, B. (2014). “You don’t know what you don’t know: How our unconscious

minds undermine the workplace.”

https://blog.google/inside-google/life-at-google/you-dont-know-what-you-dont-know-

how/

Dizikes, P. (2014). “Study: Workplace diversity can help the bottom line.” MIT News.

https://news.mit.edu/2014/workplace-diversity-can-help-bottom-line-1007

Hewlett, S., A. (2011). “The Cost of Closeted Employees.” Harvard Business Review.

https://hbr.org/2011/07/the-cost-of-closeted-employees

Lepore, M. (n.d.). “Why Inclusive Leadership is Essential to Innovation.”

https://blog.thinkherrmann.com/why-inclusive-leadership-is-essential-to-innovation

Nuti, B. (2017). “The 5 Essentials Entrepreneurs Need to Succeed.” Entrepreneur.

https://www.entrepreneur.com/article/292076

Phillips, K. (2017). “How Diversity Makes Us Smarter.” Greater Good.

https://greatergood.berkeley.edu/article/item/how_diversity_makes_us_smarter