Name: Airra Novelle P.

Sanchez Section: BSTM 3-1BP Date:09/25/2023

Activity

 In your opinion, how does value creation affect entrepreneurship?

 Will you aspire to have a business that creates value for society or a company that makes value
for the shareholders? Why?

 The creation of value is an important part of entrepreneurship that has a direct impact on the
success and sustainability of any business enterprise. In my opinion, value creation is critical to
creating the entrepreneurial landscape by encouraging innovation, attracting customers, and
fostering long-term success. Giving something worthwhile in exchange for something else is
what value creation is all about. This definition includes both the expenses and the benefits.
The process of developing products or services that customers perceive to be worth more than
the sum of their separate parts is known as value creation in business. Value creation is a crucial
driver of profitability and growth, and organizations must seek to generate more value for their
consumers on a continuous basis if they want to stay ahead of the competition. There are
numerous strategies for creating value, but some of the most prevalent are enhancing product
quality, raising customer service levels, producing new and creative products or services, and
delivering competitive pricing.
Creating value is not always easy, but it is necessary for organizations to succeed in today's
economy. Businesses may generate lasting value by understanding what their customers want
and need and then trying to surpass their expectations. Furthermore, value creation is
important in enticing clients. Consumers have various options in today's competitive business
environment. As a result, in order to stand out from the crowd, businesses must provide
something of value. Entrepreneurs can differentiate themselves and establish a devoted
consumer base by offering unique products or services that solve issues or improve people's
lives.
When resources are turned into something of worth or utility, value is created. The act of
creating value is the driving force behind economic activity and the primary purpose of
enterprises. There are numerous ways to generate value, but the majority of organizations
strive to do so by providing goods or services that people want or require. Value can be created
in a variety of ways, but most firms strive to provide items or services that people want or need.
Production is the process of transforming raw materials into a finished product that someone is
willing to pay for. Production is the process of using inputs (labor, land, capital, and
entrepreneurial talent) to create an output (the final good or service). Lastly, creating value is
essential for long-term growth and sustainability. Businesses that prioritize producing value for
their consumers have higher customer satisfaction and brand loyalty. This results in repeat
purchases and favorable word-of-mouth recommendations, all of which contribute to revenue
 My goal is to build a business that benefits society. Entrepreneurs are heroes because they
produce value. Making society's processes easy is crucial. Many company owners and
entrepreneurs want to have a beneficial influence on society through their goods, services, or
charitable activities. It requires commitment, focus, and a firm commitment to moral and
ethical corporate conduct. You may work toward developing a company that provides value
and benefits society by matching your aims with its values and requirements. One day, I aspire
to start my own business with an excellent idea that I have acquired from this experience.
Think about how many people are so proud of you for developing things that have improved
their lives. That fills me with self-confidence. I firmly believe that we can improve the lives of
workers, consumers, and society at large by comprehending how business affects society,
making wise decisions, and continually assessing our performance.
All businesses are value ladders since they all deliver value to the consumer, who is a member
of society, even the damaging ones. One would rather point out that we should strive to
establish companies that add value to our society. Businesses exist to make money and give
returns to their investors, but it is also crucial for businesses to add value to society. Businesses
that are only concerned with increasing shareholder income frequently fail to fulfill their social
obligations. These businesses could abuse resources, engage in unethical business practices, or
disrespect the welfare of their workers and communities. The long-term effects of this strategy
may include reputational harm and a decline in consumer confidence. Aspiring to run a
company that adds value to society, on the other hand, indicates a dedication to sustainable
growth and social well-being. Businesses may promote strong connections and create long-
term success by taking the needs and goals of different stakeholders, including customers,
workers, suppliers, and local communities, into account.
Furthermore, a company's brand reputation improves, and it draws in customers who are
socially conscious when it makes a beneficial contribution to society by solving social concerns
or encouraging environmental sustainability. In the end, they can accomplish sustained growth
in this way, as well as meaningfully advance society. It is important to recognize that
corporations must satisfy their commitments to shareholders while also fulfilling their inherent
social duty. Finding a balance between these two goals will enable long-term success in the
dynamic business environment of today.