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BUS 1177 Entrepreneurship Assignment - Lethbridge College, Canada

Task - Make an assignment on the book "The seven habits of highly effective people" by Stephen R. Covey and write critical commentary on the book for Entrepreneurship subject.

Answer - Reflection on seven habits of highly effective people

Preface

Stephen R Covey's book entitled seven habits of highly effective people provided a good insight into commonly observed successful habits of highly effective people. Whatever may be the chosen business line, in common the successful people are demonstrated to have a few common habits, which distinguish them from the rest of the people. Successful people are mainly goal-oriented. Pro-activeness, goal orientation (looking at end picture), prioritizing (first things first), honesty, people-orientation, Interpersonal relations (win-win approach), empathetic communication, principle-centered leadership, honing all the four dimensions physical, mental, spiritual and social dimensions. Business and Entrepreneurship is a profession that is highly reliant on the personality characteristics and capabilities of the individual. Each of these seven habits does positively contributes to making the profession of entrepreneur highly successful. In this regard, the following part of the report is presented to discuss and reflect on the relevance of seven habits of the individual and is presented to reflect on the Mooney case. There is a detailed discussion on the seven habits of effective people; the reflection of the same is extended to correlate them with Kevin Mooney's personality characteristics and habits in life. Appreciating the correlation, a critique is also provided to indicate aspects that can be equally important to an entrepreneur (Burns, 2016) to attain success in life.

Overview of Stephen R Covey insights on effective people characteristics:

Stephen R Covey indicated that there is power and outcome achieving capacity in the habits of effective people this is mainly due to the change in their thinking patterns and ideologies. The underlying vision is that the change has to come from within, if someone likes to change their environment, fist they need to change themselves. The change will come from the change in the perceptions. Effective people perceive things differently and they do act in a different manner and these changes will create an overall change in the outcomes. Stephen R Covey emphasized the same in terms of the seven habits of these effective people. Personality and ethics makes up the necessary integrity of the effective people in their day to day activities. The success of effective people is characterized by primary and secondary greatness of the people, more significantly it is all about their skills of communication, training and social recognization. Effective people do have interrelated greatness from these two aspects. Covey alleged that it is habit of effective people to think with a shift in paradigm. Paradigms are powerful since they do create the lens through which people look at outside. A shift in paradigm is a total change in interaction and involvements. Perception of problem is a key factor that defines the shape of a problem. Effective people do perceive a problem differently than others. The seven habits of effective people are essentially summarized as principle-centred, character-based, inside-out approach characterized, personal and interpersonal effectiveness. The first habit is proactiveness, which is based on the fact that the level of person consciousness and abilities can be elevated by constant and conscious endeavours. Proactivity is more than taking up initiative; it includes positive reactivity too as a habit by effective people. The second habit is looking at future with a vision for the end. Looking at end will make actions differently and effectiveness of things will be much different. The third habit is Prioritizing which is quite effective in personal management. People when priotize their works, they can able visualize results more effectively. Looking for prioritizing the task from personal, professional and social interests with a clear vision towards future makes up important habit of effective people. The fourth habit is to act with a vision for win-win type of proceeding. It is essential for an effective interpersonal leadership. Win-win strategies yields good relations and from relations one can attain agreements and this inturn paves way for winnings. The fifth habit is empathetic communication, this makes people first get understood and then will let others also understand. Synergy in thinking and actions is the sixth habit of effective people. Consistent self renewal of four dimensions, physical, mental, spiritual and social is the seventh habit of effective people that makes them unique and socially recognized (Coovey,2004).

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Correlation of Kevin Mooney characteristics with seven habits:

Habits of Kevin Mooney correlated with seven habits of highly effective people. Kevin Mooney is an effective personality. He started his career independently and without any support from his family members or anyone else. His successful venture of Rapid radio repair at reasonable rates became successful only because of honest and committed service provided by Kevin and his team. The venture is characterized by action orientation, people-orientation, and honesty as core principles of its operations. One important aspect of the highly effective people, to be goal focussed is seen in principle in Mooney in all his attempts to establish himself in the profession in the early years. His mindset is always focussed on business and financial operations. Cornell University, his focus was always on his position as a chairman of student financial commission where he is interested in spending about $130,000 budget among the student organizations and for campus activities. This indicates the strong will and commitment to the set goals of business orientation. Since Mooney decided to take up the business of his own and want to establish himself as an independent business professional or entrepreneur, he focussed his approach in life accordingly right from his college days itself. He is not deterred by the engineering environment on the campus as well as lack of business orientable opportunities on the campus, which did not stop him from pursuing his dream. He has taken the opportunity of chairman of student organizations and started executing and honing his skills towards goal and action-oriented initiatives. In later times, when he got admission into Stanford business school, he had a clear vision of what need to be done first. He did not wait to enter the school after getting some work experience, rather, he wanted to learn from other's experiences, this way he wanted to reduce the time spent on education as well demonstrated his aptitude and inclinations of prioritizing tasks. Kevin Mooney's approach is high results-driven and action-oriented as well. The softcorp Inc when struggling to include the new IRS depreciation regulations there is no any assistance offered by PWH for almost three years but without solution, Mooney demonstrated his action-oriented competency by rectifying the problems in as less as three months of duration and this has impressed the two founders of Softcorp, Hegarty, and Wilson and later driven them to offer the position of director for international marketing to Kevin Mooney.

At the time of offer, still there is no clarity about the type of resources going to be offered for the marketing strategy as well there is no indication of the type of stock shares or the equity offerable, only offer is hand is about 20% hike in the payment which Mooney is getting right now in PWH. In spite of the visible fact that Mooney has no previous experience in international marketing as well as the fact that he does not have any proven success in the marketing of the products on the international domain, he was given an offer entirely based on his competency and education. Well, it is an indication of the recognition of the abilities and characteristics of Mooney. Mooney can be said as an effective person by just this illustration, he was given the apex position in the international marketing of Softcorp, even without consideration to the fact that he did not have any single year of proven experience in the domain. In any case, the habits of Mooney are well in line with the habits of effective people (Coovey, 2004).

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Analysis and Reflection on habits of Mooney:

Mooney is highly proactive (Morris, 2015) in his entire endeavor; he is always having the vision towards his expectations and is never hampered by any obstacles and difficult situations arisen in the course of the journey. A good example of his graduation study time. He neither got distracted by engineering education nor rather made his times in the university as a positive contributor for his future endeavors. He managed to lead the position of the chairman of the student organizations and managed the large budgets for student activities. All this was done without any previous experience and mainly driven by his passion for business in the future. Even his characteristics of taking the challenges and initiatives can be seen in his young age, Mooney took the opportunities of non-cooperative environment, to cultivate self-sustenance and managed to get his funding for his projects through rapid radio repair at reasonable rates.

Mooney has a habit of looking at the big picture and the end picture. When he was studying in the Stanford for business PG, he had a clear vision; he did not wait like his fellow young admittees to get practical work experience for several years, he has a clear vision of what he is expecting and just joined the course to learn from experiences of other. This is another habit of effective people, the vision of the end picture and goal orientation. Mooney has a habit of prioritization of the things, he always stands first to prioritize things as per their significance in his long term ambition and goal outreach process. When it comes to preference and prioritizing the opportunities in PWH with a promised future career he has a clear vision for the same. He sacrificed the career lying ahead in PWH for his passion to lead an independent and more satisfying business endeavor in Softcore software Inc. Mooney demonstrated highly effective relations on work and in personal life, he is highly considerate towards relationships, he married his fellow from schooling, he managed good relations with the founders of softcorp in a profession as well in person. Mooney exhibited principle-centered leadership for his endeavor for decisions and actions. He had shown empathetic communication with his mentor in PWH and also has exhibited high levels of interpersonal relations throughout his career. There are no conflicts or differences in opinions seen in his career lines. There are several habits of effective people seen correlated with the habits of Kevin Mooney. These might be some characteristics that provided him distinct recognition and distinction as an effective person.

Mooney has a vision towards his career, what he wants to perceive himself and his outlooks are characterized by proactiveness. He did not hesitate any time to think radically to differ from his existing line of rewarding career in PWH for his passion. The courage is obtained from his attitude to be independent and from his courage to be different for his belief.

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Critical commentary, concept reflection and critique on the book

The book is a critical commentary, concept, and critique on the seven habits of the effective people, well all the seven habits indicated in the book do have impassive and positive benefits to the person. There is scope to make the person distinctly identified and can be provided with a recognition. However, still, I believe though the habits indicate the framework that makes the person different and distinctly identified, they are not just sufficient conditions to attain effectiveness. There is much to do with professional competency, abilities, knowledge (Staniewski, 2016), and capabilities as well. There are several effective people in PWH however Mooney is the only person who possessed the capability to meet the demands of the Softcorp, which he managed to deliver effectively. He did something, which is not achieved by PWH for almost three years. This competency, as well as the education, made him nearer to the founders of SoftCorp. It is indicated that the habits define the attitudes and right attitudes will add distinction to the person, however the real success to the person no doubt can be attained by capabilities and competencies. To some extent capabilities and competency can be earned by stringent hard work (Baum et al., 2014). This is an equally significant and necessary component like other attributes of character like goal orientation, principle-centered leadership, proactiveness and so forth. The real success for a professional like an entrepreneur can be attained by hard work based competency and capability achievement.

Nevertheless, all seven habits of Stephen R Covey will effectively contribute to augment the skills and capabilities of an entrepreneur. For competent people like Mooney, these habits make them effective and successful in life. As a whole, it is worth recalling the fact that there is no substitute for hard work and knowledge and entrepreneur should essentially possess these attributes in addition to the habits which can add value to his competency and make him successful in a profession. I believe even these characteristics are seen quite commonly with most of the effective people and it is worth adding them to the said seven habits.

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