Macy Horton – Good Business Defined
By Macy Horton, Babson Undergraduate Student and Founder of Rock Dust Soil Solutions. This post is the last in a 4 part series building on the conversations at Good Business Fridays by providing a platform for Babson Undergraduate students to reflect on what “Good Business” means or has come to mean to them.
The more I interact with the business community, the clearer “good business” becomes. It is one thing to learn about good business practices in a book or from a power-point, but it is far more powerful to be a part of business interactions and to learn from current business leaders. It seems like doing good business is at the crux of a lot of the subjects in business school, such as brand management, organizational behavior and even operations. If a business is built on ethical and sincere practices, then these subjects organically grow and develop.
Since starting my own business this summer, I have been exposed to many definitions of “good business” across industries. It has also become much more important to actually evaluate and decide how I will define good business; what standards will I hold myself to? What feels good? Running a good business means to me that I am honest and conscious of all business interactions. It means that no matter how large my company may become, I will exceed my customers’ expectations and cater to their needs. It means that I am reliable and accountable in the eyes of the other businesses I work with as well as the people who work for me. It means that my value proposition is being delivered. I have seen that good business is apparent to customers, employees, and virtually everyone the company touches.
Just this past weekend at the Mass TLC Innovation Unconference, I took part in a dozen discussions with business people from start-ups to angel investors to corporate CEOs. Regardless of the formal discussion topic written on the easels in each room, one theme continued to seep into each conversation: good business practices. Although it may have been an event geared towards techies, people were still the major topic of conversation. It was a chance for people to share best practices in hiring people, managing people, motivating people, dealing with suppliers, dealing with retailers and finding your own balance. This further clarified the picture to me of what good business looks like; it also means evolving and growing with a constant awareness of impact on people, the environment, relationships and yourself.
Good business feels good, and is not created in a vacuum but rather with the input and collaboration of many.