2021 Essay Competition Winner – 16-18

Take a look at one of the winning entries to the Immerse Education Essay Competition from the Business Management category.

Congratulations to all participants and in particular to those who won 100% scholarships!

by Kornelia K. Read Kornelias Scholarship Story Here.

What makes a good role model in business?

A role model can mean different things to different people however a widely accepted term is a person who someone admires and whose behaviour they
may imitate(1).
To be a good role model in business, one should be responsible, ethical, and possess good judgement. These admirable characteristics are a necessity in order to ensure that those under the influence of a person will emulate those qualities, instead of ones that could be viewed as harmful, such as selfishness or unreliability. Moreover, in business, adopting unethical practises and poor judgement can lead to dire consequences. Some repercussions can include legal issues, loss of your company or an inadequate reputation.

Being ethical is one of the most fundamental attributes of a role model, particularly in a business environment. Unethical business practices are anything that falls below minimum standards for business code of conduct (2) and some examples can include defamation, harmful habits,, false product claims and discrimination. The gender pay gap is one controversial case of unethical business practice; in 2020 it was reported that from 2019 to 2020, there was a mean wage gap of 6.5% and a median of 15.9% between men and women (3).
Difference in salaries is just one method of discrimination. Fortunately, in a further progressing society, prejudice is being viewed as what it is : unethical. It is crucial for a role model in business to be ethical as aspiring entrepreneurs may believe certain practices to be acceptable which produces a generation of corrupt business people.

Another quality of a successful role model is responsibility. To be responsible is to be accountable for one’s behaviour or action (4). Part of human nature is to make mistakes and although this may be inevitable, our actions subsequently are ultimately our decision. Whether we accept responsibility or place blame on other individuals can define our character to those around us. When one acknowledges their errors, it encourages those who associate with them to do the same and also makes adopting solutions uncomplicated. On the other hand, confessing to one faults can make one seem incompetent; however disclosing your short-comings not only assists you in learning from them, but also those who consider you a role model.

Having good judgement is an essential aspect of being an influential role model. A person’s reputation can rely heavily on the decisions that affect a business. Kay Whitmore (former CEO of Kodak) unfortunately lacked this attribute when he failed to adapt to an evolving reality. His poor judgement cost
him his position when he was eventually fired from his own company in 1993 (5). In contrast, Elon Musk shaped his career through a series of intelligent choices. One of his most prominent companies (Tesla), is believed to be defining a new era with its electric cars (6). They adapted to the world’s concern of
climate change and have created one of the most sustainable cars (7) which not only is environmentally friendly but also motivates customers to buy from them. The difference between whether one’s judgement is poor or not, can change your or your company’s reputation.

In summary, to be a good role model in business, one should possess qualities of responsibility, morality and be able to make decisions that help your company evolve. Only then can the next generation of entrepreneurs truly thrive.

Bibliography

1

Cambridge Dictionary, “Role model”. https://dictionary.cambridge.org/dictionary/english/role-model (Accessed 2021-05-28)

2

L. Holton, “The Ugly Truth About Unethical Business Practices [Updated]”, 17-05-20. https://myva360.com/blog/the-ugly-truth-about-unethical-business-practices

(Accessed 2021-06-03)

3

Gov.uk, “DIT gender pay gap report 2019 to 2020”, 15-12-20.

%20gender%20pay%20gap,hourly%20difference%20is%20%C2%A34.04 (Accessed 2021-06-03)

4

Lexico, “Responsible”. https://www.lexico.com/definition/Responsible (Accessed 2021-06-03)

5

business.com Member, “Leading By Bad Example: Famous Leaders You Want to be Nothing Like”, 09-02-16.

https://www.business.com/articles/famous-leaders-you-want-to-be-nothing-like/  (Accessed  2021-06-12)

6

E . Taylor, N. Shirouzu, J. White, “How Tesla defined a new era for the global auto industry”, 22-07-20.

https://www.reuters.com/article/us-autos-tesla-newera-insight-idUSKCN24N0 (Accessed 2021-06-12)

7

M. Lewis, “EGEB: Tesla (surprise!) is the most eco-friendly car brand – study”, 13-12-19. https://electrek.co/2019/12/13/egeb-tesla-most-eco-friendly-car-brand-european-green-deal/ (Accessed 2021-06-12)

Why Apply To The Immerse Education Essay Competition? 

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The Immerse Education essay competition allows you the chance to submit an essay for the chance to be awarded a scholarship to the award-winning Cambridge summer school. 

How To Apply To The Immerse Education Essay Competition? 

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If you’re aged 13-18 and you’re interested in applying to the Immerse Education essay competition then please visit our essay competition page for more details.