Wood compares business to life

Wood focused her remarks on the risks associated with entrepreneurship and a clarification of values and ownership of a small business.

She defined the concept of entrepreneurship, elaborated on the risk factors that come with starting a business, and the importance of producing something of value.

“Entrepreneurship is the process of taking all the risk to create, to build, to run, to manage a business that produces something that someone will pay for,” Wood said. “Entrepreneurship is a big risk, but you are taking that risk to produce something worthwhile.”

Wood also explained how successful businesses are constantly evaluating values that drive their operation. A business might lose sight of their own ideals, without constant critical assessment, a business might lose sight of their own ideals, she said.

“In this business world we have to walk the walk. What do we really value and how do we express that?” Wood said.

She compared running businesses to everyday life. Wood explained the concepts and standards that run businesses, like risk management and value clarification, are directly applicable to everyday life.

“How much do we do every day?” Wood said. “Business is life, life is business. Everyone runs a business, and that is their life. ”

Wood concluded with the importance of seeking pleasure rather than attempting to avoid pain, in business and in life.

“The truth is we work harder to avoid pain than we do to gain pleasure,” said Wood. “We need to work harder to collaborate, rather work harder to avoid conflict.”

The final Graves Lecture of the semester will be Dr. Janice Haynes, assistant professor in the Social and Communication Arts department, April 5.

Graves Lecture Series presentations take place in the King Library, Room 111 at 7 p.m. Attendance is free and a recording of the lecture may be viewed later at CSC's YouTube page.