Final answer:
Option c, 'It reflects the entrepreneur’s values by identifying profit,' is not a way that a personal mission statement helps an entrepreneur. A personal mission statement provides guidance based on values, ethics, and provided direction, not just monetary goals.
Step-by-step explanation:
Among the options provided, it's option c, It reflects the entrepreneur’s values by identifying profit, which is not a way that a personal mission statement typically helps an entrepreneur. While profits are an important aspect of running a successful business, a personal mission statement is more focused on guiding the entrepreneur's decisions and actions according to their values and visions. It is meant to provide a sense of purpose and direction rather than specifying monetary objectives. Such a statement can help an entrepreneur focus on avenues of interest they wish to explore (option a), serve as an ethical and moral compass (option b), and keep them on their chosen path (option d).
A personal mission statement is an intrinsic part of an entrepreneur's strategic planning and provides clarity on what the business stands for and where it aims to go. Although a business indeed aims to be profitable, equating an entrepreneur's value system solely with profit identification is a narrow perspective and does not encompass the broader role of a mission statement.
Arguments for egoism as a means to the common good suggest that entrepreneurs acting in their self-interest can inadvertently promote the welfare of the community, as suggested by Adam Smith. However, this concept is intertwined with ethical and economic debates around whether individual interests necessarily lead to collective benefits.