In terms of essay structure, with only 500 words, keep it simple. A user-friendly, effective approach is to narrate the story , starting with the situation that prompted the feedback or with the feedback itself. Include not just what happened and what you did, but what you felt and thought at key moments. IMPORTANT: in discussing how you responded, do NOT just say you DID respond and the situation improved; DO present actions you took in response and the outcome. If your story is from further back in your career, also you might include a phrase or sentence (with example) about how it has resonated since and remained vital to your perspective/approach.
I've known many entrepreneurs in my life, and with only a few exceptions most did not create their business primarily to maximize profits. Of course they wanted to make money, but profit was just one of the reasons they started their business. It may be that they were unable to work for anybody else, have strong authority issues, and therefore need to be their own boss. Or they need to be in charge of their own enterprise because that is how they get their sense of self-worth, value, and self-esteem. It could be that they have something to prove to their parents, siblings, or their friends and creating a successful business will exorcise unconscious childhood demons. It could be that they are very creative individuals who have ideas that they want to see tested in reality to see whether or not they work. It could be that they are idealists and want to make the world a better place, and their primary motivation for creating their business is to improve the world. It could be that the entrepreneurs create their business for the sheer fun of it. There are many, many reasons why people create businesses, and while I cannot deny that there are certain entrepreneurs who create their business primarily to maximize profits, I would say that in my life experience they are definitely a minority.
“Maker & Son” was established in the sixties. Emphasizing technologies and successfully selling systems for decades, its leader felt he didn’t need to focus on service. When customer concerns shifted, “Seller & Son” did its research, “read the market” and offered responsive service. “Maker & Son”, outwardly confident, did nothing to keep its market share. During the crisis it continued to have long response times, forcing clients to find solutions for themselves. “Seller & Son” was always willing to help without looking for an immediate profit, welcoming clients’ problems and providing immediate solutions. Those customers that still had the resources to buy during the crisis voted, with their wallets, for the company providing service.