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Ethical Responsibility

Entrepreneurs have an ethical responsibility to establish guidelines for ethical behavior through a moral code or code of ethics. Ethics help people and businesses make good decisions by basing actions on shared universal values and standards for moral conduct. There are practical benefits to operating ethically such as gaining customer trust, motivating employees, and avoiding legal issues. Entrepreneurs should create transparency and protect whistleblowers to deter unethical actions, as well as establish a written code of ethics to clarify values, prevent problems, and protect against unfairness claims.

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Varsha Pandey
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363 views6 pages

Ethical Responsibility

Entrepreneurs have an ethical responsibility to establish guidelines for ethical behavior through a moral code or code of ethics. Ethics help people and businesses make good decisions by basing actions on shared universal values and standards for moral conduct. There are practical benefits to operating ethically such as gaining customer trust, motivating employees, and avoiding legal issues. Entrepreneurs should create transparency and protect whistleblowers to deter unethical actions, as well as establish a written code of ethics to clarify values, prevent problems, and protect against unfairness claims.

Uploaded by

Varsha Pandey
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

ETHICAL RESPONSIBILITY

OF
ENTREPRENEURS

ETHICS

Ethics are guidelines for human behavior and form the


basis for a persons character and ethics are morale
code by which people live and conduct business.
Ethics help people decide how to act in situations
where moral issues are involved by setting standards
for moral behavior.
Universal values are values that are shared by all
cultures throughout history and Business ethics are
moral principles applied to business issues and
actions.
Entrepreneurs have considerable influence on their
companys business ethics

WHAT DOES IT MEAN TO BE ETHICAL


It is important for an entrepreneur to have clear
ethics policies governing ethical behavior,
because not everyone has the same standards
Understanding the Values
The benefits of understanding our value system are
make better decisions because we base them on
our values.
we are able to persuade others to agree with us
when we are confident about our values.
we usually do not regret decisions we make based
on our values.

WHY PRACTICE BUSINESS ETHICS?

Three practical reasons why we should


practice business ethics:
Customers are more confident when
buying goods and services from an
ethical company.
An ethical workplace motivates
employees.
Ethical behavior also prevents legal
problems

ETHICAL RESPONSIBILITY OF ENTREPRENEURS


1)Establishing an Ethical Workplace
To deter unethical behavior, companies try to create
transparency, or openness and accountability
in business decisions and actions.
To enhance transparency, companies today are
using social media, which are interactive electronic
forms of communication such as blogs and message
boards
A whistle-blower is a term for someone who reports
illegal or unethical conduct to superiors or to the
public

2)WRITING A CODE OF ETHICS

Writing a code of ethics forces us to


clarify our own values and principles.
Having a code will also help, prevent
and resolve ethical problems.
A written code provides some
protection against claims of
unfairness

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