Ethics Paper (Intrapreneurship) - Essay Example

Ethics and Business As per the chapter under consideration that is Chapter One in Making Innovations Work, the authors, nowhere appear to be visibly, directly and discernibly identifying ethics as a driving force in business innovation. In the context of innovation, the authors in the chapter under consideration have amply touched on varied precursors of innovation like leadership, business strategy and mentality, pragmatism, change management, networking and incentives. However, the authors have visibly failed to touch on the ethical dilemmas and problems associated with these aspects of business.

The authors have approached the issue of innovation in a format that seems to be mechanically systematic, without delving deeper into the problems that may arise while taking decisions that may seem to challenge the established ethics and morals. The authors have also failed to extend a set of viable and reasonable principles that an organization needs to hold sacrosanct, while opting for innovation and change. Innovation, by its very nature is a process that is bound to challenge the established ethics in a plethora of ways.

Ethics and Innovation Strategy There is no denying the fact that ethics should play a major role in the innovation strategy of a company or organization. Businesses constitute a part of the society, and hence must stick to ethical norms and values while pursuing innovation to maintain trustworthiness both within and in a larger social context (Oden, 1997, p. 4). Any business is a sub-system within a larger system called society. A viable business responds to this responsibility in a variety of ways like vying to protect the interests of the shareholders, by being transparent, by being sensitive to the expectations and aspirations of its employees, by being committed to enhancing efficiency, by being responsible towards environmental concerns, and the like.

Besides, business ethics play a pivotal role in the context of decisional freedom associated with any innovation strategy (Oden, 1997, p. 7). Hence, it is the business ethics that extend a viable framework for balancing the varied interests and values tagged to any innovation strategy. Rewriting the Rules of Innovation “The Rules of Innovation” presented in Chapter one could be rewritten to bring in an ethical dimension into the overall innovation strategy of a business: 1. Exert strong leadership on the innovation strategy and compliance with the agreed upon ethics and moral constraints within an organization. 2. Integrate innovation and ethical compliance as unexceptional constituents of the company’s business mentality. 3. Aligning the amount and type of innovation with a distinct regard for ethical conduct and behavior. 4. Well managing the natural tension that exists between creativity, profitability and ethical conduct 5.

Retaining a strong ethical sense of direction, while doing away with the superfluous routines and cultural norms. 6. Forging an innovation oriented network both within and without, based on the respect for the values and aspirations of all the stakeholders associated with this network. 7. Giving way to apt rewards and incentives to encourage innovation, without relying on the negative stimuli like fear, power politics and threats. Ethical Impact Inculcation of an ethical component within each of “