Starting a Business - Assignment Example

Working on a new business venture is always an exiting career opportunity. In this scenario a colleague and I want to start a new business in the same industry as my current job. There are different alternatives and options that I most consider which have various ethical implications. For instance we may want to recruit some of our current co-workers to become a part of the new business venture. An advantage of recruiting employees from your place of work is that that you already know them, they are already trained, and these people can formed part of an organizational culture you are accustomed too.

Even though recruiting from your old co-workers in most cases might not be illegal, it is definitely unethical. Companies do not expect for one of the employees to be disloyal and form the competition with some of your own workers. The employees of the firm are entitled to quit and take another job. A second stakeholder group that I may want to steal away from my current employer is the customers. I do not consider stealing customers away unethical because once I start my business I compete against everyone in the industry for market share.

A third potential alternative is to lure my boss into the business. This can be achieved by forming a partnership or strategic alliance. For example both companies can join forces in their purchasing of materials in order to achieve economies of scale. If I want to join forces with my former employer I cannot play dirty and steal employees away.