StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Ethical duties as an Entrepreneur (Is your good harm to others) - PowerPoint Presentation Example

Comments (0) Cite this document
Summary
If one takes a close look at the civilization which was formed by the humans, one can not help noticing that there are many aspects that differ it from the groups which are formed by the rest of the living organisms. While it is clear that such abilities as generating verbal…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98% of users find it useful
Ethical duties as an Entrepreneur (Is your good harm to others)
Read TextPreview

Extract of sample "Ethical duties as an Entrepreneur (Is your good harm to others)"

Ethical duties as an Entrepreneur (Is your good harm to others Christopher Martin Business Ethics Ms. Shelly Smith 11-18-14 Introduction If one takes a close look at the civilization which was formed by the humans, one can not help noticing that there are many aspects that differ it from the groups which are formed by the rest of the living organisms. While it is clear that such abilities as generating verbal interaction are peculiar to our kind, one would not make a mistake pointing out that the notion of Ethics is not found anywhere beyond the boundaries of the human society. That is why, it should be noted that the idea of Ethics is what truly make us different. In addition to that, it can be found in virtually every area of human activity. Entrepreneurship is not an exception. This paper will analyze the ethical duties of entrepreneur, arguing that one’s good does not necessarily harm others.
Discussion
To begin with, one might suggest that one of the most important duties of an entrepreneur which involved Ethics focuses on the necessity to think about the affect that one’s activity has on the stakeholders. Indeed, it would not be an exaggeration to suggest that one can hardly find an activity where the number of stakeholders is reduced to a minimum and entrepreneurship is surely not one of them (McFarlane, 2013, 51). In other words, it is an imperative for a person who runs a business to think about the impact that it can have on all the parties which are involved directly and indirectly. A helpful way to do so would be to create a map of all the people affected and determine the relationship between them and the business activities (Weiss, 2014, 13). One should point out that considering the impact on the stakeholders might be regarded as a characteristic feature of the modern kind of business. Indeed, in the previous times economic world in general as well as entrepreneurs in particular was primarily concerned with the profitability of the enterprise, the security of the source of income and possible ways to maximize the return of investment. However, contrary to that, at the modern times people acknowledge that they might have a negative impact on the stakeholders and are encouraged to refrain for it. In other words, a good entrepreneur will be able to set up one’s business in such a way that would not harm anyone.
The next important duty which should be analyzed in great detail is connected with the necessity to implement ethical decision making process. One of the most significant aspects that are crucial for understanding of this duty is the difference between morals and ethics. Thus, the former is largely considered to be a set of personal views on what is right and what is wrong; while the latter is a set of guidelines which are generally accepted by the society. In other words, a person is not required to develop some moral qualities, but it is an imperative for all the subjects that operate within the social framework to adhere to the conventional rules and regulations (Ferrell & Fraedrich, 2005, 5). This also means that there might be situations when morals and ethics might not coincide; under such circumstances, a good entrepreneur is likely to choose the latter. This holds several provisions that must be understood by a person if one wants to be successful in the business world: sometimes different steps that might not be profitable or quite the opposite to profitable are required. For example, according to ethical decision-making process closing a factory, which does not meet internal quality standards or utilizes unethical practices is not an option, it is a required action (Guy, 1990, 7). From the point of an entrepreneur, closing such factory is closely associated with financial losses. This may be true; however, in the end the positive aspects of closing it will overweigh the negative consequences in the short run.
Considering the issue of involvement of Ethics in entrepreneurship, one can not omit to the concept of competition. Indeed, the latter is largely regarded as an irreplaceable part of performing an economic activity. One would not make a mistake suggesting that the opinion on the manner in which competition should be performed has been changed over the centuries. Originally, this activity was heavily influenced by the desire of an entrepreneur to exclude others for the market in order to enjoy all the attention of the potential customers (Knight, 1997, 22). In spite of the fact that this very desire does not hold any negative implications, the people who developed it ended up causing a lot of harm to their competitors. In order not to follow this path of unethical behavior, a good entrepreneur should always keep in mind that competition is one of the driving forces of the economy in general. In other words, one should follow its rules and compete with the help of the conventional methods, not inventing some new way that would bring negative consequences in the end. This means that ethical competition usually involved respecting the competitors and implementing practicing which are designed to strengthen the system, not to break it. As a result, if a person is able to be rather successful while competing, this does not necessarily involve causing harm to business counterparts.
There is an additional aspect of ethical duties which greatly contributes to the development of the correct understanding of this area of entrepreneurship. At the present moment, economic world heavily relies on the advancements made by science. In other words, technology is inevitably involved in business. In spite of the fact that the degree of involvement might vary from the slightest one (merely having personal computers in the office) to the ultimate one (enterprise is performed in the virtual environment entirely), a good entrepreneur should always think about the impact that technology is able to have on the environment (Harris, Sapienza & Bowie, 2009, 408). At the present moment, a considerable number of companies pay close attention to the environmental impact that they have: they try to reduce the amount of paper which is being used in the offices, find environmental friendly substitutes for the materials that are known to have negative effect on nature. It is particularly important that an entrepreneur who is involved in any kind of economic activity carefully considers the impact that one has on environment and introduces appropriate changes into one’s activity as it is thought to be highly unethical to run a business that has a destructive influence on nature. All this leads to the understanding that an entrepreneur should carry out a thorough assessment of the technology which is at one’s disposal and make sure that there is none which is not environmentally friendly.
Finally, there is the last ethical aspect, which has a direct influence on the activity of an entrepreneur. The very definition of the latter suggests that a person will be devoting a considerable amount of one’s to towards this activity. As a result, the balance between private and professional life might be damaged. In spite of the fact that some might not consider this an ethical problem, but it surely affect the performance of an entrepreneur and, therefore, should be taken into account. This means that it is an ethical duty of a person to make a clear distinction between two aspects of one’s life so that none of them would suffer from interference from the other (“The Unavoidable Ethical Dilemmas That Entrepreneurs Face”, n.d.). All this leads to the necessity for an entrepreneur to set up firm boundaries and be able to follow them while acting as a private person or as a subject of economic activity. One would make no mistake arguing that this problem should be regarded as a relatively recent one as in the previous times people were not able to work from home as effectively as at the present moment. Indeed, the development of technology nearly destroyed the boundaries between the professional and the private life. However, an entrepreneur, enjoy a full control of the economic activity which is performed by him or her, should be able to restore the above mentioned balance since this is likely to have a positive impact on the performance of the enterprise.
Conclusion
Having examined all the points which were carefully examined in the paragraphs above, one might come to the following conclusions: there are several ethical duties which an entrepreneur is encouraged do fulfill as they ultimately lead to a situation when one’s good does not harm others. The ethical duties in question include aspects that belong to different areas of activity. Thus, they take into account all the stakeholders who are affected by the entrepreneurship; the duties also require the person to adhere to the process of ethical decision making as it is likely to bring benefits in the long; the participation in competition should also rely on ethical practice, just like the use of technology; finally, an entrepreneur should be able to maintain a perfect balance between the professional and personal life. Thus, the fulfillment of these duties might become the success of the entrepreneurship.
References
Ferrell, O., & Fraedrich, J. (2005). Business ethics: Ethical decision making and cases (6th ed.). Boston: Houghton Mifflin.
Guy, M. (1990). Ethical decision making in everyday work situations. New York: Quorum Books.
Harris, J., Sapienza, H., & Bowie, N. (2009). Ethics and Entrepreneurship. Journal of Business Venturing, 24(1), 407-418.
Knight, F. (1997). The ethics of competition and other essays. New York: Transaction.
McFarlane, D. (2013). The Importance of Business Ethics to Small Ventures. Entrepreneurship and Innovation Management Journal, 1(1), 50-59.
The Unavoidable Ethical Dilemmas That Entrepreneurs Face. (n.d.). Retrieved November 12, 2014, from http://www.scu.edu/ethics/practicing/focusareas/business/startup-dilemmas.html
Weiss, J. (2014). Business ethics: A stakeholder and issues management approach. New York: Berrett-Koehler. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Ethical duties as an Entrepreneur (Is your good harm to others) PowerPoint Presentation”, n.d.)
Ethical duties as an Entrepreneur (Is your good harm to others) PowerPoint Presentation. Retrieved from https://studentshare.org/social-science/1667209-ethical-duties-as-an-entrepreneur-is-your-good-harm-to-others
(Ethical Duties As an Entrepreneur (Is Your Good Harm to Others) PowerPoint Presentation)
Ethical Duties As an Entrepreneur (Is Your Good Harm to Others) PowerPoint Presentation. https://studentshare.org/social-science/1667209-ethical-duties-as-an-entrepreneur-is-your-good-harm-to-others.
“Ethical Duties As an Entrepreneur (Is Your Good Harm to Others) PowerPoint Presentation”, n.d. https://studentshare.org/social-science/1667209-ethical-duties-as-an-entrepreneur-is-your-good-harm-to-others.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Ethical duties as an Entrepreneur (Is your good harm to others)

Good Looks and Charm Causes Harm

... from Iago that he lacks expertise in war. Iago lets vengeance to define his actions and he does not relent in fixing Cassio. Iago manipulates events and makes Othello believe that Cassio is having an affair with Desdemona, a plot that brings Cassio down (Keller 400). The fact that Casio possesses these traits makes it easy for the characters to fall into Iago’s deception. Thus, Casio’s good looks and charm result to harming not only him, but also other characters through Iago’s manipulations. Iago’s mission appears right from scene one whereby he confesses his hatred for the moor and Cassio (Jacobson 497). He does not hide his intentions for vengeance. When the moor leaves to Cyprus because of the waging war, he requests for accompaniment...
4 Pages(1000 words)Research Paper

Religion Does More Harm Than Good

...?Debate; "Religion does more harm than good" Opening ment Good evening ladies and gentlemen. My is Anna and I stand before you to support the motion that religion does more harm than good. I am therefore against the team that says religion has done more good in the society. In my arguments to affirm the motion, I will endeavor to explain and demonstrate to a large extent how marriage conflicts in religion have contributed to more harm than good in the society throughout the history of man. I will also introduce my colleagues in the affirmative team that includes Hamad, who will come to discuss the impact of religion on politics of today as he tries to prove the point that religion has indeed negatively affected the political situation...
4 Pages(1000 words)Essay

A Prosecutors Life: Duties and Ethical Constraints

...A Prosecutor's Life: Duties and Ethical Constraints A criminal prosecutor is vested with both special powers and special ethical constraints. Because of these special powers and ethical constraints, criminal prosecutors are the subject of much attention in the media and in scholarly discourse. This essay will examine the duties and the ethical problem-areas of the criminal prosecutor in the American criminal justice system. At the most general level, criminal prosecutors are responsible for prosecuting criminal offenses. These offenses range from minor infractions to major felony cases. On occasion, criminal prosecutors may also provide "legal counsel and advice on matters of civil law to various County departments" (Criminal...
4 Pages(1000 words)Essay

Religion Does More Harm than Good

...Religion does more harm than good – against the Notion There are a number of religions in the world and each one has its own set of followers. These followers look forward to finding out more regarding what their religion teaches them on a regular basis. Even though these religions are being governed by people who adhere to their norms and routines, onus always lies on the followers as a whole. If one deduces that these religions create more distinctions amongst the people, it would be a viewpoint that is completely in the wrong. What could in fact be suggested as an alternative is the belief that religious harmony is the force that makes the world stand together as a whole. Giving respect to the followers of a religion and believing...
4 Pages(1000 words)Essay

Entrepreneur

...Entrepreneur One of the challenges that the transcontinental railroad faced was the decision on the rout that the railroad would follow from East to West. The main challenge in the decision on the rout was whether the railroad was to follow the southern region or the northern region. There was controversy among the legislators because of political and economic rivalry that existed between the North and the South and legislators from each group wanted the railroad in their respective regions and not the other region. One of the potential ways of resolving the issue is through debate and voting or through decision of an independent commission. Similar examples exist in the society and include interests in political appointment to the federal...
1 Pages(250 words)Essay

Summarize and Analyze your Entrepreneur Interview

...Summarize and Analyze your Entrepreneur Interview Email: amrita mywardrobe.com Twiter: @ amrita_UX Website: www. AmritaAviyente.com. BACKGROUND Amrita Aviyente, the Founder/CEO of Date My Wardrobe is the entrepreneur selected for this paper. The entrepreneur completed its initial education from the Brad school. Before 2012 the entrepreneur worked as the software engineer in a financial services company for more than seven years. The name of that company was fidelity investments. In 2012 Amrita quitted her job and went back to the Brad school. During that period only she started thinking about her own business. At that point of time only the spark came into her mind. She has completed MS in information technology from Bentley University...
5 Pages(1250 words)Essay

Ethical duties as an Entrepreneur (Is your good harm to others)

...Ethical duties as an Entrepreneur (Is your good harm to others If one takes a close look at the civilization which was formed by the humans, one can not help noticing that there are many aspects that differ it from the groups which are formed by the rest of the living organisms. While it is clear that such abilities as generating verbal interaction are peculiar to our kind, one would not make a mistake pointing out that the notion of Ethics is not found anywhere beyond the boundaries of the human society. That is why, it should be noted that the idea of Ethics is what truly make us different. In addition to that, it can be found in virtually every area of human activity. Entrepreneurship is not an exception. This paper will analyze...
6 Pages(1500 words)Essay

Entrepreneur

... Social Responsibility and Social Entrepreneurship. Journal of Economics & Management Strategy Vol 16 No. 3, p. 683–717. Chen, S., Su, X. & Wu, S., 2012. Need for Achievement, Education, and Entrepreneurial Risk Taking Behavior. Social Behavior and Personality Vol 40 No.8, p.1311-1318. Hemingway, C. A., 2005. Personal Values as A Catalyst for Corporate Social Entrepreneurship. Journal of Business Ethics Vol 60 No.3, pp. 233-249. Henry, C., 2010. Doing Well by Doing Good? Opportunity recognition and the social enterprise partnership, University of London, London. Kessler, A., 2012. Eat People: And Other Unapologetic Rules for Game-Changing Entrepreneur. Portfolio Trade, New York. Korosec, R. L. & Berman, E. M., 2006. Municipal Support...
16 Pages(4000 words)Assignment

Why Selfies Do More Harm Than Good

...Why Selfies Do More Harm Than Good We humans make things. We create things. These are the things that define us. They also tend to highlight our society to just within a single nation but other nations too. This creation of people is defined as artifacts. Cultural artifacts are the trends or any fashion, etc created by a person concerning his traditional and cultural norms. Cultural artifacts are items that prove to provide information concerning the person`s society and background. Cultural artifacts are not only ancient. They are being made every day by ordinary people. Items which stand out are followed by other people. These items or trends are forward. In this way, the trend gains popularity. People of other cultures may follow...
4 Pages(1000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another PowerPoint Presentation on topic Ethical duties as an Entrepreneur (Is your good harm to others) for FREE!

Contact Us