Transcript Business Ethics

Business Ethics
Code of Ethics
Integrity & the Entrepreneur
The Law
A Code of Ethics
 The moral and professional duties that managers
and staff of the venture have to each other and to the
public

Used to build (and maintain) trust with customers,
suppliers, employees, investors, and potential
partners

Everyone who works in the venture must understand
and apply the code in their decision making
Integrity & the Entrepreneur
 Integrity: a steadfast adherence to a strict ethical
code
 “The Fish Rots from the Head”
 The entrepreneur serves as a role model for
employees
 The entrepreneur’s behaviour will dictate the
behaviour of the employees, and will determine
the reputation of the business
The Law
 The law represents basic beliefs the
community shares – but only the minimum
acceptable level of behaviour
 Even if something is allowable by law, it
may not necessarily be right
 A code of ethics imposes higher
standards of behaviour than laws do
 “An ethical person ought to do more than he’s
required to do and less then he’s allowed to do.”
- Michael Josephson
 “The most satisfying entrepreneurial venture is
one you’ve created yourself that allows you to
live the life you want.”
 Select the top three in terms of their importance in
running your business.

Maximize company profits, Create fulfilling jobs, Win
product-quality awards, Dominate markets

Satisfy customers, Promote new technologies,
Maintain long-term growth, Protect the environment

Be as ethical as possible, Develop employees,
Promote worker safety, Beat the competition