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16 Cards in this Set
- Front
- Back
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Ethics |
includes the decisions, choices, and behaviors that people believe to be worthwhile and important in their lives. |
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True |
t/f Effective action helps resist self-centered approaches, defines the importance of stakeholders entrepreneurial process, and emphasizes the social nature of the person's relationship with others. |
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Ethics and moral principles |
must underpin all the entrepreneur's actions, whether in communication, taking risks, dealing with competition and customers, and in his interactions with family, friends, employees, business associates, and investors. |
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Technical competence |
The ethical entrepreneur knows what his business is all about and meets the required standards set by the industry. |
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Search for new and improved ways of work. |
The ethical entrepreneur constantly seeks new and better ways to improve his business process. |
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Complete responsibility |
The ethical entrepreneur accepts and practices full responsibility over everything that goes on in the business; he does not point his fingers at others or at circumstances to blame for negative incidents and failure. |
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Respect for the needs of those around him. |
The entrepreneur makes sure that investors, suppliers, business associates stakeholders receive what is due them. |
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Fair pricing |
This is the touchstone of Entrepreneurship. The ethical entrepreneur always establishes revenue forecasts that are realistic based on fair pricing. |
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Rewards for good action. |
The ethical entrepreneur encourages his employees to do good by giving both intrinsic and extrinsic rewards. |
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Correction for those doing wrong |
The ethical entrepreneur follows a set of disciplinary actions and sanctions that are known to his employees and which are calibrated according to the degree of the wrongdoing. |
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Sound financial management |
The ethical entrepreneur manages finances effectively to allow for stable employment for everyone in the business even during times of crisis or temporary slowdown. |
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Efficient and rigorous business monitoring and reporting. |
The ethical entrepreneur is open and honest. He develops a sound and rigorous financial monitoring and reporting system that provides full and accurate information leading to realistic forecasts. |
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Sharing financial success |
The ethical entrepreneur shares the company's financial success with his employees, partners, suppliers and others who helped create the business. |
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Social responsibility |
The ethical entrepreneur gives back to the community by contributing to its welfare. |
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Environmental awareness |
The ethical entrepreneur makes sure that the environment is not degraded or further destroyed by his negligence and irresponsibility. |
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Setting ethical standards |
is the first step in creating an ethical organization. |
