Business Ethics Code of Ethics Integrity & the Entrepreneur The Law

A Code of Ethics  A written statement that defines the moral and professional duties that the managers and staff of the venture have to each other and to the public Decisions based on a code of ethics build 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.”