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