Ethics, Social Responsibility, and the Start-up Venture Chapter 2 Ethics, Social Responsibility, and the Start-up Venture
Overview Vision and values Ethics Social responsibility Core values and success Copyright © Houghton Mifflin Company
Vision
Core Values Fundamental beliefs about what is important in business We create superior value for our customers Endure beyond the tenure of the founder Core values are not situational Copyright © Houghton Mifflin Company
Purpose and Mission Purpose: the reason you’re in business We’re in the business of education Mission: the major objective of the company To become the number 1 educator of real estate professionals in the U.S. Copyright © Houghton Mifflin Company
Ethics Moral code by which we live and conduct business Common ethical problems Conflicts of interest Survival tactics Peer pressure Pushing the legal limit Copyright © Houghton Mifflin Company
Developing a Code of Ethics Start with company self-examination to identify values Identify the behaviors that would allow the business to display these values Ask four questions Will the actions take result in the greatest good? Will the actions respect the rights of all parties? Are the actions just? Would I be proud if my actions were announced in the local newspaper? Copyright © Houghton Mifflin Company
Social Responsibility Benefits Improved financial performance Reduced operating costs Enhanced brand image and reputation Increased sales and customer loyalty Increased productivity and quality Increased ability to attract and retain employees Reduced regulatory oversight Copyright © Houghton Mifflin Company
Ways to Be Socially Responsible Donate your product or service Get other companies involved with you Offer your expertise free of charge Contribute to your community Copyright © Houghton Mifflin Company
Core Values and Success Success has purpose—it is a journey Success goes hand in hand with failure Success is the result of satisfaction with what you’re doing Success takes a lot of work Copyright © Houghton Mifflin Company
Take-Aways List what your students took away from the discussion here in real time Copyright © Houghton Mifflin Company