1. Entrepreneurship and Ethics

2. Entrepreneurs Entrepreneurs Do things Think about doing them NOT

3. Characteristics of Entrepreneurs  Self-confidence  Multi-skills  Innovation  Results-orientation  Risk-taking  Total Commitment

4. What are Ethics? moral principles 1.A system of moral principles philosophyright and wrongmotives 2.The branch of philosophy dealing with right and wrong, and the morality of motives and ends. good and bad 3.The discipline of dealing with what is good and bad and with moral duty and obligation.

5. Key words in Ethics “Moral Principles” Clearly, these differ from person to person; wars have been started on the notion of moral principle “Philosophy” A Belief system or theory, and as such is open to variations. “Motives” Based on a specific situation, one person’s motives might differ from circumstance to circumstance “Right And Wrong” Anyone with an opinion can attest to the disparities between two or more people in this area! “Good and Bad” Again, these are words which any individual may describe differently according to his/her circumstances

6. Entrepreneurs and Ethics The social responsibility of business is to use its resources, and engage in activities designed to increase its profits, so long as it engages in open and free competition without deception or fraud Within business, insider trading, bribery, faulty accounting and fraud, are common. Small business owners have a difficult time with ethics, because of the simple seduction of easy money.

7. Reactive Individual Internal focus Rhetoric Dependence Status Quo Ethical Dilemmas Short-term Long-term Proactive Organisation External focus Reality Empowerment Change

8. Practising Ethical Behaviour 1.Examine the intention – what do you really want to do? 2.Look for examples of ‘ethics in action’ and highlight them 3.Behave consistently all the time 4.Provide parameters and examples 5.Install ways that people can discuss and understand ethics 6.Make sure ethics is integrated in every aspect of your operations 7.Establish ethics in individual and departmental goals 8.Develop safe feedback mechanisms 9. Seek independent observations on your ethics