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Integrity and Ethics

Integrity and Ethics. Integrity and Entrepreneurship. What is integrity? What one believes to be right and proper Values such as honesty, reliability and fairness. 2. Integrity and Entrepreneurship. Doing the right thing Ethical issues involve questions of right and wrong,

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Integrity and Ethics

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  1. Integrity and Ethics

  2. Integrity and Entrepreneurship • What is integrity? • What one believes to be right and proper • Values such as honesty, reliability and fairness 2

  3. Integrity and Entrepreneurship • Doing the right thing • Ethical issues involve questions of right and wrong, • Self-interest versus the needs of others • It may not pay to be ethical, at least in the short run??? 3

  4. Difficult Ethical Issues Facing the Entrepreneur /Small Business Owner • Relationships with customers, clients, and competitors (relationships with outside parties in the marketplace) • Human Resource decisions (relating to employment and promotion) • Employee obligations to employer (responsibilities and actions that in some way conflict with the best interests of the employer) • Management processes and relationships (superior-subordinate) 4

  5. Difficult Ethical Issues Facing the Entrepreneur /Small Business Owner • Governmental obligations and relationships (compliance with governmental requirements and reporting to government agencies) • Relationships with suppliers (practices and deceptions that tend to defraud suppliers) • Environmental and social responsibilities (business obligations to the environment and society) 5

  6. A Framework for Integrity in Entrepreneurship • Promoting the Owners’ Interest • Respecting Customers • Valuing Employees • Social Responsibility • Government Laws and Regulations 7

  7. The Challenges and Benefits of Acting Ethically • The Vulnerability of Small Companies • Many small firms are vulnerable to temptation because of marginality. • Bribery may be rationalized as an effort to create a level playing field. • Responses to vignettes compare the ethics of entrepreneurs and others. • Entrepreneurs were less moral on some issues but more moral on others. 8

  8. The Challenges and Benefits of Acting Ethically • The Vulnerability of Small…continuation • Ethical issues abound in the Internet world. • Using personal information—the privacy issue • Respecting intellectual property rights • Is it okay to monitor employees’ email? 9

  9. The Challenges and Benefits of Acting Ethically • The Integrity Edge • Integrity is crucial to small business success. • Firms perform better when they focus in the needs of all stakeholders • Greatest benefit of integrity is the trust it generates. 10

  10. The Challenges and Benefits of Acting Ethically • International Issues of Integrity • Some countries face higher levels of unethical behavior than others. • Determining what constitutes ethical behavior is more difficult across different cultures. 11

  11. The Challenges and Benefits of Acting Ethically • International Issues of Integrity . . . continuation • Ethical relativism is troublesome. • *Ethical imperialism—impose US standards on other societies 12

  12. Building a Business with Integrity 1. A Strong Foundation *The personal Integrity of the founder or owner is key to a firm’s ethical performance 2. Leading with integrity in our actions *The underlying values that govern the integrity of business practices are often based on religious foundations or personal values. 3. A Supportive Organizational Culture 4. An Ethical Decision-Making Process 13

  13. Class Activities(Group analysis and discussions of ethical dilemma situations) 1. Give an example of an unethical business practice that you have personally encountered. 2. Based on your experience as an employee, customer, or observer of some particular small business, how would you rate its ethical performance? On what evidence or clues do you base your opinion? 3. What are some of the advantages of conducting business with integrity? Some people say they have no responsibility beyond maximizing the value of the firm in financial terms-can this position be defended? If so, how? 4. Develop a mission and values statements for an entrepreneurial venture business that your group selects. 5. Develop a Code of Business Conduct for Western Instructors at King Saud University 14

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