Entrepreneurship

Mr. Bernstein

Social and Ethical Responsibility, pp 514-525January 13, 2015

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EntrepreneurshipMr. Bernstein

Social ResponsibilityDuty to contribute to societyObligation to Stakeholders

CustomersEmployeesInvestorsCommunityCompetitors

Is the business of business …business?

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EntrepreneurshipMr. Bernstein

Business EthicsMore than just following laws and regulationsMorally justifiable behaviorCan vary from manager to manager, business to

business or country to countryWritten Code of Ethics – values and rules that

express the firm’s philosophy goalsWritten Code clarifies some dilemmas, but not all

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EntrepreneurshipMr. Bernstein

Special Ethics Problems for EntrepreneursConflict of interestDesperate measuresBribes

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EntrepreneurshipMr. Bernstein

A Famous Code of Ethics

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EntrepreneurshipMr. Bernstein

Kraft Foods 10-point Code of Ethics• Make food that is safe to eat• Market responsibly• Treat people fairly• Respect the free market• Compete fairly• Respect the environment• Deal honesty with the government• Keep honest books and records• Never trade on inside information• Give Kraft Foods your complete business loyaltyFrom The Houston Chronicle, http://smallbusiness.chron.com/examples-code-ethics-business-4885.html