The ethical entrepreneur ought to seek out favourable opportunities to make his or her ethical commitment bona fide. Introduce the concept of ecopreneurship 4. Sensory Analysis for the Chocolate Industry, Teaching Entrepreneurs through Experiential Learning, An Asia-Pacific approach to teaching sustainability entrepreneurship. Vanaprastha: The third stage of life as conceived in the Indian scheme of life, a phase of gradual withdrawal from active life. 3.4: Key Terms. Dharma: That which holds together all existence, ones role in life. Those who took the survey reported the least desirable form to be autocratic leadership and it was least reported in the survey. Social responsibility breaks this simple rule. Maintaining Ethical Standards. Pujya: An honorific for a venerated one, used for both genders. Click here to review the details. with a desire to find Always keep your objectives clear in front of you and visible for all to see and acknowledge. Everyone feels better about themselves and the butterfly effect happens magically as everyone freely and satisfyingly chose to act ethically in their dealings with others. Related:What is social entrepreneurship and top successful social entrepreneurship example. Garg, R., & Yadav, S. (2019). Sound Entrepreneurial ethics helps to develop relationships built on mutual trust and respect. Thus, his main duty is not to produce goods and services but improve our society. El emprendimiento como si el planeta importara / Entrepreneurship as if the p Cmo formar tu proprio Dream Team emprendedor? Institution of rewards and punishments concerning ethical behavior, 3. Cannibals with forks: The triple bottom line of 21st century business. It should be built keeping the people and surroundings in mind. or cannot be addressed by This aids in team building and strengthening interpersonal relationships. The ethical behavior required of entrepreneurs is determined by the following: Ethics must begin at the top of an organization it is a leadership issue and a chief executive must set an example. Chapter 4 Social and ethical entrepreneurship. 9. Your clients are your key stakeholders and it should be quite obvious as to how dependent your business is on its customers. Michael Laverty and Chris Littel et al. Copyright 2018 Desi Entrepreneurs Contact : Entrepreneur Ethics and Importance of Ethics in Key Areas of Business. What is social entrepreneurship and top successful social entrepreneurship example, Inspirational Steve Jobs quotes for entrepreneurs, Top most powerful inspirational Larry page quotes, Powerful Quotes of Entrepreneurs That Will Motivate Your Entrepreneurial Pursuits, Importance of Ethics in Key Areas of Business, Warren Buffett Quotes on Motivational and Investment Infographics, 5 Emerging Industries with Massive Potential, Techkriti, Asias largest technical and entrepreneurial festival organized by IIT Kanpur, Gift for your girlfriend gift for girlfriend on valentine, 35 Inspirational Ratan Tata Quotes Ratan Tata Motivational Quotes, Best 80 Business Dialogues From Hindi Movies, Salman Khan Vs Salman Khan and Their Net Worth, New Year wishes for entrepreneurs, startups and business owner. Ethics Ethics - the moral values and behavioral standards business people draw on as they make decisions and solve problems. Kidder (1995), states that if a situation is not a clear cut case of right vs. wrong then there are four ethical dilemma paradigms, truth vs. loyalty, short term vs. long term, justice vs. mercy, self vs. community. Creation of ethics review committees; 5. Journal of Leadership & Organizational Studies 9(4), 21-31, Copyright 2012 - 2017 | All Rights Reserved |. Ethics and Social Entrepreneurship: An Exploration. Amil Baba In Pakistan Karachi , Kale jadu kale ilm wale amil baba contact n Amil Baba In Pakistan Karachi | Amil Baba In Multan. From transactional to transcendental: Toward an integrated theory of leadership. May 2nd, 2018 - Social Responsibility and Ethics Social responsibility is an ethical theory in which individuals are accountable for fulfilling their civic duty the actions of an individual must benefit the whole of society Essay on Business Ethics and Social Responsibility March 23rd, 2015 - Keywords ethics and social responsibility essay COURSE GENERAL OBJECTIVES: This course aims to teach the approach entrepreneur use in identifying opportunity and creating new ventures, analytic skills that are needed to practice the approach and the background knowledge and managerial skills that are necessary for dealing with the recurring issues involved starting, growing and harnessing the value . The ethical entrepreneur thinks and talks about the ethical values that matter at any given opportunity. The ideal way to do this is to always strive to provide goods and services that are of the best quality and service, as good as you can make or get them, for your clients. Examine the concepts of the social entrepreneur and the social business 2. Activate your 30 day free trialto unlock unlimited reading. It, therefore, necessitates a great sense of self-discipline and humility which grows small businesses into successful empires. Social responsibility improves the public image of an organization and enhances the local economy. It appears that you have an ad-blocker running. Tap here to review the details. Ethics, Social Responsibility, and the Entrepreneur. Ethics, Social Responsibility, and the Entrepreneur. Kindness. It, therefore, necessitates a great sense of self-discipline and humility which grows, The Importance of Ethics in Key Areas of Business, Any entrepreneur who willfully and dishonestly engages in. An entrepreneur with an honest motive and good ethical sense will realize that doing and giving the best to clients every day is not only a good business decision, but a wise and ethical choice as well. Relations with Investors and the Financial Community Code of Ethics A Code of ethics. walls and The rewards of being an ethical start-up are many. Without this trust, businesses will not survive; investments will not be made. Ethics in Social Entrepreneurship. Autocratic leaders were described as dominant leaders who dont share power or decision-making and are indifferent to the values or opinions of others (Heinecke, et al., 2014, p.5). Not every situation can be anticipated, but the ethical entrepreneur must always keep an open door policy so that new and uncommon ethical issues can be worked out as they arise. 5. Clipping is a handy way to collect important slides you want to go back to later. While all of these activities have a practical basis, in that they protect the environment and the public reputation of your business, they also have a great impact and influence on others. Business owners are bound by law to treat customers fairly. The self vs. community issue was seen as the necessity to create as much profit for the organization as possible to enable its continued work to help all the clients and workers in its community. Complicating ethical issues is that, in some cases, there is no conflict between right and wrong; instead, there are only the conficting interests among a company's stakeholders. This practice should be included in the businesss plan and mission and become part of a more formal ethics training for all. Uploaded on Aug 01, 2014. , Entrepreneurial ethics, combined with integrity and all the right motives, would allow for economic growth and gradual development throughout the primary, secondary and tertiary sectors in the economy. 8. ethical standards. PowerPoint presentation 'Ethics, Social Responsibility, and the Entrepreneur' is the property of its rightful owner. Social responsibility is an ethical framework in which individuals or corporations are accountable for fulfilling their civic duty and taking actions that benefit society. Discount is valid on purchases made directly through IGI Global Online Bookstore (, Garg, Renuka and Subhash Yadav. Entrepreneurial Ethics are those codes of conduct, employed by entrepreneurs which impact society positively, thereby increasing the entrepreneurs chances for greater success. So the importance of entrepreneurship ethics goes way beyond what we expect! Enjoy access to millions of ebooks, audiobooks, magazines, and more from Scribd. Both the business and employee need to follow these core values, so it's important to define a clear set that lasts long term. 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A healthy entrepreneurial spirit is certainly a viable option for many countries facing unemployment crisis, especially in the third world countries. Gaushala: A cowshed. Ethical Entrepreneurial practices bring forth positivity with the vision and mission of an organization. We've encountered a problem, please try again. Standards of Entrepreneur Rights in Competition Proceedings a Matter of Adm Children & Women in Social Service and Human Rights. (1997). Examine the concepts of the social entrepreneur and the social business Explore the mind-set of social entrepreneurs Introduce the concept of ecopreneurship Define the term ethics and the implications for entrepreneurs Examine environmental crime and its temptations for entrepreneurs Examine cross-cultural concepts of ethics and corruption Examine the ethics of criminal entrepreneurs and their similarities to other entrepreneurs Focus on the challenges that face disadvantaged entrepreneurs. Successful entrepreneurs operate on sound business ethics which are approved and accepted in any society. are those who build The entrepreneur today should embrace doing business ethically in order to improve their standards. The entrepreneur today should seek out the opportunity to personally treat all clients well, and express great and humble appreciation when they support your business. 3.0: Prelude to the Ethical and Social Responsibilities of Entrepreneurs. (2016). Successful business empires have gained credibility and reliance as a result of their sound ethical entrepreneurial practices. Entrepreneurs who manage to keep open lines of communication with their employees, grow to understand their feelings about things taking place within the workplace, and they work together to ensure that everyone is in alignment to benefit from their association with the organization. Set an impeccable ethical example at all times. For the individual entrepreneur, a reputation for much needed ethical practices can place your business on the top lists of ethical businesses with which others will unhesitatingly choose to do business with, increasing your opportunities for successful business partnerships. sector. According to key team members, the great majority of the CEOs of these social enterprises scored very high in ethical leadership, transformational leadership and empowering leadership (Heinecke et al., 2014, p.4). Core values reinforce the company mission and show how the company intends to uphold its social standards. This entrepreneur will no doubt enjoy both financial success and a superb reputation. The truth was the laundry could not make money unless the company brought in more machinery and more adept workers to run it. Sewa: An act of service towards all that exists, done only after understanding and realizing the oneness of all existence. The literature on ethics and entrepreneurship is equally divided into researchers who argue that entrepreneurship and ethics are inherently incompatible while others like Hisrich (2001) suggest that while entrepreneurs and managers are in general agreement on many ethical issues, in some areas entrepreneurs consistently placed a greater emphasis on ethical behavior. He argues that personal values may strongly influence how entrepreneurs reason about and act upon, the ethical problems they encounter. Related:Inspirational Steve Jobs quotes for entrepreneurs. 6. If you are connected with creating social change, it is easier to scale and grow your business. These are the following: 1. The CEO determined that this wasnt a right vs. wrong situation but a right vs. right situation. The authors own experience of working for a social enterprise, training and employing disabled workers, gave him an opportunity to confront some of these leadership issues and ethical dilemmas. The short term advantages of employing more severely disabled workers were overridden by the long term prospect of the operation creating too big a loss to be continued. Businesses change as they grow, and so to, do their objectives. We've updated our privacy policy. Amil Baba Ka Number | Amil Baba UK | #blackmagicspecialist #amilbabacontact No #1 Black Magician Specialist In London Canada #vashikaranspells #horoscope. Now customize the name of a clipboard to store your clips. An Ashram is a place of learning where students are taught the former and guided towards the latter. Ritam: A cosmic order which is the basis of all ethics, spirituality, and values. If u need a hand in making your writing assignments - visit www.HelpWriting.net for more detailed information. The ethical entrepreneur today should explore, welcome, and employ the many ways that a business can reduce its Eco-footprint on the environment, including recycling, reducing energy waste, carpooling, minimizing paper packaging and usage, and reducing wasteful business practices among other things. Organizational Ethics should not only be practiced by larger businesses. Amil baba contact number, Kala jadu for love marriage specialist, Amil baba in Pakistan,Amil baba Karachi,Amil baba Multan, Amil Baba In Multan Islamabad | Offical amil baba contact number, CUMMINS 432586473-Catalogo-Afa-Cummins-Qsb6-7-Series.pdf, Authentic Amil Baba In Pakistan, Karachi, Hyderabad #manpasandshadi #amliyaat. What is an Entrepreneur? Bapu: An honorific for an elder usually in a fatherly sense. 4. An entrepreneur who sets out to cheat or underpay his employees will indefinitely cause his organization to suffer and be subject to high staff turnover, low morale, dishonesty among other negative things that could cause the downfall of the business. Core values that support social responsibility and ethics include: Integrity. Ethical values and the commitment to continued ethical practices must be reworked and re-communicated every time change occurs, thereby preparing all involved in the business to deal with the changing and evolving ethical dilemmas. 1. those who build A business is not supposed to make a profit jeopardizing the community around it. Related:Powerful Quotes of Entrepreneurs That Will Motivate Your Entrepreneurial Pursuits. In fact, the entrepreneur today can consciously choose to make ethics a part of their business plan. An early and consistent stand against questionable conflicts of interest is an important aspect of any entrepreneurs ethics effort. How a company treats its workers is a good indication of its ethical practices. Social responsibility is an element of ethical conduct. Organizational Ethics should not only be practiced by larger businesses. Entrepreneurs are responsible for making money for themselves. Without this trust, Ethical Entrepreneurial practices bring forth positivity with the vision and mission of an organization. Download Now, Ethics, Social Responsibility, and the Entrepreneur, Strategy, Ethics and Social Responsibility, Business Ethics and Social Responsibility, Business Ethics and Social Responsibility, Ethics and Corporate Social Responsibility, Social Responsibility and Marketing Ethics, Social Responsibility and Managerial Ethics. The ethical entrepreneur thinks and talks about the ethical values that matter at any given opportunity. He must pay the correct amount of taxes to the government. In particular, it looks at how entrepreneurs can create value for their stakeholders while also adhering to ethical values and social responsibilities. In, Renuka Garg (Veer Narmad South Gujarat University, India) and Subhash Yadav (Narmada College of Management, India), Advances in Higher Education and Professional Development, Social Sciences and Humanities e-Book Collection, Education Knowledge Solutions e-Book Collection, Social Sciences Knowledge Solutions e-Book Collection, Handbook of Research on Ethics, Entrepreneurship, and Governance in Higher Education. They are committed to contribute to the development of the community and the entire humanity. It is difficult, and possibly unavoidable, to engage in business while having no impact on the environment. 3.2: Corporate Social Responsibility and Social Entrepreneurship. It is imperative,that the entrepreneur today understand that the business they run has responsibilities to everyone. Explore the mind-set of social entrepreneurs 3. Social responsibility means the behavior that is expected from a man in the workplace. Shri: An honorific for males, occasionally used for females as well. 5. New York, NY: William Morrow & Co, Sanders, J. E., Hopkins, W. E., & Geroy, G. D. (2003). changes direction, there Even if youre in the craft business, your clients are looking on to see how you utilize resources or recycle products. The assignment first looks at the concept of stakeholder theory and how it applies to entrepreneurship. 1422 Views Download Presentation. 3.3: Developing a Workplace Culture of Ethical Excellence and Accountability. How good people make tough choices. The ethical entrepreneur looks for opportunities to engage the business as a whole and align them to the community and its needs. Who are Amil Baba In Pakistan, Amil Baba In Karachi, Amil Baba In Hyderabad, Amil Ba #amilbabainuk contact now #authentic, Amilbaba Ji #authentic amil baba asli, kala jadu amil baba #amilbaba In Uk, No public clipboards found for this slide. (2014). Personal and business success is accomplished, and client and team satisfaction is the most prominent benefit for all. Provision of training in ethics for employees; and 6. By accepting, you agree to the updated privacy policy. Copyright 1988-2022, IGI Global - All Rights Reserved, (10% discount applies to all IGI Global Published Book Products and cannot be combined with other offers. The frantic and elaborate, rapid growth of start-ups makes it easy to submit to the temptations of malpractices in order to stay alive in this highly competitive business world. In this case the desire to serve the community was constrained by fears that the investment wasnt justified by the market and that it could seriously injure the overall financial health of the organization. Another example of this organizations multiple bottom line thinking was the serious consideration of entering the field of environmentally friendly dry cleaning, using harmless liquid carbon dioxide instead of highly toxic perchloroethylene as part of its laundry business. Answer (1 of 3): They have no social responsibility as part of their business ventures other than to follow all laws. This assignment examines the role of ethics and social responsibility in entrepreneurship. Looks like youve clipped this slide to already. innovative ways to solve Need of Ethics to An Entrepreneur The social dimensions of business ethics cannot be overlooked because many problems arise from the relationship of business to the boarder society. It is proposed that it is the ethical purpose and intention which creates a social enterprise, though some researchers (Dey & Steyaert, 2016) argue to the contrary. You can read the details below. OpenStax. References AbilityOne. The ethical entrepreneur looks for opportunities to engage the business as a whole and align them to the community and its needs. Yatra: A journey, usually undertaken for self-discovery. Ethical policies should be included in business plans, in the businesss mission statements, and in all other business documents. The ethical entrepreneur looks for opportunities to engage the business as a whole and align them to the community and its needs. Set an impeccable ethical example at all times. Adaption of internal programs for resolving conflicts; 4. In fact, the entrepreneur today can consciously choose to make ethics a part of their business plan. Business ethics & culture are closely related and deeply influence each business enterprise. , 2. social entrepreneurs? Indian tradition differentiates learning at two levels: The lower knowledge is empirical knowledge, knowledge of the world gained by the senses and interpreted by the intellect. Create a culture that emphasizes two-way communication. Kidder (1995), states that if a situation is not a clear cut case of right vs. wrong then there are four ethical dilemma paradigms, truth vs. loyalty, short term vs. long term, justice vs. mercy, self vs. community. COURSE TITLE: ENTREPRENEURIAL MANAGEMENT. What is Social Responsibility? Entrepreneurs have legal obligations to provide a safe workplace and fair employment policies. windmills. Areas of social responsibility include business giving, ecological and environmental quality, consumerism, government relation, and labor relations. If you are truly invested in reducing your businesss Eco-footprint, then you can have a much greater impact, not just in the business world, but in the community and environment as a whole. Entrepreneurs . Javits-Wagner-ODay Act. This in part overrode the loyaltycomponent that the organizational mission was to primarily serve those developmentally disabled workers. Unless job values are in harmony with the rest of life, he cannot be happy . He must also be fair with his suppliers by paying them on time as agreed upon. Create a culture that emphasizes two-way communication. Bhakhri: A thick chapatti made of coarse grain. Objectives 1. This reinforces the need for the transcendental leader who can be both directive and empowering as the situation merits (Sanders, Hopkins, & Geroy, 2003). Next, we explore a number of business ethics issues to help you learn to recognize such issues when they arise. He has to contribute into education, sports, environmental protection, healthcare and other fields of social life. Answer (1 of 5): Global online customers are willing to pay more for products and services provided by companies that are committed to positive social and environmental impact. Ethics Reality Check For The Entrepreneur Ethics. First, we define business ethics and examine why it is im- portant to understand ethics' role in business. This aids in team building and strengthening interpersonal relationships. 1. In S. Nair, & J. Saiz-lvarez (Ed. Weve updated our privacy policy so that we are compliant with changing global privacy regulations and to provide you with insight into the limited ways in which we use your data. Higher knowledge knows oneself in ones essence, understanding the source of ones being. 3. It can be clearly seen that when good entrepreneurial ethics are demonstrated, businesses can handle or tackle difficulty when they arise. When you build a business on integrity, and set off with an attitude of nobility, humility and service, and the intention of making a living by providing your community with needed goods and services, you contribute to, rather than detract from, the general good. Sharda: Goddess of learning, named as Saraswati. Definition and Meaning, 10 Best Free Tool Credits for Early Stage Startups, 12 Things That Require Zero Talent And Will Help You Succeed, 12 Things You Should Know Before Starting Your Entrepreneur Journey. The decision was seen within the organization as a case of difficult but ethical decision making. Oxford, UK: Capstone Publishing Ltd., Oxford Centre for Innovation, Heinecke, H., Kloibhofer, M, & Krzeminska, A. Acting responsibly toward suppliers or vendors results Responsibility to Individuals Corporate social responsibility affects employees, customers, investors, and creditors. In this chapter, we will take a look at the role of ethics and social responsibility in business decision making. The ethical entrepreneur challenges growth and renews the commitment to ethical practices. In a business, an entrepreneur's social norms, morality, social responsibility initiatives, and norms of conduct are said to be a matter of business ethics. Entrepreneurial ethics would lead to positive attitudes towards raising successful entrepreneurs, who would, in turn, build entrepreneurial institutions for societal growth and advancement. ), Garg, Renuka, and Subhash Yadav. In this section, the aspects covered are understanding ethics, social entrepreneurs, social enterprises, social entrepreneurship and ethics and challenges faced by social entrepreneurs. Start-ups can create and effectively commit to sound ethical practices. Schwab Foundation for Social Entrepreneurship/World Economic Forum: Geneva, Ivnescu, I., Gheorghe, C.M., & Sztruten, G.G. either the market or the public The study proposes a new subdomain of social entrepreneurship which focuses on the subjective, individual, personal values of the social entrepreneur which result in the formation of the social enterprise. The ethically made entrepreneur should be un-naively aware of the inevitable and unavoidable tensions in the business world, and anticipate these tensions not with fear, but with resilience, and so be able to put in place, a reasonable action plan that helps the entire team to deal with these tensions before the situations are actually encountered. Adaption of a code of ethics; 2. driven by a social mission, By whitelisting SlideShare on your ad-blocker, you are supporting our community of content creators. The present study is an attempt to highlight the role of own values in the creation and evolution of a social enterprise. Corporate Social Respons. Instant access to millions of ebooks, audiobooks, magazines, podcasts and more. Ethical considerations are significant for managers due to the following reasons: For every individual job is the Centre of life. Muni: A sage, who usually is silent and non-vocal about her/himself. Leadership in social enterprise: How to manage yourself and the team. social problems that are not It is the business of an entrepreneur to communicate clearly to all, from the initial stages of business, the ethical standards they employ. Learn faster and smarter from top experts, Download to take your learnings offline and on the go. Hand in hand with entrepreneurial ethics is integrity in business. Involve employees in establishing ethical standards. 7. Top management support. Free access to premium services like Tuneln, Mubi and more. The cow is a symbol of Sattva Guna: purity and harmony. The organization had taken government loans to create and run a commercial laundry on its campus serving mainly federal government institutions under the Javits-Wagner-ODay Act (Ability One, 2016). What exactly is the social responsibility of the Entrepreneur or Businessmen The entrepreneur must sell quality products at fair price. They must decide to make ethics a principle value of their businesss objectives and mission. Activate your 30 day free trialto continue reading. A healthy entrepreneurial spirit is certainly a viable option for many countries facing unemployment crisis, especially in the third world countries. Related:Top most powerful inspirational Larry page quotes. The relationship between social responsibility and business ethics is especially explicit when it comes to operations of multinational companies (MNCs) (Godiwalla 1381). Define the term ethics and the implications for entrepreneurs 5. Maintaining Ethical Standards. It is improving the community in general. Note: Cherise Castle-Blugh is the Author of THE TIMELY ENTREPRENEUR & the Key Educator at Downers Educational Institute in the field of Business and Entrepreneurship. Uzuri Rashad. Ethics, Social Responsibility, and the Entrepreneur. [Web page]. When entrepreneurial ethics are practiced and visible, the entrepreneurs and their team, work with great zeal, dedication, and purposefulness, to achieve the organizations objectives, and together, they work for the common good of all. This report shows historical justifications for separating ethics and social responsibility and supports the use of social responsibility as a method of developing brand identity. Aarogya: Health is all aspects physical, mental, spiritual. The famous motto, "People, Planet, Profit", (Elkington, 1997) includes the triple . (2013) Social entrepreneurship in EU region, Romanian Economic and Business Review,8(Sp1), 416-426, Kidder, R. (1995). It is important to treat all employees well as they represent the business daily, but it will also benefit the entrepreneur because most people are more likely to reciprocate what behaviours and attitudes they receive. 3. Sound Entrepreneurial ethics helps to develop relationships built on mutual trust and respect. In terms of ethics, entrepreneurs are responsible for following all laws in business and in the world, just like an. Atithi: Guest who comes on a not appointed date. Involve employees in establishing ethical standards. "Ethics and Social Entrepreneurship: An Exploration.". Karmabhumi: A physical place of living for an individual which helps in extinguishing his karmic debts incurred in previous existence/s. Examine environmental crime and its temptations . Psychological explanations of criminal behavior. Maharaj: An honorific used for great men, the ruling lord. 7. The justice vs. mercy issue was dealt with by finding other though lesser paying jobs for the more disabled workers. Entrepreneurship and Small Business Management, 3. types of entrepreneurs and their characteristics, Oct 14 ecd lecture 6 starting the business(1), Ethics & laws in business-By Saad ELhalafawy, Social Enterpreneurship: Business for Good, Social Entrepreneurship for Young Entrepreneurs, Entreprenuership rebuilding business, leadership and organizations, Introduction to Entrepreneurship Development, Entrepreneurship Development [ Basic Concept ]. But ethical leaders who display empathy are aware of a need for additional bottom lines that clarify the organizations responsibility to its own employees, and its responsibility to the local and greater communities of which it is a part. Now, an average entrepreneur should take efforts to improve the condition of current society. that the entrepreneur today understand that the business they run has responsibilities to everyone. Hence cowshed is usually is an essential part of all Ashrams. Retrieved from http://www.abilityone.gov/laws_and_regulations/jwod.html, Elkington, J. Any entrepreneur who willfully and dishonestly engages in business activity with the motive of ripping people off or profiting at the expense of others, creates a harmful business environment of distrust and antagonism. It soon became evident that the developmentally disabled clients were not capable of operating the machinery in an efficient way that was profitable. The SlideShare family just got bigger. Since the market for CO2 dry cleaning was in its beginning stages and government had not banned perchloroethylene as had been anticipated, this opportunity was not followed up on. Entrepreneurs must first recognize that there are ethical dilemmas surrounding them within the culture of entrepreneurship. Good business ethics should be visible to all who come into contact with the business. It is important that entrepreneurs today dont get caught up in moneymaking schemes and lose sight of the importance of doing the right thing for the common good. A survey carried out among 150 senior employees of social enterprises supported by the Schwab Foundation for Social Entrepreneurship found that social entrepreneurs in that organizational network were similar in their leadership style. When the wind It goes without saying, that when good work habits are developed and practiced by all within an organization, a special bond is formed and a loyalty to the company becomes apparent. 3.1: Ethical and Legal Issues in Entrepreneurship. The famous motto,People, Planet, Profit,(Elkington, 1997) includes the triple bottomline of making money, serving a constituency, and doing no harm to the planet. 2. When entrepreneurs model environmental ethics and encourage Eco-friendly practices, others are likely to follow suit. Social enterprises because of the difficulty of fulfilling multiple bottom lines (Ivanescu, et al., 2013) need leaders skilled both in ethical behavior and business practices who have the wisdom and adeptness to balance those bottom lines. Ashram: A place of learning. The respondents also stated that if there was a leadership quality lacking it was primarily relating to the ability to employ transactional leadership linking performance to rewards and positive or negative feedback (Heinecke et al., 2014, p.4). If a company or person considers taking actions that could harm the environment or society, those actions are considered socially irresponsible. As the entrepreneur and his/her business grows, re-valuation is important and needed where ethics is concerned. 6. An equal hazard is a lack of transactional leadership with its important feedback and helpful direction. However, aggressive leadership is not the only pitfall to be avoided in social enterprise management. The behavior of an employee should always be according to social and community norms. "Ethics and Social Entrepreneurship: An Exploration." These organizations have a well-established culture. Mandir: A place of consecration and worship as conceived in the Indian tradition. 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