Entrep

• Ethics


  A set or system of behavior based on moral ideals
• Most basic ethical concepts


  • Honesty
  • Integrity
  • Justice
  • Equality
  • Respect
• Values


  Qualities or ideas which each of us cares about, upholds, and considers important
• Morality


  One's individual perception of right and wrong, good and evil
• Immanuel Kant: 'The moral law is within each of us, guiding us in our actions'
• Ethics


  Moral guidelines that govern good behavior
• Behaving ethically in business


  Widely regarded as good business practice
• Advantages of ethical behavior in business


  • Builds customer loyalty
  • Keeps good employees
  • Improves productivity in the workplace
  • Avoids legal problems
• Henry Ford: 'A business that makes nothing but money is a poor kind of business'
• Business ethics concepts


  • Honesty
  • Integrity
  • Fairness
• Honesty


  Hallmark of a company's dealings
• Integrity


  A person with integrity keeps agreements and promises
• Fairness


  Paying employees just wages for their work and dedication, giving clients and customers value for their money
• Business plan


  An invaluable tool for any entrepreneur
• Primary purposes of a business plan

  • To serve as an action plan
  • To serve as a road map
  • To serve as a sales tool
• Basic parts of a business plan


  • Company description
  • Mission statement
  • Long and short-term goals
  • Organization
  • Product (or service)
  • Price
  • Promotion and positioning
  • Target market
  • Competitive analysis
  • Financial information
  • SWOT analysis
  • Timetable
• Barriers to entrepreneurship development


  • Difficulty finding information on local regulations, taxation, and environmental laws
  • Inadequate infrastructure facilities
  • Lack of support from local government
  • Resistance to technological advancement
• Entrepreneurs, especially in rural areas, face non-financial barriers
• Sharma (1977) found that entrepreneurs in the Philippines were independent and highly motivated to take risks, with a great desire to maximize their potential
• Elnamaki (1988) reported a declining level of small business self-employment in the Philippines
• According to Zwierczek and Jatusripatak (1994), entrepreneurs in the Philippines appear to have greater advantages than elsewhere in Southeast Asia
• The ethnic Chinese in the Philippines has been very active in small business development, while indigenous Filipinos have tended to exhibit a lesser incidence of entrepreneurship
• Since the 1980s, several measures have been taken to broaden the appeal of entrepreneurship and to assist Filipino entrepreneurs
• The unequal regional development shows gaps in infrastructural and support services for entrepreneurial activities at the regional level
• E.F. Schumacher stated that developing the countryside is the best way for a country to grow in a sustainable way
• The One Town One Product (OTOP) program of the DTI is an example of developing communities at the grassroots
• Former Tanzanian President Julius Kambarage Nyerere has said that development will occur if and only if the people can organize their power in their own interests
• David McClelland observed that we do not know what makes an entrepreneur more or less ethical in their dealings, but it is an important issue for future research
• Entrepreneurs are urged to look seriously into ethics because more and more people realize that "We are our brother's keeper" is true
• Ethics is internally imposed by the character of the entrepreneur, and honesty cannot be imposed from outside the person
• Without ethics, the person will fall under the weight of corruption, which is a lack of conscience or character
• Sustainable development is centered on man, not science or technology, and human beings need to live healthy, dignified, and productive lives in harmony with nature
• An entrepreneur must run their business considering their responsibilities not only towards themselves but also towards others and towards the gifts of nature that they utilize
• Doing business the ethical way builds consumer loyalty, keeps good employees and makes them happy and productive, and creates a stable environment that minimizes unexpected problems
• A country whose base of job-generating, income-producing entrepreneurs stick to high standards of conduct is likely to sustain its socio-economic growth because it maximizes prosperity, harmony, productivity, and natural resources