tesorio 8

• Respect


  You must respect yourself as a business owner and surround yourself with people who can respect you
• Honor


  Ethical behavior requires good people. They're also fantastic representatives for doing the right thing
• Integrity


  Never lie, steal, or defraud someone. Make your word your bond and always keep it
• Customer focus


  A business is nothing without consumers. More to the point, if a company does not produce what people want and are ready to pay for, it is worthless
• Outcomes-oriented


  It's not a good idea to try to accomplish results at any cost. Work hard to attain your objectives while remaining true to your company's values
• Ethical enterprises' four pillars


  • Objectivity
  • Integrity
  • Honesty
  • Resource efficiency
• Objectivity


  Is your business strategy focused on win-win scenarios?
• Integrity


  Can the truth be used to promote your company's products or services?
• Honesty


  Can you tell others what your company performs without embarrassment?
• Resource efficiency


  Does your company make efficient use of its resources?
• The four cornerstones of an ethical business are fairness, integrity, decency, and long-term viability
• Ethical entrepreneurs


  • Recognize the ethical issues in entrepreneurial culture
  • Decide ethics will be integral to their company's vision and goals
  • Be aware of unavoidable tensions and have a plan to address them
  • Engage the business with community needs
  • Always discuss and think about ethical ideas
  • Aspire to be successful while adhering to a strict code of ethics
• Stages of ethical consciousness


  • Stage 1: Might makes right
  • Stage 2: Anything goes
  • Stage 3: Maximize short-term profitability
  • Stage 4: Maximize long-term earnings
  • Stage 5: The stakeholder concept
  • Stage 6: Corporate citizenship
• Stage 1 "Might makes right" is the first and lowest stage of ethical consciousness where decisions and acts are based on effortless physical and material power
• Stage 2 "Anything goes" is where most activities are still self-centered and materialistic, with entrepreneurs attempting to maximize personal financial gain as rapidly as possible by doing whatever it takes to make a profit as long as they don't get caught
• Stage 3 "Maximize short-term profitability" requires a higher level of adherence to socially and economically approved business procedures, with entrepreneurs striving to maximize profits within the constraints of the law
• Stage 4 "Maximize long-term earnings" has a significantly higher level of ethical consciousness, with entrepreneurs looking to laws, regulations, and codes for advice and being just as concerned, if not more so, with doing what is right and profitable in the long run
• Stage 5 "The Stakeholder Concept" is a stage of reasoning that goes beyond the idea that business exists solely to make money, with companies openly announcing that they have a social as well as an economic goal
• Stage 6 "Corporate Citizenship" requires a higher level of ethical consciousness to redefine business's mission in society, with the belief that a business can only be healthy if the society around it is healthy
• taking risk - So far you might have gotten the notion that ethical businesses are afraid to do the right thing
• Passion - Great companies area made up of people who are passionate about their work
• Persistence - People that work for exceptional companies have a strong desire to keep going