buseth 1&2

• Entrepreneur


  A person who takes the risk for a new business venture and accepts full responsibility for its outcome
• Entrepreneur


  A person who undertakes an enterprise, specifically a contractor who acts as an intermediary between capital and labor
• Term 'entrepreneur' coined


  1800
• Characteristics of an Entrepreneur

  • Leadership
  • Visionary
  • Decisive
  • Adaptable and flexible
  • Possesses integrity
  • Appreciative
  • Honest and fair-minded
• Responsibilities and Accountabilities of Entrepreneurs

  • People do their best with a balance of work and family life
  • Organizations perform best in healthy communities
  • Organizations gain by respecting the natural environment
  • Organizations must be managed and led for long-term success
  • Organizations must protect their reputations
• Responsibilities towards Employees/Workforce


  • Workplace safety
  • Quality-of-life issues
  • Ensuring equal opportunity on the job
  • Preventing age discrimination
  • Preventing sexual harassment and sexism
• Rights of Stakeholders


  • Shareholders
  • Company
  • Investors
  • Customers
  • The right to be safe
  • The right to be informed
  • The right to choose
  • The right to be heard
  • Government
  • Community and the general public
• Corporate Philanthropy


  Cash contributions, donations of equipment and products, and supporting the volunteer efforts of company employees
• Ethical Marketing


  Promotes honesty, fairness, and responsibility in all advertising; builds relationship between the company and the customer
• Ethical Issues in Business


  • Pertaining to customers
  • Pertaining to employees/workforce
  • Pertaining to government
  • Pertaining to the public or society in general
  • Pertaining to the environment
• Unethical Advertising Practices


  • Bait and switch advertising
  • Advertising for children
  • Deceptive advertising
  • Exaggeration or puffery
  • Misleading advertisements
  • Surrogate advertising
• Sexual Harassment


  An act or series of acts involving any unwelcome sexual advances, request or demand for a sexual favor, or other verbal or physical behavior of a sexual nature, committed by an employee or official in a work-related, training- or education- related environment
• Quid Pro Quo Sexual Harassment


  When a person demands, requests, or requires sexual favors from another person in exchange for another thing such as hiring for employment, re-employment, or continued employment, granting favorable compensation, terms of conditions, promotions, or privileges
• Inappropriate Computer Use and Time Stealing

  When employees use the company computers for personal purposes like in personal social media, personal e-mail that is not work-related, personal shopping on-line and random internet-surfing for personal purposes
• Unfair Competition


  Deceptive or wrongful business practices that economically harm both consumers and business organizations
• Examples of Unfair Trade Practices

  • Trademark infringement
  • Shortchanging the customer
  • Withholding of some important information during the purchase of goods or service
  • Misappropriation of trade secrets
  • Employee piracy
  • Restraining workers to join labor unions
• Environmental Parasitism


  A business organization that draws its resources from the local community both from raw materials to human resources but fails to reinvest and develop the community
• Approaches a company can take to address its impact on the environment

  • On people
  • On resources
  • On the environment
• Examples of Reckless and Unethical Practices

  • Failure to remit employee social security contributions
  • Failure to record sales for tax purposes
  • Non-payment of business taxes on time
  • Failure to secure basic business registration requirements
• Unethical Practices in the Public Sector

  • Graft and corruption
  • Improper use of government property
  • Bribery and influence peddling
  • Conflict of interest and self-dealing
• Simon Sinek, Author and Organizational Consultant: 'People don't buy what you do; they buy why you do it.'