Ethics in Entrepreneurship Essay Example | Topics and Well Written Essays - 1750 words

Ethics in Entrepreneurship - Essay Example But in performing such type of operations, Ethics is extremely essential. It is known as the philosophy that an entrepreneur or business organization adheres in its dealings. This means, each and every business organization or entrepreneur comprises of certain rules and principles that its employees need to follow at the time of tackling its operations. Otherwise, the entire business organization might lead to downfall of productivity and profit margin. Apart from Ethics, Morality is another essential term offering high value towards business. Morality is mainly concerned with varied types of values, norms and beliefs that help an individual to detect the right or wrong actions. Thus, the behavior of an individual is highly influenced by such values, beliefs and norms that vary from person to person. With the help of such behaviors, an entrepreneur or individual enhances the prospects of a business organization. So, such values are extremely essential for an entrepreneur. Discussion The characteristics of Ethics in business are as follows: Ethical decisions differ from one person to another. It is mainly due to different views, values, norms and beliefs of varied types of individual. However, each and every types of ideas and values need to be apt for the customers or employees of the organization. Ethical decisions need to be at par with the cost incurred and the profit margin of the business. In order to do so, the entrepreneur needs to offer the products and services in such types of prices to its customers. The decisions of the employees in a business are voluntary their own deeds. So, it is essential for the employees to present ethical decisions that might prove effective for the business in long run (Shaw, 2010). Ethics is a trait of human being that needs to be ethical. Otherwise, being an employee of an organization, he might not be able to take any type of ethical decisions. Not only in his professional life, but ethics is also essential in oneâ€℠¢s private life. If he or she fails to take the ethical decisions, then he or she might never prosper in life in future era. Side by side, due to an unethical decision, not only the image or productivity of the organization might get reduced but also the reputation may decline. The range of customers might get reduced slowly and slowly leading to downfall of the entire profit margin of the organization. Thus, the rate of loyalty over the brand or the entrepreneurial image might get faded among the public day by day. So, it is extremely essential to maintain a strong status and supremacy in the market for the brand and its products on the basis of ethical decisions. Only then, an entrepreneur might prosper. Ethics is a type of characteristics feature of a human being that varies from one individual to another. Moreover, working in a group or an organization, the ethical views and norms of an individual also gets highly influenced by others. Some of the aspects by which, ethics within an organization gets affected are stated below: Religion- as numerous individual works within an organization or under an entrepreneur, some due to diverse religious traditions and norms, ethical decisions also get affected. Thus, sometimes, due to religious variations, the decision making of the individual gets influenced to a certain extent. But still, serving the human being in a best way is the only view