Entrepreneurship Weeks 1&2 Ethan Chazin


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Entrepreneurship Weeks 1&2 Ethan Chazin

  2. 2. • About YOUYOU • About MEME • Review The Syllabus Charge Boldly Ahead!Charge Boldly Ahead! Tonight’s Agenda
  3. 3. Our Textbook
  4. 4. Around the Room:Around the Room: Why Are You TakingWhy Are You Taking This Course?This Course? About YOU
  5. 5. About ME  BA in Comms (MBA Mktg)  20 Years In Corp. America  Started Career as Recruiter  Downsized 8X  Mktg/Sales Background Launched a Biz Consultancy ‘04 Contact me at: T: (201) 683-3399 EM: Ethan@TheChazinGroup.com
  6. 6. What I Do…  Job Search Strategies  Interviewing & Networking  Career Coaching  Life / Work Balance  Business Owner Coaching  Human Capital Development  Professional Development  Salary Negotiations
  7. 7. What is anWhat is an ENTREPRENEUR?ENTREPRENEUR?
  8. 8. Chapter 1: Small Biz OpportunitiesOpportunities & RewardsRewards
  9. 9. • SBA • NY SBDC • Workshop in Biz Opportunities • SCORE • NYC Business Solutions Centers • Business Incubators • Workspace Getting Help
  10. 10. Definition of Small Biz
  11. 11. • Per SBA 25.8mm SB in US in ‘05 • SMEs 1-50 employees • Independent: owned by an individual • 16.3mm self-employed people in US in ‘06 (US Census) • Need for financing = Oxygen Definition of Small Biz
  12. 12. 2010 Census With Respect2010 Census With Respect to Small Businessto Small Business
  13. 13. Dynamic Capitalism Typology
  14. 14. • Growing the business from start up • Flexibility • Income Rewards
  15. 15. Getting Started
  16. 16. • 95% of all jobs Fueling the Economy
  17. 17. • 25% of today’s American workforce categorized as independent, contract and consulting professionals. • 15-20% unemployment. • The Internet has shifted power from the content OWNERS to the MASSES • Americans spend 2 years searching for a 1 year contract assignment. New Opportunities
  18. 18. • PublicPublic: revitalizing Government agencies. • IndependentIndependent: small business. • CorporateCorporate: customer focus & innovation. • SocialSocial: creating charitable and civic organizations. 4 Forms of Entrepreneurship
  19. 19. Chapter 2: Small Biz Ethics
  20. 20. What’s “ETHICAL”What’s “ETHICAL” Behavior?Behavior?
  21. 21. “Being in accordance with the accepted principles of rightright and wrongwrong that govern the conduct of a profession.” /www.thefreedictionary.com/ethical
  22. 22. Ethics refers to standards of right and wrong that prescribe what we ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues. Ethics refer to the standards that impose the reasonable obligations to refrain from rape, stealing, murder, assault, slander, and fraud. www.scu.edu/ethics/practicing/decision/whatisethics.html
  23. 23. Ethical standards also include those that enjoin virtues of honesty, compassion, and loyalty. Ethical standards include: standards relating to rights (right to life, freedom from injury, the right to privacy.) Such standards are adequate standards of ethics, because they’re supported by consistent/well-founded reasons. www.scu.edu/ethics/practicing/decision/whatisethics.html
  24. 24. Ethics refers to the study and development of one's ethical standards. Feelings, laws and social norms can deviate from what is ethical. So it’s necessary to constantly examine our standards, to ensure that they’re reasonable and well-founded. Ethical behavior requires we continuously study our beliefs and conduct, and striving to ensure that we, and the institutions we work for, live up to standards that are reasonable and solidly-based.
  25. 25. •Ethical EgoismEthical Egoism: acting for your OWN self interest. •UtilitarianismUtilitarianism: creating the greatest good for the greatest number of people. •AltruismAltruism: advancing the best interest of others.
  26. 26. Does compliance reinforce inaction and only token responses? The Chazin GroupThe Chazin GroupFOR DISCUSSION
  27. 27. Ready to See HowReady to See How ETHICALETHICAL You Are?You Are? Let’s take a quiz.Let’s take a quiz. www.ea.ne.gov/PDFs/presentations/BusEthicsQuiz.pdfwww.ea.ne.gov/PDFs/presentations/BusEthicsQuiz.pdf
  28. 28. You are an office manager and you discover that an upper-level manager has repeatedly used the company credit card for personal expenses. What do you do?What do you do? Example #1
  29. 29. a) I do nothing. The person is higher than I am so it must be OK. b) I confront the person and hope that this won't threaten my job. c) I confront the person and reveal what I know to a higher-level manager or someone in human resources.
  30. 30. Correct Answer: CC Talking to the person is not enough to ensure that the behavior won't continue. "Intervening directly is necessary but not sufficient," says Bruce Weinstein, Ph.D., who writes the column "Ask the Ethics Guy.“ Weinstein says management or HR should monitor the person.
  31. 31. You have authority over Human Resources and an employee comes to you and says: "I want to tell you something about someone, but you can't tell anybody." He then reveals that someone pushed another employee in the company kitchen. What do you do?What do you do? Example #2
  32. 32. a) I promised not to tell, so I don't. b) I find out if the employee was injured and decide based on that whether to tell. c) Even though it breaks my promise, I tell my boss so the incident goes on record.
  33. 33. Correct answer: CC Jenn Crenshaw, a professor at the Univ. of Phoenix in VA says a human resources manager should warn employees before they divulge a secret that her position and the law might require her to tell someone else. "Then they get to decide whether or not they're going to tell me," Crenshaw says. Even if she doesn't get a chance to forewarn the employee before sensitive information is revealed, she makes sure anything important, like physical assault, goes on the record by telling a higher-up.
  34. 34. • As a start up ALL you have is your reputational “brand” build Legitimacy • FORMALFORMAL vs. INFORMALINFORMAL Culture • Powerful Recruiting tool: Become a preferred employer • Create written standards of ethical behavior (TSB) • Apply to recruiting, hiring, keeping and growing your people • Crisis Management Ethic’s Impact on Culture
  35. 35. • Who will be hurt/how badly? • Who will benefit/how much? • What do you owe others? • What do others owe you? The 4 Questions
  36. 36. For Discussion
  37. 37. • DistributiveDistributive View – “WIN/LOSE” – What’s best for my business • Integrative View: – What’s best for everyone involved Options for Action
  38. 38. Build A Moral Compass • Be truthful about (WMOB) status • Stealing ideas from job candidates • Lying to partners, vendors, suppliers, etc. • Not making payments in a timely fashion • Stringing people along – false promises
  39. 39. • Misleading PR & marketing statements • Knowingly launching dangerous products • Preferential (non- standard) pricing • Falsifying documents • Not returning phone calls Moral Compass
  40. 40. • UniversalismUniversalism: A code of right & wrong that EVERYONE follows • UtilitarianismUtilitarianism: the action that causes the greatest good for the most people is the RIGHT action • Golden RuleGolden Rule: Treat everyone the way I’d want to be treated Key Terms
  41. 41. • Formulate Vision & Mission statements • Develop company values and standards of behavior • Hire ethical people • Deal with ethical people To Ensure Ethical Behavior
  42. 42. Why It’s So Hard to be EthicalWhy It’s So Hard to be Ethical In These Trying TimesIn These Trying Times
  43. 43. • Increased global competition. • The critical importance placed on our quarterly financial performance reporting. • 24x7x365 news reporting cycle. • Social media and the Internet. • No job security. • Tremendous demands made for productivity gains. The Chazin GroupThe Chazin GroupThese Trying Times
  44. 44. How NOT to ActHow NOT to Act
  45. 45. Hall of ShameHall of Shame
  46. 46. Unethical BehaviorUnethical Behavior Surrounds UsSurrounds Us
  47. 47. • Extended unpaid internships. • Plagiarism. • Lying on your taxes, resumes. • Falsifying professional credentials. • Construction companies ignoring codes, taking shortcuts. • Mortgage robo-signings. The Chazin GroupThe Chazin GroupUnethical Behavior
  48. 48. • Producing/marketing dangerous products. • Legalized gambling. • Police misconduct. • Accepting bribes. • Piracy. • Vulture Capitalists. • False/inaccurate job postings. The Chazin GroupThe Chazin GroupUnethical Behavior
  49. 49. • Division I College athletics as big- time sports. • Identity theft. • Teacher-student sexual relationships. • Rampant hypocrisy. • Pedophilia. The Chazin GroupThe Chazin GroupUnethical Behavior
  50. 50. Does The WorkplaceDoes The Workplace Breed UnethicalBreed Unethical Behavior?Behavior? The Chazin GroupThe Chazin GroupFOR DISCUSSION
  51. 51. • Discrimination • Sexism (Glass Ceiling) • Cronyism • Office Politics The Chazin GroupThe Chazin GroupThe Workplace
  52. 52. Guidelines Do ExistGuidelines Do Exist
  53. 53. • Sarbanes-Oxley (2002) • Stock Exchange Standards (2003) • McNulty version of Principles of Prosecution (2006) • U.S. Sentencing Commission The Chazin GroupThe Chazin GroupGovernment Guidelines
  54. 54. Socially ConsciousSocially Conscious CompaniesCompanies
  55. 55. Social EntrepreneurshipSocial Entrepreneurship
  56. 56. ResourcesResources