ethics is a necessary element for any entrepreneur to start up his own business, this document will put on some light on modern-day entrepreneurship practices and ethics
Creativity and innovation in entrepreneurshipKunal Singh
Creativity involves generating new ideas, innovation is implementing those ideas, and entrepreneurship combines both. Creativity thrives on flexibility, originality, and idea generation. The innovation process takes creativity further by developing ideas into useful new products, services, and processes. Entrepreneurs play a key role in innovation by recognizing opportunities, mobilizing resources, and commercializing new ideas to create value for customers and economic growth.
This document discusses the evolution of entrepreneurship and top business families in Pakistan. It traces the development of entrepreneurship from the 1950s during Ayub Khan's rule, which led to the rise of prominent business families. Some key business families mentioned include the Mansha, Habib, Saigal, Dewan, and Hashwani families. It also discusses some prominent women entrepreneurs like Uzma Gul, Ayesha Zeenat, and Robina Jamil who have started successful businesses in Pakistan despite challenges. The document outlines the history of entrepreneurship and policies in Pakistan that have impacted the business landscape.
This document discusses ethics and entrepreneurship. It defines ethics as moral principles that guide judgments about right and wrong. Ethics provide basic rules for acceptable conduct. While laws define what is illegal, ethics outline what is considered right versus wrong. Many businesses develop codes of ethics to guide employee decisions. A code of ethics commonly focuses on honesty, integrity, respect, trust, responsibility, and good citizenship. Being socially responsible and giving back to communities is now expected of businesses. Upholding strong ethics can help a business succeed through excellence rather than unethical actions.
The document outlines the 5 key stages in the entrepreneurial process:
1) Discovery - generating business ideas and recognizing opportunities
2) Concept Development - creating a business plan and choosing a location
3) Resourcing - identifying financial, human, and capital resources for startup
4) Actualization - operating the business and utilizing resources to achieve goals
5) Harvesting - deciding on the business's future growth, development or demise
Business Ethics and Corporate Social Responsibility MEKUANINT ABERA
This seminar presentation discusses business ethics and corporate social responsibility with case studies of Coca-Cola and the Tata Group. It introduces the concepts of business ethics and CSR, outlines their importance, and describes the CSR models and initiatives of Coca-Cola and Tata in areas like water, energy, health, communities and economic development. It also discusses some obstacles faced by Coca-Cola and their responses. The presentation concludes that many businesses are actively engaging in CSR to improve people's livelihoods.
The document discusses business ethics, defining it as the examination of moral principles in a business context. It applies to all aspects of business conduct for individuals and entire organizations. The document outlines 12 key principles of business ethics including honesty, integrity, fairness, concern for others, and accountability. It also discusses the scope of business ethics in various business functions such as compliance, finance, human resources, marketing, production, and intellectual property rights.
This document discusses corporate entrepreneurship, defining it as activities that receive organizational sanction and resource commitments for innovative results. It also discusses the need for corporate entrepreneurship due to factors like increased competition and the benefits it provides like constantly innovating. The key aspects of corporate entrepreneurship discussed are innovation, strategy, and corporate venturing. Innovation can be radical or incremental. Strategy involves developing an entrepreneurial vision and structure. Corporate venturing aims to institutionalize embracing innovation for long term growth. Overall the document provides an overview of the concept and key elements of corporate entrepreneurship.
Creativity and innovation in entrepreneurshipKunal Singh
Creativity involves generating new ideas, innovation is implementing those ideas, and entrepreneurship combines both. Creativity thrives on flexibility, originality, and idea generation. The innovation process takes creativity further by developing ideas into useful new products, services, and processes. Entrepreneurs play a key role in innovation by recognizing opportunities, mobilizing resources, and commercializing new ideas to create value for customers and economic growth.
This document discusses the evolution of entrepreneurship and top business families in Pakistan. It traces the development of entrepreneurship from the 1950s during Ayub Khan's rule, which led to the rise of prominent business families. Some key business families mentioned include the Mansha, Habib, Saigal, Dewan, and Hashwani families. It also discusses some prominent women entrepreneurs like Uzma Gul, Ayesha Zeenat, and Robina Jamil who have started successful businesses in Pakistan despite challenges. The document outlines the history of entrepreneurship and policies in Pakistan that have impacted the business landscape.
This document discusses ethics and entrepreneurship. It defines ethics as moral principles that guide judgments about right and wrong. Ethics provide basic rules for acceptable conduct. While laws define what is illegal, ethics outline what is considered right versus wrong. Many businesses develop codes of ethics to guide employee decisions. A code of ethics commonly focuses on honesty, integrity, respect, trust, responsibility, and good citizenship. Being socially responsible and giving back to communities is now expected of businesses. Upholding strong ethics can help a business succeed through excellence rather than unethical actions.
The document outlines the 5 key stages in the entrepreneurial process:
1) Discovery - generating business ideas and recognizing opportunities
2) Concept Development - creating a business plan and choosing a location
3) Resourcing - identifying financial, human, and capital resources for startup
4) Actualization - operating the business and utilizing resources to achieve goals
5) Harvesting - deciding on the business's future growth, development or demise
Business Ethics and Corporate Social Responsibility MEKUANINT ABERA
This seminar presentation discusses business ethics and corporate social responsibility with case studies of Coca-Cola and the Tata Group. It introduces the concepts of business ethics and CSR, outlines their importance, and describes the CSR models and initiatives of Coca-Cola and Tata in areas like water, energy, health, communities and economic development. It also discusses some obstacles faced by Coca-Cola and their responses. The presentation concludes that many businesses are actively engaging in CSR to improve people's livelihoods.
The document discusses business ethics, defining it as the examination of moral principles in a business context. It applies to all aspects of business conduct for individuals and entire organizations. The document outlines 12 key principles of business ethics including honesty, integrity, fairness, concern for others, and accountability. It also discusses the scope of business ethics in various business functions such as compliance, finance, human resources, marketing, production, and intellectual property rights.
This document discusses corporate entrepreneurship, defining it as activities that receive organizational sanction and resource commitments for innovative results. It also discusses the need for corporate entrepreneurship due to factors like increased competition and the benefits it provides like constantly innovating. The key aspects of corporate entrepreneurship discussed are innovation, strategy, and corporate venturing. Innovation can be radical or incremental. Strategy involves developing an entrepreneurial vision and structure. Corporate venturing aims to institutionalize embracing innovation for long term growth. Overall the document provides an overview of the concept and key elements of corporate entrepreneurship.
The document discusses definitions and characteristics of entrepreneurs and entrepreneurship from various scholars and perspectives. It defines entrepreneurs as innovators who recognize opportunities, take risks to start new business ventures, and realize rewards. Successful entrepreneurs have qualities like initiative, willingness to take risks, ability to learn from mistakes, self-confidence, motivation towards hard work, and ability to make timely decisions. Entrepreneurship is the process undertaken by entrepreneurs to establish new enterprises through creative innovation.
Entrepreneurship Development Unit 1 (SVCET)Amit Sarkar
The document defines key terms related to entrepreneurship:
- An entrepreneur is an individual who takes risks and starts something new by identifying opportunities, gathering resources, and being responsible for an organization's performance.
- Entrepreneurship refers to the process of an entrepreneur establishing an enterprise through creative innovation in response to needs or problems.
- Common qualities of successful entrepreneurs include being visionary, willing to take risks, having leadership and management skills, and working hard.
Business ethics is a branch of social science that deals with moral principles and values in business situations. It helps classify what is good and bad, and tells businesses to do good things and avoid harm. Business ethics provides a framework for conducting business within social, cultural, economic and legal limits. It is based on concepts like self-control, consumer protection, fair treatment, and not exploiting others. While business ethics should be voluntary, education and guidance are needed for its effective implementation.
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
Presentation on Corporate Entrepreneurship, its strategies. Intrapreneurship & Leaders of such culture in market. Case Study of Google and its successful products and innovations.
Business incubators help startup companies develop by providing services like management training, office space, and access to financing. The first business incubator was established in 1959 in New York. Incubators can be virtual, focused on industries like food or healthcare, or run by larger companies or studios developing multiple companies. They progress from providing physical space to offering networking and support services. Indian incubators include CIIE IIMA, IAN, SINE, and STEP, which help entrepreneurs with basics, networking, marketing, research, and accessing loans.
Business ethics deals with applying principles of morality and values to business activities. It helps establish a framework of conduct for businesses through codes of conduct, protection of social groups, and guidance. Maintaining business ethics provides advantages to all stakeholders by improving consumer confidence, creating a good company image, and ensuring fair treatment of employees, consumers, and society. Upholding business ethics is essential for the long-term success and reputation of a company.
The document discusses entrepreneurship and introduces key concepts:
1) Entrepreneurship is creating something new of value by devoting time and effort while accepting risks and potential rewards.
2) An entrepreneur actively starts and leads their own business to grow and prosper by recognizing opportunities and managing resources.
3) Entrepreneurship can lead to innovation, job creation, and economic growth through organizing resources and creating new products/services.
Entrepreneurship introduction , concept , need , growth &innovation RTU btech Ambuj Tak
this is for student of CS engineering of RTU who want to prepare their PPT for 4th sem
it may help the MBA student too and its a motivational for beginner entrepreneur :)
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTSMAHUA MUKHERJEE
UNDER CALCUTTA UNIVERSITY CBCS PATTERN B.COM STUDENTS WILL FIND AN ADDITIUONAL TO THEIR CHAPTERS. PURENTS OF ENTRPRENEURSHIP PROGRAMMES CAN ALSO GAIN KNOWLEDGE FROM THIS
CONCEPT OF ENTRPRENEUR ; TYPES OF ENTRPRENEURS CREATIVITY AND INNOVATION
There are several ways to classify types of entrepreneurs based on factors like the type of business, use of technology, ownership structure, gender, size of enterprise, and behavior. Some of the main types include trading entrepreneurs, manufacturing entrepreneurs, agricultural entrepreneurs, technical entrepreneurs, non-technical entrepreneurs, private entrepreneurs, state entrepreneurs, joint entrepreneurs, men entrepreneurs, women entrepreneurs, small-scale entrepreneurs, medium-scale entrepreneurs, large-scale entrepreneurs, solo operators, active partners, inventors, challengers, buyers, and life-timers. An entrepreneur is ultimately someone who creates a product or service that people will buy by building an organization to support sales of that product or service.
This document outlines entrepreneurship topics including definitions, importance, traits, types, and processes. It defines entrepreneurship as establishing or improving something to benefit individuals and society. An entrepreneur organizes and operates businesses, taking initiative and risk. Key points include that entrepreneurship creates jobs, drives innovation, and enhances living standards. The document also discusses the traits of successful entrepreneurs, types like producing and investing, and the typical process of discovery, planning, resourcing, managing, and harvesting. It covers risks such as market risks, and barriers including economic, social, and personal challenges. Areas of application for entrepreneurship in healthcare are discussed like medical technology, electronic health records, telemedicine, and building hospitals.
This document discusses entrepreneurship and the various perspectives and schools of thought regarding entrepreneurship. It defines entrepreneurs as individuals who recognize opportunities, convert them into marketable ideas through investment of time, effort, money and skills, and assume risks in commercializing innovations. The document explores how entrepreneurs have evolved over time and influenced economic and technological changes. It also examines different types of entrepreneurs and the various pathways one can take to pursue entrepreneurship.
This document discusses the role of entrepreneurship in economic development. It defines entrepreneurship as setting up a business or becoming self-employed. Entrepreneurs play key roles in economic development by promoting capital formation, creating employment opportunities, and stimulating balanced regional growth. They help increase gross national product, per capita income, and standards of living. Entrepreneurs also induce backward and forward linkages between industries and facilitate overall economic development. The conclusion states that entrepreneurship development depends on factors like the economic, social, political, and cultural environment.
Entrepreneur development
External allaences for international business
Presentations By Rajendran Ananda Krishnan, https://www.facebook.com/ialwaysthinkprettythings
The document discusses business ethics and why they are important for companies. It provides three key reasons why business ethics are important:
1) Stakeholders have higher expectations of how a company conducts its activities and failing to meet these expectations can damage a company's reputation.
2) Poor ethical conduct can negatively impact areas like employee morale, recruitment, media perception, and increased regulation.
3) Recent investigations into unethical behavior at global companies have severely damaged their reputations, showing that maintaining high ethical standards is important for peace of mind and reducing costs.
Role of entrepreneurs in economic developmentShanson Shaji
Entrepreneurs play a key role in the economic development of a country by mobilizing idle savings, creating employment opportunities, promoting regional development, reducing concentration of economic power, stimulating equitable redistribution of wealth, encouraging resource utilization, inducing backward and forward linkages, and promoting export trade. They serve as catalysts for economic growth and development.
Introduction, features of women entrepreneurship, why women become entrepreneurs, qualities, tips for women entrepreneurs, facilitating factors, opportunities, challenges, problems, remedial measures, steps taken by government, training programs, supporting agencies and about some famous women entrepreneurs
Entrepreneurship & New Venture Creation-(3.1)-Module-1VisualBee.com
The document discusses entrepreneurship and what is required to create successful entrepreneurs in India. It defines entrepreneurs as individuals who undertake risks to start new businesses. It outlines four key areas needed to develop entrepreneurs in India: creating the right environment for success, ensuring access to relevant skills, access to startup capital, and networking opportunities. The future of entrepreneurship in India is promising as both central and state governments are increasingly supporting new business creation through incentives and infrastructure development.
Examine the concepts of the social entrepreneur and the social business
Explore the mind-set of social entrepreneurs
Introduce the concept of ecopreneurship
Define the term ethics and the implications for entrepreneurs
Examine environmental crime and its temptations for entrepreneurs
Examine cross-cultural concepts of ethics and corruption
Examine the ethics of criminal entrepreneurs and their similarities to other entrepreneurs
Focus on the challenges that face disadvantaged entrepreneurs
Civic entrepreneurs are helping communities cooperate and compete in the information age by forging new connections across different sectors. These entrepreneurs help communities collaborate, organize their economic assets, and build productive relationships to benefit the community. Civic entrepreneurs work tirelessly on important issues and continue working overtime, which is a trait that allows them to provide continuity in their work.
The document provides an overview of entrepreneurship and entrepreneurs. It defines entrepreneurs as individuals who identify business opportunities, take risks to establish new businesses, and manage businesses to be profitable and successful. Entrepreneurs benefit the economy and society by developing new products/services and enhancing economic development. Qualities of successful entrepreneurs include creativity, innovation, risk-taking ability, and using resources to capitalize on opportunities. The document also discusses e-business and cyberpreneurs, who start internet-based businesses that can reach global customers online without physical offices.
The document discusses definitions and characteristics of entrepreneurs and entrepreneurship from various scholars and perspectives. It defines entrepreneurs as innovators who recognize opportunities, take risks to start new business ventures, and realize rewards. Successful entrepreneurs have qualities like initiative, willingness to take risks, ability to learn from mistakes, self-confidence, motivation towards hard work, and ability to make timely decisions. Entrepreneurship is the process undertaken by entrepreneurs to establish new enterprises through creative innovation.
Entrepreneurship Development Unit 1 (SVCET)Amit Sarkar
The document defines key terms related to entrepreneurship:
- An entrepreneur is an individual who takes risks and starts something new by identifying opportunities, gathering resources, and being responsible for an organization's performance.
- Entrepreneurship refers to the process of an entrepreneur establishing an enterprise through creative innovation in response to needs or problems.
- Common qualities of successful entrepreneurs include being visionary, willing to take risks, having leadership and management skills, and working hard.
Business ethics is a branch of social science that deals with moral principles and values in business situations. It helps classify what is good and bad, and tells businesses to do good things and avoid harm. Business ethics provides a framework for conducting business within social, cultural, economic and legal limits. It is based on concepts like self-control, consumer protection, fair treatment, and not exploiting others. While business ethics should be voluntary, education and guidance are needed for its effective implementation.
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
Presentation on Corporate Entrepreneurship, its strategies. Intrapreneurship & Leaders of such culture in market. Case Study of Google and its successful products and innovations.
Business incubators help startup companies develop by providing services like management training, office space, and access to financing. The first business incubator was established in 1959 in New York. Incubators can be virtual, focused on industries like food or healthcare, or run by larger companies or studios developing multiple companies. They progress from providing physical space to offering networking and support services. Indian incubators include CIIE IIMA, IAN, SINE, and STEP, which help entrepreneurs with basics, networking, marketing, research, and accessing loans.
Business ethics deals with applying principles of morality and values to business activities. It helps establish a framework of conduct for businesses through codes of conduct, protection of social groups, and guidance. Maintaining business ethics provides advantages to all stakeholders by improving consumer confidence, creating a good company image, and ensuring fair treatment of employees, consumers, and society. Upholding business ethics is essential for the long-term success and reputation of a company.
The document discusses entrepreneurship and introduces key concepts:
1) Entrepreneurship is creating something new of value by devoting time and effort while accepting risks and potential rewards.
2) An entrepreneur actively starts and leads their own business to grow and prosper by recognizing opportunities and managing resources.
3) Entrepreneurship can lead to innovation, job creation, and economic growth through organizing resources and creating new products/services.
Entrepreneurship introduction , concept , need , growth &innovation RTU btech Ambuj Tak
this is for student of CS engineering of RTU who want to prepare their PPT for 4th sem
it may help the MBA student too and its a motivational for beginner entrepreneur :)
INTRODUCTION TO ENTREPRENEURSHIP DEVELOPMENT WITH ITS BASIC CONCEPTSMAHUA MUKHERJEE
UNDER CALCUTTA UNIVERSITY CBCS PATTERN B.COM STUDENTS WILL FIND AN ADDITIUONAL TO THEIR CHAPTERS. PURENTS OF ENTRPRENEURSHIP PROGRAMMES CAN ALSO GAIN KNOWLEDGE FROM THIS
CONCEPT OF ENTRPRENEUR ; TYPES OF ENTRPRENEURS CREATIVITY AND INNOVATION
There are several ways to classify types of entrepreneurs based on factors like the type of business, use of technology, ownership structure, gender, size of enterprise, and behavior. Some of the main types include trading entrepreneurs, manufacturing entrepreneurs, agricultural entrepreneurs, technical entrepreneurs, non-technical entrepreneurs, private entrepreneurs, state entrepreneurs, joint entrepreneurs, men entrepreneurs, women entrepreneurs, small-scale entrepreneurs, medium-scale entrepreneurs, large-scale entrepreneurs, solo operators, active partners, inventors, challengers, buyers, and life-timers. An entrepreneur is ultimately someone who creates a product or service that people will buy by building an organization to support sales of that product or service.
This document outlines entrepreneurship topics including definitions, importance, traits, types, and processes. It defines entrepreneurship as establishing or improving something to benefit individuals and society. An entrepreneur organizes and operates businesses, taking initiative and risk. Key points include that entrepreneurship creates jobs, drives innovation, and enhances living standards. The document also discusses the traits of successful entrepreneurs, types like producing and investing, and the typical process of discovery, planning, resourcing, managing, and harvesting. It covers risks such as market risks, and barriers including economic, social, and personal challenges. Areas of application for entrepreneurship in healthcare are discussed like medical technology, electronic health records, telemedicine, and building hospitals.
This document discusses entrepreneurship and the various perspectives and schools of thought regarding entrepreneurship. It defines entrepreneurs as individuals who recognize opportunities, convert them into marketable ideas through investment of time, effort, money and skills, and assume risks in commercializing innovations. The document explores how entrepreneurs have evolved over time and influenced economic and technological changes. It also examines different types of entrepreneurs and the various pathways one can take to pursue entrepreneurship.
This document discusses the role of entrepreneurship in economic development. It defines entrepreneurship as setting up a business or becoming self-employed. Entrepreneurs play key roles in economic development by promoting capital formation, creating employment opportunities, and stimulating balanced regional growth. They help increase gross national product, per capita income, and standards of living. Entrepreneurs also induce backward and forward linkages between industries and facilitate overall economic development. The conclusion states that entrepreneurship development depends on factors like the economic, social, political, and cultural environment.
Entrepreneur development
External allaences for international business
Presentations By Rajendran Ananda Krishnan, https://www.facebook.com/ialwaysthinkprettythings
The document discusses business ethics and why they are important for companies. It provides three key reasons why business ethics are important:
1) Stakeholders have higher expectations of how a company conducts its activities and failing to meet these expectations can damage a company's reputation.
2) Poor ethical conduct can negatively impact areas like employee morale, recruitment, media perception, and increased regulation.
3) Recent investigations into unethical behavior at global companies have severely damaged their reputations, showing that maintaining high ethical standards is important for peace of mind and reducing costs.
Role of entrepreneurs in economic developmentShanson Shaji
Entrepreneurs play a key role in the economic development of a country by mobilizing idle savings, creating employment opportunities, promoting regional development, reducing concentration of economic power, stimulating equitable redistribution of wealth, encouraging resource utilization, inducing backward and forward linkages, and promoting export trade. They serve as catalysts for economic growth and development.
Introduction, features of women entrepreneurship, why women become entrepreneurs, qualities, tips for women entrepreneurs, facilitating factors, opportunities, challenges, problems, remedial measures, steps taken by government, training programs, supporting agencies and about some famous women entrepreneurs
Entrepreneurship & New Venture Creation-(3.1)-Module-1VisualBee.com
The document discusses entrepreneurship and what is required to create successful entrepreneurs in India. It defines entrepreneurs as individuals who undertake risks to start new businesses. It outlines four key areas needed to develop entrepreneurs in India: creating the right environment for success, ensuring access to relevant skills, access to startup capital, and networking opportunities. The future of entrepreneurship in India is promising as both central and state governments are increasingly supporting new business creation through incentives and infrastructure development.
Examine the concepts of the social entrepreneur and the social business
Explore the mind-set of social entrepreneurs
Introduce the concept of ecopreneurship
Define the term ethics and the implications for entrepreneurs
Examine environmental crime and its temptations for entrepreneurs
Examine cross-cultural concepts of ethics and corruption
Examine the ethics of criminal entrepreneurs and their similarities to other entrepreneurs
Focus on the challenges that face disadvantaged entrepreneurs
Civic entrepreneurs are helping communities cooperate and compete in the information age by forging new connections across different sectors. These entrepreneurs help communities collaborate, organize their economic assets, and build productive relationships to benefit the community. Civic entrepreneurs work tirelessly on important issues and continue working overtime, which is a trait that allows them to provide continuity in their work.
The document provides an overview of entrepreneurship and entrepreneurs. It defines entrepreneurs as individuals who identify business opportunities, take risks to establish new businesses, and manage businesses to be profitable and successful. Entrepreneurs benefit the economy and society by developing new products/services and enhancing economic development. Qualities of successful entrepreneurs include creativity, innovation, risk-taking ability, and using resources to capitalize on opportunities. The document also discusses e-business and cyberpreneurs, who start internet-based businesses that can reach global customers online without physical offices.
INTRODUCTION TO ENTREPRENEURSHIP AND ITS SCOPE.pptCleofeMaghinay3
The document provides an overview of entrepreneurship and entrepreneurs. It defines entrepreneurs as individuals who identify business opportunities, take risks to establish new businesses, and manage businesses to be profitable and successful. Entrepreneurs benefit the economy and society by developing new products/services and enhancing economic development. Qualities of successful entrepreneurs include creativity, innovation, risk-taking ability, and using resources to capitalize on opportunities. The document also discusses e-business and cyberpreneurs, who start internet-based businesses that can target global customers without physical offices.
The document provides an introduction to the topic of entrepreneurship. It defines entrepreneurship and entrepreneurs. An entrepreneur is defined as an individual who establishes a business to introduce a new product or service and assumes the financial risks involved. Entrepreneurship is the process of identifying business opportunities and creating an organization to capitalize on those opportunities. Successful entrepreneurs possess traits like creativity, risk-taking ability, and motivation to achieve goals. E-business, or conducting business online, allows entrepreneurs to reach a global customer base and reduces some costs.
TLE 504 - Introduction to Entrepreneurship.pptxMendozaPatrice
There are people around the world who are unaware of their entrepreneurial potential. It is because, an entrepreneurial capacity is not innate in every person but has to be developed. Not all human being is born to become an entrepreneur or to engage in entrepreneurship. To become one of them, the education of a person should not be impeded or hindered by being financially-handicapped. It requires an initiative and the values of resourcefulness and self-determination. Through these, the person could find the opportunities for supports to develop his/her own competencies to think and innovate. These abilities can be noted on the persons that are not contented of what they do but, to keep on thinking. In fact, there are public servants who resign from government service and engage on entrepreneurial activities. They want to exploit their full potentials and became successful in business. Unlike in government service, it is in entrepreneurship where some people became successful in life. Because of their innovative, they could immediately implement what they thought and seek government supports when necessary. Entrepreneurship can be considered a national asset, and entrepreneurs are the drivers of that asset for any country. It is a dynamic process that not only increases wealth and but can also create value that results in improved well-being. It plays an important role in changing society, so it makes sense to cultivate, motivate, and remunerate this greatest asset to the greatest extent possible (Mohamed, 2020). Universities, being a brewing spot for knowledge spillover (Audretsch and Caiazza, 2016), are considered as an engine to improve economic growth by developing potential entrepreneurs (Lackéus, 2015; Ward et al., 2019). Entrepreneurial potential is a useful concept because not only it encompasses the degree in which an individual possesses entrepreneurial-related qualities, but also accounts for entrepreneurial intentions, or the state of mind of determination to act toward creating business. Intentions are particularly meaningful because they have a reasonably high prediction power of actual behavior (Krueger, 2017; Ward et al., 2019), and it is a good proxy to overview the short-term future of business activity. Hence, teachers are introduced to the concepts and theories of entrepreneurship, including some factors that drive entrepreneurship. While the topic requires more understanding, it is also necessary for the teachers that they be capacitated to become an entrepreneur as their additional tools in the delivery of service to communities.
This document provides an overview of entrepreneurship including definitions, types of entrepreneurs, and roles of entrepreneurs. It defines entrepreneurship as exploiting business opportunities that exist within the scope of the market. The four main types of entrepreneurs discussed are innovative, imitating, fabian, and drone entrepreneurs. Entrepreneurs fulfill economic, social, and technological change roles. Later sections discuss developing an entrepreneurial mindset and how entrepreneurship can drive social and economic change.
Entrepreneurial Management / Entrepreneurship Development NotesBilal's Academy
Entrepreneurial Management / Entrepreneurship Development Complete Notes
Contents
1. Introduction to Entrepreneurship
2. Small Scale Industries
3. Starting a Small Industry
4. Preparing the Business Plan
5. Implementation of a project and Industrial Sickness
Entrepreneurs are one of the reason for countries economic growth. They have brought a massive positive contributions to the nations financial development and social advancement. Entrepreneurs play an important role in bringing in economic changes and advancements to a country's economy. Among the contributions are such as innovation and job creation. As entrepreneurship is synonymous with self employed, it is believed to be an effective procedure in dealing with the issue of employability, especially among the young people. In the dynamic society, the entrepreneurs predict the future and smell the undesirable consequences well in advance and at the same time they identify the business opportunities. The first step for a successful entrepreneur is to predict the future with all accuracy. The purpose of present study is to find out what exactly makes a successful entrepreneur. Che Mohd Zulkifli Che Omar ""What Makes a Successful Entrepreneur"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25154.pdf
Paper URL: https://www.ijtsrd.com/management/business-economics/25154/what-makes-a-successful-entrepreneur/che-mohd-zulkifli-che-omar
The document discusses the development of entrepreneurship theory from the 18th to 19th centuries. It mentions key theorists like Richard Cantillon, Jean Baptiste Says, and Joseph Schumpeter who contributed important concepts. It also defines what an entrepreneur is, lists their characteristics, and discusses the functions and essentials of entrepreneurship. The entrepreneurial process and components of entrepreneurship like opportunities, resources, and outputs are outlined.
The document discusses different types of entrepreneurship including small business entrepreneurship, large company entrepreneurship, social entrepreneurship, scalable startups, hustler entrepreneurship, innovative entrepreneurship, and imitative entrepreneurship. It also discusses characteristics of entrepreneurs such as being versatile, flexible, money savvy, resilient, focused, business smart, and good communicators. Some challenges entrepreneurs face are also mentioned such as securing funding, managing cash flow, developing new ideas, and dealing with failure.
This document discusses challenges and opportunities for entrepreneurs and small business owners in India. It outlines several challenges Indian entrepreneurs face, including lack of capital, high inflation, lack of family support, political instability, lack of skills/knowledge, and heavy regulation. However, it also notes opportunities for entrepreneurs such as unlimited income potential, becoming their own boss, and contributing to the country's economic development. The document provides context on the meaning of entrepreneurship and importance for a nation's industrial development.
The chapter aims to provide an understanding of business ethics and its importance. It discusses establishing moral standards and values for businesses. A business founded on strong ethics is more likely to succeed than one focused only on rapid growth. Business ethics overlaps with a company's purpose and philosophy. While profit is important, businesses should pursue it through sincere means that consider ethics. A leader's personal ethics can influence an organization's culture and help it endure challenges.
Business ethics and social responsibilitychimecheng
Business ethics examines the morality of business practices and decisions. While profit is important, businesses also have responsibilities to customers, employees, and society. The profit motive can encourage productivity but also rivalry and a narrow focus on money over other concerns. Overall, business ethics provides a framework for resolving dilemmas between moral and legal obligations in a way that promotes the common good.
The document discusses 12 types of business ethics that companies aim to uphold: transparency, integrity, trustworthiness, loyalty, equality, compassion, respect, excellence, responsibility, accountability, reputation upholding, and lawfulness. It provides examples of how companies can demonstrate each ethical value, such as through open communication, fair treatment of employees and customers, high-quality products and services, and legal compliance. Maintaining strong business ethics helps companies build trust, motivate employees, and achieve long-term success and growth.
Business ethics studies policies regarding controversial topics like corporate governance, insider trading, and discrimination. There are 12 main types of business ethics: transparency, integrity, trustworthiness, loyalty, equality, compassion, respect, excellence, responsibility, accountability, reputation upholding, and lawfulness. These ethics help build trust with stakeholders, foster employee loyalty and motivation, promote non-discrimination and equality, and ensure companies comply with relevant laws.
This document discusses business ethics and the relationship between business and morality. It defines business as an organization that provides goods and services to consumers, while ethics is the study of morality and concepts like right and wrong. The document states that business is part of human society and its activities must be viewed through an ethical lens. It discusses common myths about business ethics, such as the idea that ethics is a personal matter or that ethics and business do not mix. The document also examines the morality of profit-making in business and how ethics provides guidelines to ensure profits are earned responsibly and consider stakeholders. Overall, it argues that ethics is crucial for business to ensure its activities promote the common good and long-term survival of society.
This document provides an overview of entrepreneurship and business concepts for an A-Level Business Studies course. It defines key terms like business, management, entrepreneur, and enterprise. It describes characteristics of successful entrepreneurs like initiative, hard work, resilience, and risk-taking. It also discusses reasons why people become entrepreneurs such as independence, higher rewards, and commitment to a product or idea. Finally, it examines leadership styles like autocratic leadership and when it may or may not be effective.
This document provides an introduction to business ethics. It discusses how ethics and values are important foundations for any business. While the basic aim of business is profit, companies should not ignore basic ethical principles in their pursuit of profit. The document then provides examples of ethical leadership from companies like Wipro and Infosys to illustrate how strong ethics do not deter business success and can help businesses endure. It also lists some guidelines for managing ethics in the workplace, such as integrating ethics into strategic planning and other management practices. Finally, it describes the history and development of business ethics as a field, tracing discussions of ethical issues in business back to ancient Greek philosophers like Plato and Aristotle.
This document discusses corporate culture and ethics in relation to strategic management. It begins by defining corporate culture as the shared beliefs, values and expectations within an organization that influence employee behavior. It then discusses the importance of business ethics and values, noting they are needed for an organization's survival, protection of consumer rights, and consideration of societal interests. The document also explores how personal values and business ethics impact corporate strategy formulation, with manager's own preferences and priorities potentially influencing strategic decisions and objectives.
This document defines entrepreneurship and describes the key aspects of starting a business. It defines an entrepreneur as someone who organizes a business venture to take advantage of an opportunity. There are different types of entrepreneurs, including idealists, optimizers, hard workers, jugglers, and sustainers. The document also outlines characteristics of successful entrepreneurs like being a hard worker, risk taker, and innovator. It discusses the importance of developing a business model and business plan. A business model shows how a business makes money while a plan provides details on goals, operations, management, and finances.
Explore the key differences between silicone sponge rubber and foam rubber in this comprehensive presentation. Learn about their unique properties, manufacturing processes, and applications across various industries. Discover how each material performs in terms of temperature resistance, chemical resistance, and cost-effectiveness. Gain insights from real-world case studies and make informed decisions for your projects.
1. A PROJECT REPORT ON
“ETHICS & ENTREPRENEURSHIP”
In partial fulfillment of
Integrated Master of Business Administration
Submitted By
Indu Nath Jha
(Semester VI)
CUJ/I/2015/IMBA/14
Submitted To
Mr. S.M. Vipul
Assistant Professor,
Centre for Business
Administration,
Central University of
Jharkhand, Ranchi
2. ETHICS AND ENTREPRENEURSHIP
Entrepreneurship or “establishing and running a new business” is a very trendy and fascinating
career in modern society. It might look like something that comes in trend in recent two or three
decades. But Entrepreneurship is not something which is very new, from a very long period of
time entrepreneurship has shown as a very attractive and fascinating field for all classes of society.
Be it journey of Vasco-de-gama to India or discover of America by Columbus, every journey was
motivated by profit orientation and was basically for trading purpose.
In India also the famous ‘Bali Yatra’ of Orissa can be assumed as an example of ancient
entrepreneurship. From these examples one thing is clear that entrepreneurship is existing form a
very long period of time and is accepted in society. And for something to be survive this much
long, one quality is needed to present in that and that factor is “ETHICS”. Nothing in this can
survive that much long if it is unethical and does not contributes anything in favor of society. So
for any entrepreneur it is necessary to perform ethical practices only and always keep welfare of
society in mind while making decision in business.
For being a successful entrepreneur one must look for all the ethical aspects of entrepreneurship,
in this report we are going to look various factor such as ethics, entrepreneurship, relationship
between ethics and entrepreneurship, importance of ethics in entrepreneurship and ethical &
unethical practices in entrepreneurship.
ENTREPRENEURSHIP
Entrepreneurship can be defined as “The capacity and willingness to develop, organize and
manage a business venture along with any of its risks in order to make a profit. The most common
example of entrepreneurship is the starting of new business.” (Business Dictionary, 2018)
In economics, entrepreneurship combined with Money, Man, Material (resources) and Machinery
leads to profit making activities for an entrepreneur. Innovation and risk-taking ability are major
characteristics of entrepreneurship. And it is considered as an essential part of a nation’s ability to
succeed in dynamic competitive global market.1
1
www.businessdictionary.com/definition/entrepreneurship/html
3. Entrepreneurship is derived from French word “Entreprnede”, a word used in 18th
century in
France that means ‘to undertake’ and was mainly used to describe a ‘manager or promoter of a
theatrical production’. The first used of word ‘entrepreneur’ was seen in a book published in 1755
by Richard Cantillon named ‘Essai sur la Nature du Commerce au General’.
Today word entrepreneur is rapidly evolving and it means different things to different people, but
in whole the word entrepreneur can be defined as someone who has an idea and who works to
create a product or service that people will buy, by building an organization to support those sales.
And entrepreneurship is both the study of how new business are created as well as the process of
starting a new business.2
ETHICS
Ethics can be defined as a tool that determines rightness or wrongness of an action, a philosophy
that deals with law of morality and rules of conduct, an art of controlling means so that they will
serve specifically human ends.
It contain a set of principles of personal & professional conduct, that doesn’t just rest on feelings
of approval or disapproval but also careful examine reality around us. Although ethics is not
something that is related with legislature though it doesn’t permit violation of law. Ethics is
involved in all human activities including business.
According to wheeler, “Business ethics is an art and science for maintaining harmonious
relationship with society, its various group and institution as well as reorganizing the moral
responsibility for rightness and wrongness of business conduct.”
In modern day business, being ethical provides an edge over others, as ethics provide the ability
to assess the benefits and problem associated with different ways of managing ethics in
organization. In the age of complexity in business field competition is increasing day by day, good
ethical standards helps the business to face the challenges.
2
www.shopify.com/encyclopedia/entrepreneurship
4. ETHICS IN ENTREPRENEURSHIP
In the age of neck to neck competitive business market, to operate a business successfully and for
having an edge over others, an entrepreneur must follow certain ethical principles and norms. That
ethical norms not just only helps an entrepreneur to manage ethical dilemmas and problems faced
in daily business but also it helps to retain the business for long period of time.
In modern society business has the potential to provide a major contribution to our society, in terms
of producing product and service that people want, providing employment, paying taxes and acting
as an engine for economic development and thereby increasing goodwill.
There are certain key elements that gives a solid base for an ethical organization: (Matthwes, 2018)
1. Respect
As an entrepreneur starting a business, one need to respect himself and surround
organization with people that one can respect. An entrepreneur should try to not
hire or do business with people he don't respect, or who don't respect him or his
business. Since these are the types of people who ultimately don't respect their
colleagues, customers, vendors, or themselves. Respect is the first and prime most
thing while talking about an ethical business.
2. Honor
For running a business successfully an entrepreneur need a team of some good and
honorable people, good people are a fundamental part of good ethics. A good
enterprise always recognize and give special attention to strong performers and best
achievers of organization. They always show their gratitude to the people who
exhibit exemplary behavior, and who have helped organization to be successful,
and they must be acknowledged and get honored for their contributions publicly,
as well as privately.
3. Integrity
When it comes to integrity, it is impossible to avoid sounding preachy or parental.
Do not lie, steal, or cheat. One should always stand by their promises that they made
to other stakeholders such as customers, shareholders and employees. For making
an ethical enterprise an entrepreneur try to do not hire or retain people who do not
have integrity, Other employees, customers and vendors will not trust them. That
5. lack of trust is like a virus; eventually this lack of trust will lead them to having a
bad impression about organization and lack of trust for both enterprise and
entrepreneur.
4. Customer Orientation
A company is nothing if it does not have customers, in others words, if a company
does not produce what people want and will pay for, there is no point to that
company. Customer oriented service is most vital and important for an
organization, since they are the one who are going to pay for the product or service
an enterprise is producing, hence serving all of these people is part of ethical
responsibility of an organization. Compromising with customer’s right will not
only risks compromising ethics, it also risks the long-term health of the enterprise.
5. Result Oriented
An entrepreneur is not called entrepreneur if he hasn't focused on results already,
but consider ethics factor into results too. A succesful entrepreneur don't aim for
results at any cost. One should work on achieving the results within company
values. Results should be attained in the context of developing something that
customers want, and producing and delivering it at a price that is fair to all the
parties involved. In a good enterprise results are more than just numbers, they are
benchmarks and lessons for the future as well as goals for the present.
6. Risk taking Ability
Risk taking ability is one the key quality of an entrepreneur. Good organizations
are thrive, prosper and grow do so taking risks. They do not stick to the safe path.
Great companies innovate, they think "out of the box", and they try new things.
They re-invent themselves and they reward the risk-takers. As long as one stick to
his philosophical guns, risk-taking poses no threat to organizational ethics. Great
companies attract employees who are willing to take risks, and they encourage,
support and reward them for taking calculated risks.
7. Passion
Great organizations are comprised of people who have a passion for their task and
job profile. The role model of these employees are those people who are willing to
take the thrill and challenge of problems and who are not just working for a mere
6. salary slip. This people are excited, driven, and believe that their work and efforts
can make a difference. Without the passion burning within them, people put in a
minimal effort, getting paid and going home and this is not what an emerging firm
want from their employees.
8. Persistence
People in great organizations have the will to persist. They will keep working even
when results are not what they hoped, or when customers refuse to buy. Their
persistence is tied to their passion for what they are doing and a belief that this
group of people, this company, has the best chance of "making it" of any company
they could join. And so, they work harder, they continue to take risks. They behave
with honor and integrity. They keep their focus on the customer's needs and wants.
And, they are not satisfied until they achieve the goals and results that are expected.
And the leader, need to put a lot of time and effort into hiring people who share
these values3
On the basis of these parameters an enterprise can be identify as an ethical enterprise, however
there are various other dimensions that one entrepreneur should fulfill such as maintaining good
and pleasant relationship with stakeholders, providing volunteer are non-profit oriented service to
society and to get engage in some kind of CSR (Corporate Social Responsibility) activities. After
all it’s the society who is providing all the elements required for business such as land, labor, raw
material and other natural resources to an entrepreneur.
Thus it is responsibility of an entrepreneur to serve society in a fair and just way and to get involve
in ethical practices only. Although some unethical ways looks like a shortcut to achieve goals of
organizational as well as personal, though in a long run those shortcut leads to failure only.
UNETHICAL PRACTICES IN ENTREPRENEURSHIP
Act of dishonesty or deception through business has been existing from a long time in society, so
seeing evidences in modern day entrepreneurship is not something that is surprising. Although it
is right for an enterprise to get involve in ethical activities or to avoid doing anything wrong in
3
https://www.entrepreneurship.org/articles/2002/12/eight-elements-of-an-ethical-organization
7. business, though in modern business scenario enterprises give priority to maximizing profit over
ethical norms and get involved in unethical practices.
According to a poll survey by IBM, Almost two-thirds of 100 venture capital (VC) investors 64%
polled claim performing ‘unethical business conduct’. The IBM report cited misreporting of
financial and other data, misrepresentation of financial plans or achievements, and ignorance of
regulatory requirements as factors of unethical business conduct. (economic times, 2017)
In today business world where business is dynamic in nature, there are many enterprises that takes
unethical shortcuts to overcome others. There are so many ways by which a firm performs
unethical activities, such as:
Publish wrong or false report of financial and other data
Misrepresentation of financial plans and other achievement
Ignoring various factors such as government norms, regulatory policy and other legislative
policies.
Blind and over depletion of natural resources and ignoring environmental policies.
In business, there is a probe saying that ‘Customer is king’ but there are many enterprises that
cheats customer by making false promises and not delivering what customers are pay for. And
nothing is more unethical than cheating your customers. If an entrepreneur is playing with rights
of customer, makes false promises and is involve in other unethical activities then one thing is sure
that he is going to face severe consequences in future.
STAYZILLA: Case of a close succesful startup
Stayzilla was a startup by a young Indian entrepreneur “Yogendra Vasupal” and his team. It was
started as an online service provider for booking hotels named “Insara” but soon in 2010 get
morphed into a complete hotel aggregator and renamed as “Stayzilla”
In 2017 one of Stayzilla’s vendor Jigsaw Advertising, a Chennai based advertisement agency
filed a case against owner of Stayzilla claiming that they were unpaid dues to the tune of Rs. 1.5
Crore.
8. Vasupal, in a blog post, argued the claims made by the advertisement agency and sought legal
recourse. His blog claimed that there were bogus complaints framed against him.
Stayzilla had suspended its operations in February after a sustained struggle. Stayzilla, once seen
as a leading player in the home-stay aggregator space, had received $34 million in venture capital.
On June 19, 2017 the founder of stayzilla, Yogendra aka Yogi got arrested, afterwards the company
has announced the shutdown of the company.4
On the BlogSpot of Yogi, he described various reason for failure but on the looking as whole case
it seems as a case of wrong financial decision of owner and misuse of assets as well as capital of
firm.
Company Name: Stayzilla
Launched in: 2005
Founders: Yogendra Vasupal (Yogi), Rupal Yogendra, Sachit Singhi
Category: Hotel aggregator Headquarters: Bengaluru
Brief Outline: The founders initially launched the platform as an online travel agency for hotel
bookings named as “Inasra”. Later, they renamed the platform to “Stayzilla” and pivoted to a
hotel aggregator model in 2010.
Funding: Stayzilla raised $33.5 Mn funding in three funding rounds – $500K in 2012, $20 Mn in
2015 and $13 Mn in 2016. It was backed by investors including Matrix Partners and Nexus Venture
Partners.
Shutdown Reason: In a Medium blogpost on February 23, 2017, co-founder Yogi announced the
shutdown of the company. He described the shutdown reason as lack of local network effect,
inability to expand quickly, and cost effectively plus high costs and low revenues. The company
is also in plenty of legal trouble, following the startup shutdown with Yogi being arrested on
charges of fraud. The site is not working at the moment. (Agrawal, 2017)
4
http://www.financialexpress.com/industry/startup-stayzillas-yogendra-vasupal-jailed-for-fraud-to-spend-another-
night-in-prison-as-lawyers-fail-to-post-bail/589458/
9. Bibliography
Agrawal, M. (2017, may). inc42. Retrieved from inc42.com: https://inc42.com/buzz/startup-shutdowns-
india-2017/
Business Dictionary. (2018, March 31). Retrieved from www.businessdictionary.com:
http://www.businessdictionary.com/definition/entrepreneurship.html
economic times, t. o. (2017, May 17). Economic times. Retrieved from India times:
https://economictimes.indiatimes.com/small-biz/startups/unethical-business-conduct-a-major-
reason-for-indian-startups-failure-ibm/articleshow/58707138.cms
financial express, industry. (2017). Retrieved from financial express.com:
http://www.financialexpress.com/industry/startup-stayzillas-yogendra-vasupal-jailed-for-fraud-
to-spend-another-night-in-prison-as-lawyers-fail-to-post-bail/589458/
Matthwes, J. (2018, March 31). kuffman entrepreneurship. Retrieved from www.entrepreneurship.org:
https://www.entrepreneurship.org/articles/2002/12/eight-elements-of-an-ethical-organization