These are the set of principles and practices; that determine acceptable behavior in the business organization. It guides the managers and other executives in making everyday business decisions. It stresses on the impact of the business decision on the stakeholders, such as employees, consumers, government, society, investors, shareholders, and so on. Principles of Business Ethics
Ethics is the branch of philosophy that deals with the principles of morality and the well-defined standards of right and wrong that prescribe human character and conduct in terms of obligations, rights, rules, benefit to society, fairness, etc. In other words, ethics encompass human rights and responsibilities, the way to lead a good life, the
What is Business Ethics? Business ethics is a form of applied ethics. In broad sense ethics in business is simply the application of moral or ethical norms to business. Business ethics refers to a ‘code of conduct’ that businessmen must follow while dealing with others. A ‘Code of Conduct’ is a set of principles and
Growth of Women Entrepreneurship in India If society is a vehicle, both men and women are its two wheels. Contributions of both women and men are required to the activities of building a nation. India has about seven lakh villages, in which more than 70 percent of its population lives. The labor force in the
Most people believe that to be an entrepreneur, one requires a professor’s intelligence, a fortune-teller’s capacity to foresee the future, a rich man’s bankroll, a salesman’s persuasiveness, a financial talent for manipulating funds, an auditor’s precision, a political leader’s power and the magnetic personality of a film star. Since very few people possess even one
Personal Qualities of Entrepreneurs Equally important as the common issues shared by all entrepreneurs are the personal qualities of an entrepreneur or herself. Although it is not necessary that you possess all of them, you should possess most: Passion Entrepreneurs have a strong passion for their ideas or concepts, so much so that their work
What is Target Group? In an entrepreneurial development programme, the target group refers to the group of persons for whom the programme is designed and undertaken. Every target group has its own needs and constraints. Therefore, the programme designed for one group might be inappropriate for other groups. Target Group Before the programme is designed
Training in Entrepreneurship Once the selection of potential entrepreneurs is over, they have to be equipped with managerial and technical skills to start an enterprise. In an entrepreneurial development program, there are candidates with a variety of backgrounds and qualities. Therefore, a package of training inputs is provided during the program which is usually of
Human Resource Factors in Entrepreneur These are the inherited or acquired traits. Research reveals the following human resources factors that influence entrepreneurial success: Achievement-Motivation It is the urge to improve oneself in relation to a goal. It includes both personal achievement and social achievement. It is the basis of entrepreneurship as entrepreneurs with high needs
Socio-Personal Characteristics The most common socio-personal characteristics are caste, family occupation, age, education, size and number of family working hands, earning members, and social participation. A brief description of these characteristics is given below: Caste and Family Background Caste and family background help in creating an entrepreneurial environment and occupational awareness for the entrepreneurs. There
