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Unformatted text preview: Chapter 7: Preparing a Proper Ethical & Legal Foundation What is ethical and what is not is not always clear. Ethical behavior is at the core of ___________________ Founders have the right and responsibility to exert a moral force within the business. _________ and ____________ made early on can be costly for a new venture down the road. I. Establishing a Strong Ethical Culture: 1. Lead By Example – The most important thing that any entrepreneur, or team of entrepreneurs, can do to _________________________________________________________ is to lead by example. 2. Establish a Code of Conduct- is a formal statement of ____________________________ on certain ethical or social issues. The advantage of having a code of conduct is that it provides specific guidance to managers and employees’ regarding _______________________________________________. 3. Implement an Ethics Training Program- teach business ethics to help employees deal with __________________ _____________ and improve their overall _____________. Organizations should have both —______________________ & _______________________ to assist in promoting business ethics among their employees. II. ____________________- a situation that involves doing something that is beneficial to oneself or the organization, but may be unethical. III.Choosing An Attorney For The New Firm: 1. _____________________- familiarity & success with start-up issues 2. Be creative in setting ___________ and _______________: Group together ____________ Offer to _______________ Ask your attorney to _________________ Use _____________ professionals Negotiate _______ and _________ Seek “_______________ ” in developing all business relationships IV.Ethically Departing From An Employer: 2 Guidelines: 1. Behave ______________:...
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- Summer '11
- Business, Corporation, Limited Liability Company, iii. Business losses