Kap7primerentrepreneuruka

Kap7primerentrepreneuruka - AprimerinEntrepreneurship...

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1 A primer in Entrepreneurship Prof. Dr. Ulrich Kaiser Institute for Strategy and Business Economics University of Zurich Spring semester 2008 Chapter 7: Preparing a Proper Ethical and Legal Foundation Table of Contents I. Initial Ethical and Legal Issues Facing a New Firm II. Choosing a Form of Business Ownership University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 2
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2 I. Initial Ethical and Legal Issues Facing a New Firm ± New ventures must deal with important ethical and legal issues at the time of their launching. Ethical and legal errors made early on can be extremely costly for a new venture down the road. ± There is a tendency for entrepreneurs to overestimate their knowledge of the law. University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 3 I. Initial Ethical and Legal Issues Facing a New Firm Establishing a strong Choosing an Ethically departing ethical culture attorney Drafting a founder’s agreement Avoiding litigation Choosing a form of business ownership from an employer University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 4
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3 A. Establishing a Strong Ethical Culture I. Initial Ethical and Legal Issues Facing a New Firm University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 5 1. Lead By Example. The most important thing that any entrepreneur, or team of entrepreneurs can do to build a strong ethical culture in their A. Establishing a Strong Ethical Culture I. Initial Ethical and Legal Issues Facing a New Firm team of entrepreneurs, can do to build a strong ethical culture in their organization is to lead by example. 2. Establish a Code of Conduct a. A code of conduct (or code of ethics) is a formal statement of an organization’s values on certain ethical or social issues. b. The advantage of having a code of conduct is that it provides specific guidance to managers and employees regarding what is expected of University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 6 them in terms of ethical behavior.
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4 3. Implement an Ethics Training Program I. Initial Ethical and Legal Issues Facing a New Firm A. Establishing a Strong Ethical Culture a. Ethics training programs teach business ethics to help employees deal with ethical dilemmas and improve their overall ethical conduct. b. An ethical dilemma is a situation that involves doing something that is beneficial to oneself or the organization, but may be unethical.
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Kap7primerentrepreneuruka - AprimerinEntrepreneurship...

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