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Business Ethics: Entrepreneurial Philosophy

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Ethics seek to determine how human beings should act. Ethics is other major types of practical discipline. It tries to help us decide how we should act not just in order to attain given objective or objectives but, rather, all things considered. The
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  Business Ethics: Entrepreneurial Philosophy. It is evident that certain behavior is displayed by an individual in a society,which either earns recognition or defames such person. This is virtually notunconnected to an organization that tends to deal in business with fullanticipation of meeting the perceived need of an individual. What attitude orbehavior an organization exhibit that wins her much expected patronage,and that makes her remain in business?It will be helpful to begin by demarcating the special province of ethics.thics seek to determine how human beings should act. In view of this, it isobvious to know that technical disciplines seek to determine how one shouldact in order to attain a certain ob!ective. Thus, for instance, assuming that achild wants to get money from his"her parent, it is expected of such child tohave been answerable to them, especially on errand or his responsivenessdomestically as a promise#kept child. $ut I doubt, a wayward child will getsuch from them. This tells us the need to display certain behavior in order toget things of our utmost demand in life.thics is other ma!or types of practical discipline. It tries to help us decidehow we should act not !ust in order to attain given ob!ective or ob!ectivesbut, rather, all things considered. The focus of ethics is to behave in order toensure that our life is %ourishing, successful, worth living, ful&lling.thics is, &rst of all, the 'uest for, and the understanding of, the good of life,living well, a life worth living. It is largely a matter of perspective( puttingevery activity and goal in its place, knowing that is worth doing and what isnot worth doing, knowing what is worth wanting and having and knowingwhat is not worth wanting and having. It is also, within business itself,keeping in mind what is ultimately important and essential and what is not,what serves our overall career goals and what does not, what is part of business and what is forbidden to business, even when increased pro&t, themost obvious measure of business success, is at stake) In the context of Entrepreneurship: *ulture, moral standard, norms and principles, among others are connectedto business ethics here, how do I run my business to pro&tability? Whatmeasure do I intensify to have customer retainer ship and brand loyalty?+ave I ever contravened the culture of the society where I operate? re myproducts or services conforming to the perceived need of my clients orcustomers? -o we keep to the much expected ethics as spelt out in thecompany policies? any 'uestions linger to answer how receptive we are, tosucceed in business. The ethics of an entrepreneurial activity is ascertained by evaluating itsactual performance with the standard set within the structural framework of   an organization or operational manual. In an organization, employees arerestrained by the company policy that no member of sta/ should displaytruancy, work under the in%uence of alcoholism, should &ght in an o0ceenvironment, and lot more. n organization too, to some extent, is saddledwith some ethical standard that sustains her relevance and that keep her inbusiness no matter the sti/ competition permeated the market. $usinesssuccess demands so much from an entrepreneur who converts resources tobusiness reality. Timeliness of delivery: +ow timely did you deliver to promise? any ones have not really valuedtime. It craves for responsiveness to customer1s order and re'uest,especially to the customer who had placed order ahead of productioncompletion, if it were in the manufacturing sector, so also in the servicesector. Imagine a young barber, who used to o/er home service to hiscustomers, he had promised his customer this beautiful day that he will becoming to save#clean for them, he was restrained by unforeseencircumstance without communicating to them, while they felt disappointedand lost this valuable customer. In case of unforeseen role con%ict, strive andadopt instant communication to retain your valuable customers. Discipline: It is an e/ort that is sustained. Truly, it is. I have always been emphasizingthe importance of discipline to business success and adaptability in thecompetitive market. any businesses have gone to bed, for takingadvantage of product scarcity to in%ating prices indiscriminately for herpotential customers. It turns a loss of customers to them when pricestabilizes( it beckons on us to very mild at given prices to our customers. -owe accept and elicit action on our customers complain if indeed we arecustomer#inclined in our business? If we promise to get to our supplier at23a.m, do we get there at 23 am? This is an act of discipline if we act to ourwords. re we tax compliant entrepreneurs? I used to know much secret of some entrepreneurs in 4agos in their desperate bid to evade their tax liabilityto 4agos 5tate 6overnment, this largely constitute a serious act of indiscipline in business. Customer Relationship Manaement:  The 'uality of service you rendered to your customer is predicated by your*7. Where does it started? Is it from the desk of your receptionist or whereprecisely? It involves everyone working for you towards them 8customer9because customer is one of the components of business. It starts from thegateman who welcomes customers into the business premises. Whateverimpression your gateman gave to a customer is the summary of what thatcompany is known for. 5o train your employees to be customer friendly and  frustration tolerant to abhor insult and work to goal. When complain comesfrom customer1s end, how do you treat it? -o you display lackadaisicalattitude towards it? I will want to believe, you will do the needful to unravelsame complain to keep them. :nowing your customers in detail is the secretof customer retainership and loyalty. :now their anniversaries date andswoop on them with messages such as birthday wishes, a/ord to attend theirchildren wedding ceremony with intriguing gifts and lots more. It is a winningconcept, as it holds your a0nity with them. Ro!ust Technoloy: +ow reliable is your technology to meeting the perceived need of yourcustomers or clients? -o you expect a female patient who approaches yourhospital for ;ray and 5can and you are always embattled with faultymachines( will she come back to you next time? I know the answer I will getwill be <=. 7unning an e/ective and real#time technology will usher yourbusiness to that empire of patronage, no doubt about it) 4ike >oruba adagesays, enu araye lebo@. Whatever people say about you, it shapes yourfortune or contrariwise) We should be mindful of our technology, as thesustainability of our business hinged on technology. "nother Illustration:   very young and good#looking man approached hisbanker for cash withdrawal, only to be told they had network catastrophe,and he was advised to come a day next while he needed his money forbusiness transaction urgently. +e triggered a face#o/ with the branchmanager, he opted for a close of account form and he angrily close it sameday. I know, it is a loss to such bank because the bank has not only lost thatcustomer but also all the allies of such customer may 'ueue behind him assympathy for their friend. Then, the multiplier e/ect of not satis&ed acustomer has caused the bank lost of more than 2A customers who haddisplayed displeasure at such bank service failure.$usiness managers only manage businesses to making pro&t, not putting inplace all the mechanisms that sustain business to be more aging and en!oylongevity. Bro&t maximization is the watchword of most business mogul,believing in the tradition of a capitalist who makes money at the detriment of the business itself( but entrepreneurs are obviously conscious of what valuehe might add to making his business glowing and keep customers comingback?thics, to entrepreneurs, is a mechanism for business survival andsustainability. The behaviors, attitude of an organization itself and theentrepreneurs are tailored toward conformity with the expectations of thesociety where they both operate.ntrepreneurship is more demanding than business management, as it o/erse/ort not only to manage a business, but also to sustain the same, to  innovate in order to remain in business, breaking new ground and to be morecreative at launching new ideas that support the existing business. <ursingstartups to a conglomerate re'uires innovative research and environmentalscanning for market dominance and niche. $usiness thics is synonymous to business morality that breeds principle of solidarity, rationality, fairness or impartiality, e0ciency, refraining fromin%icting directly willed harm on a human being, social responsibility of entrepreneurs, role#responsibility and diversity of responsibilities andprinciple of cooperation and morality rule the world of entrepreneurs) Tunde #yinlola$ %&D 'Bus.Mt() B.*c '%ons( Entrepreneurship) MB"'Mar+etin() M.*c 'In vie,() "CE) -C-I") M."E*.
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