The Islamia University of Bahawalpur,

Rahim Yar Khan Campus

PRESENTED BY
Anam Bari Khadija Liaquat Nimra Ahsan 36 37 38

Ethics And Social Responsibility Of Entrepreneur

LOOKING AHEAD
Ethics & Business ethics Codes of ethics & definition Implementation of code of ethics Advantages & disadvantages of code of ethics Action checklist Dos and donts for effective code of conduct What belongs in a code of ethics? What is Social Entrepreneurship How Entrepreneurs Become Agents of Change Social Entrepreneurs Gather Together at Skoll World Forum 2010

Ethics
study of whatever is right and good for humans

Business Ethics
The study of behavior and morals in a business situation.

Codes of ethics (Checklist 028)

This checklist provides initial guidance for those introducing a new code of ethics or updating an existing one. It applies equally to the public, private and voluntary sectors.

Definition
Codes of ethics are guidelines to the moral principles or values used by organizations to steer conduct, both for the organization itself and its employees, in all their business activities, both internal and external.

Implementation of a code of ethics

Step 1: Model ethical behavior Step 2: Create an ethics advisory board Step 3: Put it in writing Step 4: Discuss ethics in staff meetings Step 5: Conduct annual audits and reviews

Advantages of a code of ethics

A code of ethics: provides explicit guidance to managers and employees so they know what is expected of them in terms of ethical behavior provides new employees with ethical guidance and a sense of common identity enhances the organization's reputation and inspires public confidence

 signals to suppliers and customers the organization's expectation of proper conduct promotes a culture of excellence by demonstrating the commitment of the organization to ethical behavior.

Disadvantages of a code of ethics

Introducing a code can lead to cynicism if it is seen only as a paper exercise. Without proper guidance, different parts of the organization may interpret the code differently, ultimately devaluing it. Introducing and implementing the code effectively will be demanding of senior management time. The code may raise public and employee expectations to a level that the organization is unable to live up to.

Action Checklist
1. Secure commitment of top management 2. Gain organizational agreement on the primary purpose of a code 3. Identify and define existing sources of values within the organization 4. Prepare a draft code 5. Include in the draft code 6. Circulate the draft widely within the organization and take comment seriously

 7. Once the code is finalized, devise an implementation strategy 8. Circulate the final code widely 9. Establish a procedure for complaints, concerns and questions 10. Establish a mechanism to review the code's continuing relevance, and to monitor and evaluate its effectiveness

Dos and don'ts for effective codes of conduct

Do
Make sure the code reflects the organization's own values and traditions, and that it is in line with staff handbooks and operating manuals. Seek employee input at all stages, and encourage a climate which enables discussion of, and challenge to, the principles of the code without undermining it. Use plain language and avoid platitudes, jargon, legal and technical phrases or current buzz words when writing the code, and include realistic examples and factual situations to provide guidance.

Don't
Use the code to impose new or inappropriate values on the organization. Make the code too vague or prescriptive. Create an expectations gap between the principles of the code and the behavior of the organization in practice. Put ethical wallpaper on a decaying wall: it must be real, not a covering.

What belongs in a code of ethics?

They emphasized the following guidelines to keep in mind when developing a code: It should be positive. It should be brief. It should make reference to relevant board policies and other documents. It should be "aspirational" in tone rather than compliance oriented. It should help reinforce the fact that as cooperatives, we are different.

What is Social Entrepreneurship?

Social entrepreneurship is different from business entrepreneurship because the main goal of the former
is to promote social development not profits.

How Entrepreneurs Become Agents of Change

To effect change, social entrepreneurs do the following:
Create and sustain social values Recognize and pursue opportunities in service of the goal Continuously pursuing innovation, adaptation, and learning Take bold steps even if resources are limited Accountability to the customers served and for the outcomes of their actions

LOOKING BACK

Ethics & Business ethics Codes of ethics & definition Implementation of code of ethics Advantages & disadvantages of code of ethics Action checklist Dos and donts for effective code of conduct What belongs in a code of ethics? What is Social Entrepreneurship How Entrepreneurs Become Agents of Change Social Entrepreneurs Gather Together at Skoll World Forum 2010

Thank you