What can business owners do to maintain high ethical standards in their companie

Question

What can business owners do to maintain high ethical standards in their companies?

List the core personal value that you intent to bring to your business (treating people fairly, giving back to the community, etc.) Where do these values come from( religion, faith, family)

Briefly describe the role of the following groups in entrepreneurship: women, minorities, immigrants, “part –timers,” home based business owners.

What is an entrepreneur?

INC. magazine claims “Entrepreneur ship is more mundane than its sometimes portrayed….you don’t need to be a person of mythical propositions to be very very successful in building a company . “Do you agree?”

Explanation / Answer

Question-1: What can business owners do to maintain high ethical standards in their companies?

Answer: There are many ways that help businesses to maintain ethical standards in company, as follows:

1. High ethical standards of top management: Top management must show high level of ethics and ethical standards in there conduct. This is because lower level of employees derive their values from the top management.

2. Code of conduct: There should be a well written and communicated code of ethics for employees that describes what are the acceptable standards of behaviour.

3. The compensation: The compensation offered to the employee should match with the industry standards. Lower compensation and a high variation of compensation often leads to unethical conduct.

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