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Ethics and social responsibilities of an entrepreneur

An entrepreneur is actually running his own business and being a businessman he has some obligation of a business to meet his economic and legal responsibilities. Social responsibility is basically a business intention, beyond its legal and economic obligation to do the right things and act in ways that are good for society.

While we are talking about the business ethics, there are three things that need consideration:

(1)    Avoid breaking criminal law in one’s work related activity

(2)    Avoid action that may result in civil law suits against the company

(3)    Avoid actions that are bad for the company image.

For example, an entrepreneur made a chemical that looks like a pesticide and he started selling it like a pesticide in the market and earns the profit, this act is against the law.

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You are here: Home E-Notes MGT602: Entrepreneurship Notes Ethics and social responsibilities of an entrepreneur

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