Performance Indicator: EN:044

Curriculum Framework:
Business Administration Core

Performance Element: Understand fundamental factors about entrepreneurship to recognize its role and importance in the economy

Performance Indicator: EN:044
Describe the use of business ethics in entrepreneurship

LAP: LAP-EN-044
© LAP : 2022

Concept/Skill: C
Uses Math: 0

Curriculum Planning Level: SP

Objectives:

a. Define the following terms: nepotism, copyright infringement, patent infringement, trademark infringement, puffery, business sustainability, corporate social responsibility.
b. Explain the importance of ethical decision-making in entrepreneurship.
c. Describe the benefits of ethical decision-making for entrepreneurs and their companies.
d. Discuss ethical dilemmas that entrepreneurs may face when generating venture ideas.
e. Explain ethical dilemmas that entrepreneurs may face in acquiring and using financial resources.
f. Describe ethical dilemmas that entrepreneurs may encounter when selecting employees.
g. Discuss ethical dilemmas that entrepreneurs may encounter when actualizing their business ventures.
h. Explain the relationship between business sustainability and ethical entrepreneurship.
i. Describe ethical dilemmas related to maintaining personal commitments that entrepreneurs may face.

Activity:

Divide students into groups of three or four. Ask them to spend choose a type of business that they would like to open, such as a restaurant, store, manufacturer, service provider, etc. Then, ask them to generate a list of ethical issues that could come about if they tried to start their business. Ask students to share their lists of ethical issues with the class. Then, instruct each group to choose one ethical issue from its list and explain what it would do to resolve that issue.

Ethics Case for Students: Liam is running a new startup and experiencing a lot of employee turnover. Many of his employees complain about the ambitious, physically demanding production goals. Liam believes the high production goals are necessary to keep employees on task and save on production costs. Since the job is an entry-level position paying minimum wage and he is always able to find new hires, Liam doesn’t concern himself with how employees feel about the working conditions. Are Liam’s business practices ethical? (Ethical Principles Involved: Fairness, Respect, Rule of Law, Viability)

Crosswalks

21st Century Skills
Financial, Economic, Business and Entrepreneurial Literacy: (3)
Critical Thinking & Problem Solving (1)
Critical Thinking & Problem Solving (3)
Communication & Collaboration (1)
Information Literacy (1)
Leadership & Responsibility (3)
Leadership & Responsibility (4)
SCANS
Information: (5) Acquires and Evaluates Information
Information: (6) Organizes and Maintains Information
Information: (7) Interprets and Communicates Information
Systems: (15) Understands Systems
Basic Skills: (1) Reading
Basic Skills: (2) Writing
Basic Skills: (5) Listening
Basic Skills: (6) Speaking
Thinking Skills: (12) Reasoning
Personal Qualities: (17) Integrity/Honesty

Reference Books

Title: Entrepreneurship: Theory, process, practice (11th ed.)
Author: Kuratko, D.F.
References: [pp. 43-50]

Publisher: Boston, MA: Cengage Learning, Inc.
Copyright: 2020

Title: Small business management: Launching and growing entrepreneurial ventures (19th ed.)
Author: Longenecker, J.G., Petty, J.W., Palich, L.E., & Hoy, F.
References: [pp. 21-35]

Publisher: Boston, MA: Cengage Learning, Inc.
Copyright: 2020

Title: Entrepreneurship (3rd ed.)
Author: Clark, B., & Commers, J.
References: [pp. 64-71]

Publisher: Tinley Park, IL: Goodheart-Willcox.
Copyright: 2023

Reference Websites

Title: Decision making in business ethics
Author: Ahmed, A.
URL: https://smallbusiness.chron.com/decision-making-business-ethics-446.html

Copyright: 2020, August 21
Accessed on: 2022-06-07

Title: Ethics in entrepreneurship
Author: Angel, C.
URL: https://utas.shorthandstories.com/PP_Ethics_in_Entrepreneurship/index.html

Copyright: 2017, October
Accessed on: 2022-06-07

Title: 10 common ethical dilemmas in entrepreneurship.
Author: Black Enterprise
URL: https://www.blackenterprise.com/10-common-ethical-dilemmas-entrepreneurship/

Copyright: 2016, August 29
Accessed on: 2022-03-01

Title: Intro - Business ethics and social responsibility. [Video].
Author: Daigle, B.
URL: https://www.youtube.com/watch?v=CiOHT619uj0

Copyright: 2015, June 23
Accessed on: 2022-05-25

Title: Entrepreneur ethics and importance of ethics in key areas of business.
Author: Desi Entrepreneurs
URL: https://desientrepreneurs.com/entrepreneur-ethics-importance/

Copyright: 2018, July 2
Accessed on: 2022-06-07

Title: Eight common ethical dilemmas business owners face (And how to overcome them)
Author: Forbes
URL: https://www.forbes.com/sites/theyec/2021/04/30/eight-common-ethical-dilemmas-business-owners-face-and-how-to-overcome-them

Copyright: 2021, August 30
Accessed on: 2022-06-07

Title: 14 key steps to building a sustainable business.
Author: Forbes
URL: https://www.forbes.com/sites/forbesbusinesscouncil/2021/02/22/14-key-steps-to-building-a-sustainable-business/?sh=7f6c1cab7752

Copyright: 2021, Feb 22
Accessed on: 2022-05-25

Title: Ethical decision making || Business ethics. [Video].
Author: FST Study
URL: https://www.youtube.com/watch?v=9D8g5mShiIc

Copyright: 2020, December 19
Accessed on: 2022-06-07

Title: Ethical decision making in management. [Video].
Author: GreggU
URL: https://www.youtube.com/watch?v=6UrBO-cL27Q

Copyright: 2017, November 26
Accessed on: 2022-06-07

Title: The 4 pillars of ethical enterprises.
Author: Hagenbuch, D.
URL: https://www.entrepreneur.com/article/240035

Copyright: 2015, January 16
Accessed on: 2022-06-07

Title: A good start: Ethics for entrepreneurs.
Author: Hanson, K.O.
URL: https://www.scu.edu/ethics/focus-areas/business-ethics/resources/a-good-start-ethics-for-entrepreneurs/

Copyright: 2015, November 20
Accessed on: 2022-05-25

Title: How ethical decision-making drives business.
Author: Horan, T.
URL: https://www.redlands.edu/study/schools-and-centers/business/sbblog/2022/march-2022/how-ethical-decision-making-drives-business/

Copyright: 2022, March 14
Accessed on: 2022-06-07

Title: Importance of ethics for entrepreneurs.
Author: Milano, S.
URL: https://woman.thenest.com/importance-ethics-entrepreneurs-14170.html

Copyright: n.d.
Accessed on: 2022-05-25