1. Entrepreneurship Mr. Bernstein Social and Ethical Responsibility, pp 514-525 January 13, 2015

2. Entrepreneurship Mr. Bernstein Social Responsibility Duty to contribute to society Obligation to Stakeholders Customers Employees Investors Community Competitors Is the business of business …business? 2

3. Entrepreneurship Mr. Bernstein Business Ethics More than just following laws and regulations Morally justifiable behavior Can vary from manager to manager, business to business or country to country Written Code of Ethics – values and rules that express the firm’s philosophy goals Written Code clarifies some dilemmas, but not all 3

4. Entrepreneurship Mr. Bernstein Special Ethics Problems for Entrepreneurs Conflict of interest Desperate measures Bribes 4

5. Entrepreneurship Mr. Bernstein A Famous Code of Ethics 5

6. Entrepreneurship Mr. Bernstein Kraft Foods 10-point Code of Ethics Make food that is safe to eat Market responsibly Treat people fairly Respect the free market Compete fairly Respect the environment Deal honesty with the government Keep honest books and records Never trade on inside information Give Kraft Foods your complete business loyalty From The Houston Chronicle, http://smallbusiness.chron.com/examples-code-ethics-business-4885.html 6