entrepreneurship weeks 1&2 ethan chazin
DESCRIPTION
Great tips, resources, best practices and strategies for entrepreneurs, start-ups, professionals and small business owners.to plan launch and grow successful businesses.TRANSCRIPT
Welcome to:ORGL 2900
ENTREPRENEURSHIPENTREPRENEURSHIP
• About YOUYOU• About MEME• Review The Syllabus
Charge Boldly Ahead!Charge Boldly Ahead!
Tonight’s Agenda
Our Textbook
Around the Room:Around the Room:
Why Are You Taking Why Are You Taking This Course?This Course?
About YOU
About ME
BA in Comms (MBA Mktg) 20 Years In Corp. America Started Career as Recruiter Downsized 8X Mktg/Sales BackgroundLaunched a Biz Consultancy ‘04
Contact me at:T: (201) 683-3399EM: [email protected]
What I Do… Job Search Strategies Interviewing & Networking Career Coaching Life / Work Balance Business Owner Coaching Human Capital Development Professional Development Salary Negotiations
What is an What is an ENTREPRENEUR?ENTREPRENEUR?
Chapter 1: Small Biz
OpportunitiesOpportunities & RewardsRewards
• SBA• NY SBDC• Workshop in Biz Opportunities• SCORE• NYC Business Solutions Centers• Business Incubators• Workspace
Getting Help
Definition of Small Biz
• Per SBA 25.8mm SB in US in ‘05• SMEs 1-50 employees• Independent: owned by an individual• 16.3mm self-employed people in US in ‘06 (US
Census)• Need for financing = Oxygen
Definition of Small Biz
2010 Census With Respect 2010 Census With Respect to Small Businessto Small Business
Dynamic Capitalism Typology
• Growing the business from start up• Flexibility• Income
Rewards
Getting Started
• 95% of all jobs
Fueling the Economy
• 25% of today’s American workforce categorized as independent, contract and consulting professionals.
• 15-20% unemployment.• The Internet has shifted power from the
content OWNERS to the MASSES• Americans spend 2 years searching for a
1 year contract assignment.
New Opportunities
• PublicPublic: revitalizing Government agencies.
• IndependentIndependent: small business.• CorporateCorporate: customer focus & innovation.• SocialSocial: creating charitable and civic
organizations.
4 Forms of Entrepreneurship
Chapter 2:
Small Biz Ethics
What’s “ETHICAL” What’s “ETHICAL” Behavior?Behavior?
“Being in accordance with the accepted
principles of rightright and wrongwrong that govern the conduct of a
profession.”
/www.thefreedictionary.com/ethical
Ethics refers to standards of right and wrong that prescribe what we ought to do, usually in terms of rights, obligations, benefits to society, fairness, or specific virtues. Ethics refer to the standards that impose the reasonable obligations to refrain from rape, stealing, murder, assault, slander, and fraud.
www.scu.edu/ethics/practicing/decision/whatisethics.html
Ethical standards also include those that enjoin virtues of honesty, compassion, and loyalty. Ethical standards include: standards relating to rights (right to life, freedom from injury, the right to privacy.) Such standards are adequate standards of ethics, because they’re supported by consistent/well-founded reasons.
www.scu.edu/ethics/practicing/decision/whatisethics.html
Ethics refers to the study and development of one's ethical standards. Feelings, laws and social norms can deviate from what is ethical.
So it’s necessary to constantly examine our standards, to ensure that they’re reasonable and well-founded. Ethical behavior requires we continuously study our beliefs and conduct, and striving to ensure that we, and the institutions we work for, live up to standards that are reasonable and solidly-based.
•Ethical EgoismEthical Egoism: acting for your OWN self interest.
•UtilitarianismUtilitarianism: creating the greatest good for the greatest number of people.
•AltruismAltruism: advancing the best interest of others.
Does compliance reinforce inaction and only token responses?
The Chazin Group The Chazin GroupFOR DISCUSSION
Ready to See How Ready to See How ETHICALETHICAL You Are? You Are?
Let’s take a quiz.Let’s take a quiz.
www.ea.ne.gov/PDFs/presentations/BusEthicsQuiz.pdfwww.ea.ne.gov/PDFs/presentations/BusEthicsQuiz.pdf
You are an office manager and you discover that an upper-level
manager has repeatedly used the company credit card for personal
expenses.
What do you do?What do you do?
Example #1
a) I do nothing. The person is higher than I am so it must be OK.
b) I confront the person and hope that this won't threaten my job.
c) I confront the person and reveal what I know to a higher-level manager or someone in human resources.
Correct Answer: CC
Talking to the person is not enough to ensure that the behavior won't continue.
"Intervening directly is necessary but not sufficient," says Bruce Weinstein, Ph.D., who writes the column "Ask the EthicsGuy.“ Weinstein says management or HR should monitor the person.
You have authority over HumanResources and an employee comes to you and says: "I want to tell you something about someone, but you can't tell anybody." He then reveals that someone pushed another employee in the company kitchen.
What do you do?What do you do?
Example #2
a) I promised not to tell, so I don't.
b) I find out if the employee was injuredand decide based on that whether to tell.
c) Even though it breaks my promise, I tellmy boss so the incident goes on record.
Correct answer: CC
Jenn Crenshaw, a professor at the Univ. ofPhoenix in VA says a human resources manager should warn employees before they divulge a secret that her position and the law might require her to tell someone else. "Then they get to decide whether or not they're going to tell me," Crenshaw says. Even if she doesn't get a chance to forewarn the employee before sensitive information is revealed, she makes sure anything important, like physical assault, goes on the record by telling a higher-up.
• As a start up ALL you have is your reputational “brand” build Legitimacy
• FORMALFORMAL vs. INFORMALINFORMAL Culture• Powerful Recruiting tool: Become a
preferred employer• Create written standards of ethical
behavior (TSB)• Apply to recruiting, hiring, keeping and
growing your people• Crisis Management
Ethic’s Impact on Culture
• Who will be hurt/how badly?• Who will benefit/how much?• What do you owe others?• What do others owe you?
The 4 Questions
For Discussion
• DistributiveDistributive View– “WIN/LOSE”– What’s best for my
business
• Integrative View:– What’s best for everyone
involved
Options for Action
Build A Moral Compass
• Be truthful about (WMOB) status
• Stealing ideas from job candidates
• Lying to partners, vendors, suppliers, etc.
• Not making payments in a timely fashion
• Stringing people along – false promises
• Misleading PR & marketing statements
• Knowingly launching dangerous products
• Preferential (non-standard) pricing
• Falsifying documents• Not returning phone
calls
Moral Compass
• UniversalismUniversalism: A code of right & wrong that EVERYONE follows
• UtilitarianismUtilitarianism: the action that causes the greatest good for the most people is the RIGHT action
• Golden RuleGolden Rule: Treat everyone the way I’d want to be treated
Key Terms
• Formulate Vision & Mission statements• Develop company values and standards
of behavior• Hire ethical people• Deal with ethical people
To Ensure Ethical Behavior
Why It’s So Hard to be Ethical Why It’s So Hard to be Ethical In These Trying TimesIn These Trying Times
• Increased global competition.• The critical importance placed on our quarterly
financial performance reporting.• 24x7x365 news reporting cycle.• Social media and the Internet.• No job security.• Tremendous demands made for productivity
gains.
The Chazin Group The Chazin GroupThese Trying Times
How NOT to ActHow NOT to Act
Hall of ShameHall of Shame
Unethical Behavior Unethical Behavior Surrounds UsSurrounds Us
• Extended unpaid internships.• Plagiarism.• Lying on your taxes, resumes.• Falsifying professional credentials.• Construction companies ignoring
codes, taking shortcuts.• Mortgage robo-signings.
The Chazin Group The Chazin GroupUnethical Behavior
• Producing/marketing dangerous products.
• Legalized gambling.• Police misconduct.• Accepting bribes.• Piracy.• Vulture Capitalists.• False/inaccurate job postings.
The Chazin Group The Chazin GroupUnethical Behavior
• Division I College athletics as big-time sports.
• Identity theft.• Teacher-student sexual relationships.• Rampant hypocrisy. • Pedophilia.
The Chazin Group The Chazin GroupUnethical Behavior
Does The Workplace Does The Workplace Breed Unethical Breed Unethical
Behavior?Behavior?
The Chazin Group The Chazin GroupFOR DISCUSSION
• Discrimination• Sexism (Glass Ceiling)• Cronyism• Office Politics
The Chazin Group The Chazin GroupThe Workplace
Guidelines Do ExistGuidelines Do Exist
• Sarbanes-Oxley (2002)• Stock Exchange Standards (2003)• McNulty version of Principles of
Prosecution (2006)• U.S. Sentencing Commission
The Chazin Group The Chazin GroupGovernment Guidelines
Socially Conscious Socially Conscious CompaniesCompanies
Social EntrepreneurshipSocial Entrepreneurship
ResourcesResources
