Create an original code of ethics and business conduct for a new business venture based upon key ethical principles and professional issues. Include industry considerations that may impact the new venture operations.
This assessment examines entrepreneurial leadership characteristics and the ethical aspects of entrepreneurship; it also explores building the right team for your new venture. You will create an original code of ethics and business conduct for the new venture you plan to start and operate. This code of ethics and business conduct will include the ethical principles and professional issues for your leadership approach to embody and support and for all your employees to emulate and follow.
Creativity and innovation are essential leadership characteristics for an entrepreneur. Creativity is the ability to develop new ideas and new ways of solving problems. Innovation is the ability to apply creative solutions to problems and opportunities. As management legend Peter Drucker once said “Innovation is the specific instrument of entrepreneurs, the act that endows resources with a new capacity to create wealth.” Scarborough & Cornwall, 2019, ThinkExist.com, n.d.). Creative thinking provides the foundation for new ideas that lead to innovation and new ways of doing things.
With creativity and innovation comes ethical and moral responsibilities for the entrepreneur. Establishing and maintaining ethical standards is essential for creating a healthy and ethical organizational culture that guides management and employees’ behavior and determines how your new venture conducts its business and daily operations. These behaviors have an impact on how your new venture views its social, environmental, employee, and customer responsibilities, and will influence the choices you make as you build the right the team for your new venture.
Scarborough, N. M., & Cornwall, J. R. (2019). Essentials of entrepreneurship and small business management (9th ed.). New York, NY: Pearson.
ThinkExist.com. (n.d.). Innovation quotes. Retrieved from http://thinkexist.com/quotations/innovation
Create a 5–6 page new Code of Ethics and Business Conduct for the new venture you plan to start and manage successfully. Consider key ethical principles and professional issues that you want your leadership approach to embody and support and all of your employees to emulate and follow. Also examine and address particular industry considerations that could impact the new venture operations (cover in the relevant sections).
Use the Code of Ethics and Business Conduct [DOCX] template to complete this assessment.
These are the key code sections that you must include (these are all listed on the template).
Note: This assessment must be mostly your own work written in your own words. You are more than welcome to research other companies’ codes of ethics and conduct in order find inspiration and to help you list all of the issues to consider. However, you must write the code mostly in your own words and cite in proper APA in-text citations any information used from other codes or sources.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
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