Countries are being reliant on

specialized-knowledge driven goods

and services.
Innovative Entrepreneurship makes
economic growth possible
Entrepreneurship will contribute to
growth and employment creation
1. Role of the state as regulator
and overseer
2. People’s well-being might be
neglected in everyone’s struggle
to raise social and economic
growth
Entrepreneurship contribute to the nation’s
overall economic by:
The savings of individuals and of investors
are made available for the expansion of
the nation’s capacity to produce more
goods and services.
It also promotes employment
The government should create an
environment where entrepreneurship
can grow.
New business need support in their
lifecycle phases, especially at the start.
 Finance Legal

socio-psychological Technological
support
Bureaucratic delay, otherwise known as
red tape, is one of the barriers to new
business creation.
Policies, Laws, regulations, and
procedures should be simplified to ease
the way for new entrepreneurs.
 In the digital age, business opportunities have
become numerous and varied. They have
special needs of their own that the government
must respond to.

 Demographic groups that are

underrepresented in the entrepreneurial
population are young people, women, the
disabled, members of indigenous population,
and the unemployed.
“An entrepreneur must possess a
principle of knowing what is right
and what is wrong.”
 “Effective action helps
the enterprise beyond the
narrow focus on technical
competence and financial
goals.”
Integrity
Laborer/Workers
Clients
Environment
Government Agencies
• A problem or situation that requires a
person or organization to choose
between alternatives that must be
evaluated as right (ethical) or wrong
(unethical).
1. Politician misusing taxpayer’s money.
2. Questionable foundations and private
organizations acting as conduits to stolen
funds.
3. Grease money to hasten transactions.
• Entrepreneurs work under time pressure
which leaves a little time to check ethical
standards.
• Distractions surrounding the entrepreneur
increase the risk of making wrong choices.
• Entrepreneurs are bombarded with
idea that they in the driving force of
the economy and thus must act fast
in managing, overcoming risks and
creating novelty all the time.
• A code of ethics is a guide of principles
designed to help professionals conduct
business honestly and with integrity.
• A code of ethics also referred to as an
"ethical code," may encompass areas such
as business ethics, a code of professional
practice and an employee code of
conduct.
Company’s guide or basis to define
what is moral, ethical and fair before
business operations begins.
Ethics and moral principles must
underpin all the entrepreneurs
actions.
1. Improved quality and quantity of old
and new products or services
2. Increase in market share, growth in
profits and contribution to the
community,
 Technical
competence
Search for a new
and improve
ways of work
 Complete
responsibility
Respect for the needs
of those around him.
Fair pricing
Rewards for good
action
Corrections for those
doing wrong
Sound financial
management
Efficient and rigorous
Business monitoring
and reporting
Sharing financial
success
Social responsibility
Environmental
awareness
“ The entrepreneur’s ethical decisions
will make others trust him and the
business runs”
Identify the general principles
Check with pertinent government
agencies, etc. for ethical standards to
review and use as patterns.
Allow for the facts that ethical questions.
 Write out specific statements that will
assist everyone.
 Meet with groups of stakeholders.
 Ask for opinions and suggestions
 Make a final draft.
 Apply the code of ethics.
 Train everyone involved to make
ethical decisions.