entrepreneurship (3)

Making ethical decisions steps

1. define the problem 2. generate alternatives 3. implement the alternative

General Environment

A part of the external environment made up of sectors of major forces that shape the people and institutions of the task and internal environments, such as the economic sector or the demographic sector

Billboard principle

An ethical model that asks whether someone would be comfortable having his or her decision and name advertised on a billboard for the public to see

organizational identity

Part of the BRIE model; composed of the name, description, and distinctive elements of a firm, such as trademarks, uniforms, logos, characters, and stories.

social network

The entrepreneur's set of relationships and contacts with individuals and institutions.

external relations

The general description for the processes and skills used in the management of a firm's interactions with people, organizations and institutions outside of its boundary.

internal environment

The people and groups within the boundary of a firm, including the owners, managers, employees, and board members of the firm

caveat emptor

a Latin phrase meaning "let the buyer beware"

ethical dilemma

a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal

entrepreneurial ecosystems

a specific configuration of the environment that reflects the components that are most central to developing a strong and active Community of start up business

the organizations environment

all the factors outside the organization that have the potential to affect it

Utilitarianism

an ethical model that supports seeking the greatest good for the greatest number of people

Golden rule

an ethical model which suggests you treat others in the manner you wish to be treated

social capital

characteristics of a business such as trust and networks that represent potential social obligations that are assets of the firm or entrepreneur

networking

interact with other people to exchange information and develop contacts, especially to further one's career.

trade magazines

magazines published for people who work in a particular industry or business

ISO

stands for international standards organization and refers to certification for having met a standard quality that is consistently evaluated around the world

Mutuality

the action of each person helping another

Legitimacy

the belief that a firm is worthy of consideration or doing business with because of the impressions or opinions of customers suppliers investors and competitors

BATNA

the best alternative to a negotiated agreement; the least the individual should accept

universalism

the ethical system stating that all people should uphold certain values that society needs to function

Steps to network

1. small talk 2. remind why you are there 3. make a connection 4. follow up

ISO 14001 certification

A certification awarded to organizations for creating and implementing an environmental management system that meets the requirement of the International Standards Organization.

task environment

A part of the external environment made up of those components that the firm deals with directly such as customers, suppliers, consultants, media, interest groups, and the like.

External Environment

the forces, institutions and people outside the boundary of the firm