Professional Documents
Culture Documents
____________________________________________________________________________________
The
ENTREPRENEURIAL
MIND
2ND SEMESTER, A.Y. 2022-2023
GEC 4110 1211
LEARNING MODULE 3
Table of Contents:
Introduction:
A social entrepreneur is a
person who pursues novel
applications that have the
potential to solve community-
based problems. These
individuals are willing to take on
the risk and effort to create
positive changes in society
through their initiatives.
➢ A social entrepreneur is
interested in starting a business
for greater social good and not
just the pursuit of profits.
Understanding Social
Entrepreneurs
While most
entrepreneurs are
motivated by the
potential to earn a
profit, the profit
motive does not prevent
the ordinary
entrepreneur from
having a positive impact
on society.
As Adam
Smith explained in The
Wealth of
Nations (1776), "It is not
from the benevolence of
the butcher, the brewer,
or the baker that we
expect our dinner, but
from their regard to their
own self-interest." Smith
believed that when
individuals pursued their own best interests, they would be guided toward
decisions that benefited others. The baker, for example, wants to earn a
living to support his family. To accomplish this, he produces a
product, bread, which feeds and nourishes hundreds of people.
5|Ethical, Social and Sustainable Entrepreneurship
Examples of Social Entrepreneurship
Include microfinance institutions, educational programs, providing banking
services in underserved areas and helping children orphaned by epidemic
disease. Their efforts are
connected to a notion of
addressing unmet needs
within communities that have
been overlooked or not
granted access to services,
products, or base essentials
available in more developed
communities.
➢ A social entrepreneur
might also seek to address
imbalances in such
availability, the root causes
behind such social problems,
or social stigma associated
with being a resident of such
communities. The main goal
of a social entrepreneur is
not to earn a profit, but rather
to implement widespread
improvements in society.
However, a social
entrepreneur must still be
financially savy to succeed in
his or her cause.
The introduction of
freshwater services,
through the
construction of new
wells for instance, to
communities that lack
stable utilities of their
own is another
example of social
entrepreneurship.
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ETHICS AND ENTREPRENEURSHIP
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Role of entrepreneurs in promoting ethics:
➢Establishing a culture
that clearly defines
behaviour that is
acceptable and
unacceptable.
➢Include issues of
ethics in all training
programs.
➢Guide employees on
how to deal with ethical
dilemmas
➢Form an ethics
committee that reports to
the CEO and the board
Prepare guidelines on how employees should deal with all
stakeholders
➢ Develop code of ethics and code of conduct.
Codes of Ethics
A document that spells
out the ethical
standards, norms,
beliefs and values an
entrepreneur has
committed himself/
herself to abide by.
A code of ethics
➢Is an indication of an
entrepreneur’s
commitment to high
ethical standards?
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➢ Lays the parameters within
which individuals must behave
➢ Provides the employee with
a basis to inform senior
management of unethical
behaviour.
➢ Helps employees to deal
with ethical dilemmas.
Unethical Practices
These are behaviours which do not conform to the organization/ industry’s
norms, values, beliefs, standards and expectations
Unethical Practices:
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➢ Corruption (misuse of office
for personal gain)
Bribery (by government officers,
other co-employees.
➢ Offers for lunch, drinks
groceries, hampers
➢ Stock holding
➢ Smuggling
➢ Nepotism
➢ Pollution
➢ Tribalism
ENTREPRENEURIAL ETHICS
Entrepreneurial Ethics; all
successful entrepreneurs
employ sound business ethics to
bring the organization to an
enviable position. The essence
of entrepreneurial ethics is to
build entrepreneurs; whose
activities grow wealth in any
society.
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Entrepreneurial ethics are
sound business principles
to be employed by
entrepreneurs or
businessmen as to succeed
in life, thereby creating
impacts in the society.
Entrepreneurial ethics
would lead to positive
attitudes towards raising
successful entrepreneurs,
who would in turn build
entrepreneurial institutions
for societal growth and
advancement.
Akin to entrepreneurial ethics is integrity in business in which a Nigerian
Administrator, Emmanuel Ikazoboh described thus, “Integrity matters a
great deal. It is very important, even when many scorns you, later they
would come back to give you respect”.
When entrepreneurial
ethics are followed, the
entrepreneurs and the
team work with great
passion, determination
and perseverance to
achieve a common
purpose. Sound
entrepreneurial ethics
makes it possible for
business ventures to
handle or tackle
problems when they
arose. Sound entrepreneurial spirit is the way out of un-employment crises
many countries are facing especially in the third world countries.
Entrepreneurial ethics would lead to gradual development of various
sectors in the economy including agriculture, commerce, technology etc.
Without trust, nobody would want to have business relationship with
nobody. Such trust and respects build business empires became credibility
has been built.
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Entrepreneurial spirits
connote remaining
positive with the vision
and mission of an
organization. It
therefore requires great
sense of self-discipline
which grows business
empires from humble
beginning to a larger
conglomerate.
17 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
Sustainability entrepreneurship
contributes to solving social
and environmental problems,
particularly in emerging and
developing countries...They
have in common
Sustainable Development:
Is defined as an
approach to
developing or
growing by using
resources in a way
that allows for them
to renew or
continue to exist for
others. Using
recycled materials
or renewable
resources when
building is
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Sustainable development is the idea that human societies must live and
meet their needs without compromising the ability of future generations to
meet their own needs.
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The Role of Sustainable Development:
Sustainable development is development that meets the needs of the
present without compromising the ability of future generations to
meet their own needs. ... The goal
of which is to achieve
balance/harmony between
environment sustainability,
economic sustainability and socio-
political sustainability.
20 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
How can you support
sustainable development?
Five ways to help reach the
sustainable development goals
in your personal life.
1. Educate yourself and your
co-workers. ...
2. Start fundraising campaigns
at work. ...
3. Promote volunteering and
capacity building. ...
4. Do more good by doing less
harm...
5. Use your connections to
empower changemakers.
t-based approach to identifying
opportunities for improving
environmental quality and capitalizing upon them in the private sector for
profit. "
• Ocean pollution
• Food waste
• Single-use plastic
• Deforestation
• Ecosystem destruction
• Endangered species
Ecopreneurs are usually working towards cradle to cradle product design
and triple bottom line accounting. Profits do not come before the planet.
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Philippine Ecopreneurs
Papel De Letra.s
22 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
Camille Rose Duque-
Albarracin, 39,
@greenelas.ph
Gree-ne-las PH
23 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
In order for all of us to thrive we need to build a more sustainable way of
doing business in which everyone in society can flourish. According to the
Natural Step Framework, a sustainable society must:
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“You must be the change you wish to see in the world.” -Mahatma Gandhi
Ecopreneurs also use the Tripple Bottom Line method in their accounting
systems, which takes into consideration social, environmental (or
ecological) and financial objectives. This means that we look at the bottom
line in terms of how what we produce effects people, planet and profits.
This is also known as the “three pillars of sustainability” and serves to better
our global economy along with Eco-capitalism or green capitalism. Eco-
Capitalism is the view that capital exists in nature as “natural capital” which
everything depends on and therefore, all policy’s that govern people and
business should take into consideration their environmental impact and
sustainability.
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“If we consume resources according to
our standard of living, we’re going to
need another planet.” — Todd Wilkinson
26 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
situation we are currently in,” says Serguei Netessine, Wharton’s Dhirubhai
Ambani Professor of Innovation and Entrepreneurship and vice dean for
Wharton Global Initiatives. “The outcome of the innovation process is very
hard to predict, which is why my favorite quote here comes from boxer
Mike Tyson: ‘Everybody has a plan until they get punched in the face.’
Start-up founders get repeatedly ‘punched in the face’ by market realities,
customer responses, competitors, and so on.”
Many of us are absorbing the blow right now, and it is sending us off
course. An entrepreneurial mindset will help us to adapt. “Start-up founders
try to stay agile and react to information as it comes,” adds Netessine,
whose daughter Victoria, a high school senior, has had to respond to
change in the past several weeks. “In these times of extreme
uncertainty…we need to be ready to change the direction depending on
how the situation evolves.”
27 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
creative thinking and experimentation… they actively look for solutions and
approach problems through a lens of hope and change.”
Summary:
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Academic Honesty Clause:
• Always practice Academic Honesty. Ideas, whether submitted in writing or
shared in class discussions are expected to be the student’s own. Students
should always ensure to make a distinction between their own ideas and
knowledge from information derived from sources (printed and online/or
information and opinions gained directly from other people).
• Follow the set deadline of submission. In the event of not meeting the due date
for any valid reasons, inform the instructor ahead of time.
• Follow the class schedule reflected in your Registration if you have any questions
or if you wish to have a consultation with your instructor.
• Always include your references. In text and a list of all references used at the last
part of your submitted file.
I affirm that I will not give or receive any unauthorized help on these module activities
and that all work will be my own understanding in each topic content and discussion.
_______________________
Signature over Printed Name
RUBRICS: ESSAY
CRITERIA 1 2 3 4 SCORE
Focus/ Main Point The essay The essay is The essay is The essay is
poorly focused on focused on the focused,
addresses topic topic and topic and purposeful, and
and includes includes few includes reflects clear
irrelevant ideas loosely related relevant ideas insight and
ideas ideas
Support Provides little or Supports main Supports main Persuasively
no support for point with some point with supports main
the main point underdeveloped developed point with well-
reasons and/or reasons and/or developed
examples examples reasons and/or
examples
29 | E t h i c a l , S o c i a l a n d S u s t a i n a b l e E n t r e p r e n e u r s h i p
Organization & Little or no Some Organizes Effectively
Format organization of organization of ideas to build organizes ideas
(Paragraphs, ideas to build ideas to build an argument to build a
Transitions an argument an argument logical,
coherent
argument
Language Use, Little or no use Some use of Appropriate use Effective and
Style & of elements of elements of of elements of creative use of
Conventions style style style elements of
(Sentence style to
structure, word Many errors in Contains Uses correct enhance
choice, grammar, grammar, frequent errors grammar, meaning
spelling, spelling, and in grammar, spelling, and
punctuation) punctuation, spelling, and punctuation Uses correct
makes reader’s punctuation with few errors grammar,
comprehension spelling,
punctuation
throughout with
very few errors
No Very little Sufficient Distinctive
experimentation experimentation experimentation experimentation
Originality nor to enhance with language with language
(Expression of the enhancement concepts and usage to and usage to
theme in a of concepts enhance enhance
creative way Does not exhibit concepts concepts
No adherence creativity
to the theme Applies basic Applies higher
creative skills to order thinking
relay ideas and creative
skills to relay
complex ideas
References:
Kuratko, D. (2017). Entrepreneurship: Theory, Process, Practice 10th Edition. Melbourne, AU:
Cengage Learning
Hisrich, R., Peters, M., Shepherd, D. (2017). Entrepreneurship 10th Edition. New York, NY: Mc-Graw
Hill.
https://www.investopedia.com/terms/s/social-entrepreneur.asp
https://www.slideshare.net/YutakaTanabe/defining-the-mindset-of-social-entrepreneurship
https://www.slideshare.net/hfrederick/social-and-ethical-entrepreneurship
http://www.inspireforgreatness.com/entrepreneurship/145-entrepreneurial-ethics.html
https://kwhs.wharton.upenn.edu/2020/04/adapt-thinking-like-entrepreneur-time-crisis/
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