COMMON ENTREPRENEURAL ETHICS FOR A SUCCESSFUL BUSINESS OPERATIONS

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INTRODUCTION

A healthy entrepreneural spirit is an inevitable option for any country facing unemployment crises, especially the third world developing countries.

To be a successful entrepreneur you must operate on some sound business ethics. If there are laid down entrepreneural ethics, businesses can tackle any difficulty when the need arises.

Entrepreneural ethics are codes of conducts which entrepreneurs should employ in other to attain greater entrepreneural success. Ethical entrepreneural practice helps to promote positivity with the organizational vision and mission.

ETHICAL ENTREPRENEURAL PRACTICES

INTEGRITY:

Integrity is one of the most important ethical behaviour an entreprenuer must cultivate for an excellent business operation. In your business, make your word your word. Treat others as you would want to be treated.

VALUE YOUR CUSTOMERS:

A company is nothing if it doesn't have customers. Serving your customers well is part of your ethical responsibilities. A focus on your customer reinforces your responsibility to the market.

BE RESULT ORIENTED:

Be result oriented, but don't pursue result at all cost, rather work towards achieving results within the confinement of your company values. Have in mind that results are not just attributed to numbers, rather they are benchmarks and lessons for the future as well as goals for the present.

BE A RISK TAKER:

The entrepreneural journey is the journey of risk taking. To build one of the great companies today, you must be innovative and a risk taker. Investments itself is a risk. So you've got to prepare your mind to take some dangerous risks.

PASSION:

To build a great organization, there must be a good passion for it. You can only communicate your passion to your employees. Great organizations comprises of people who has passion for what they do. Passion is contageous, when your employees sees your passion for the work, they will run with same vision.

PERSISTENCE AND CONSISTENCY:

Consistency and persistence is one of the most important ethics to cultivate. Persistence will keep you even when it is not working, you keep going even when it seems as though there is no result. Persistence and consistency is tied to passion. When you have passion for something, you will be consistent with it until it works. Believe in yourself and believe in what you are doing.

CULTIVATE A TEAM SPIRIT:

A team spirit will help you carry all your employees along. Don't play preferential treatment among your employees. Be a leader and not a boss. Be their source of inspiration and not just a supervisor. Motivate your employees in several angles such as in communication, compensation, renumeration and salary. If your team is happy, they will put in their best.

All these and more are some good ethical practices an entrepreneur must cultivate for a greater successful business operations.

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