The Entrepreneur: Twenty-one Golden Rules for the Global Business Manager

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This is the crux of the matter. It can be recalled that an incident occurred where a top executive in the oil sector was removed from office simply because he accepted a gold wrist watch as a gift.

This suggests that there is a state of almost complete ethical and moral breakdown which raises questions about the moral value of public officials and enterprise managers in our society. There is a question of whether ethics significantly affect our national development? It is a popular fallacy to suggest that Nigerians are generically corrupt. Nigerians are corrupt because the system in which they live in celebrates and glorifies corruptly rich people. Corruption and its impact will cease when it is made difficult and inconvenient through strict application of the sanctions without discrimination as to who is involved.

This evil for the resolute will of a serious and determined government committed to confront corruption and unethical practices in its entire ramification. This is possible, after all, why do Nigerians who live or travel overseas not exhibit, the same corruption which they do in Nigeria with impunity, unethical behaviour or tendencies. Because they will be apprehended, investigated and adequately sanctioned.

As we mentioned earlier, the public perception of a low level of ethics in business is a major barrier to entrepreneurship. How can entrepreneurs become models if the public equates profits with theft? Is this not the moment of greatest need to bring the ethical dimension of entrepreneurship to the attention of the public as well as of the business community?

The Entrepreneur Summary

Let us first discuss what is meant by business ethics. There are clearly wide variations in ethical standards between cultures and countries and probably even greater differences among entrepreneurs in a given country. One way of analyzing these variations is to define different levels or stages of ethical consciousness in a business. This approach parallels leading theory of moral development by Lawrence Kohlberg. However, to place this in a business context, the levels might be described as follows Starcher, :. So what does all of this have to do with entrepreneurship in developing nations such as Nigeria?

Business ethics has a lot to do with profits and survival. As borders break down, as competition increases, as the ability to compete and survive depend increasingly upon quality, faster and more reliable delivery, and customer service, values such as honesty and integrity take on a new significance. Far from accepting the commonly held theory that a period of unscrupulous and irresponsible personal wealth creation is essential to jump-start failing economies, I maintain that there is an immediate need for entrepreneurs to apply the values described above to their relationships with each of the stakeholders in their enterprise.

It exists also in more developed economies where materialism is rampant and moral values are underdeveloped. So, why entrepreneurs should change today and decide to climb up the ladder of ethical consciousness? The trends are very clear: moving toward a free market system, privatization of major parts of the economy, new competition in most sectors, deregulation, new trading partners in the West, new market and consumer demands, new environmental constraints, and an increasing demand by the public for more responsible behaviour on the part of business and government alike.

Those entrepreneurs who are able to understand and adapt to these changes will create new wealth for themselves and for society as well Starcher, According to Baridam and Nwibere , many factors create a climate conducive to unethical behaviour:. A successful business is like a well-built house. Good ethics represents a solid foundation. To build a strong successful business, lay the following behaviour over an ethical foundation;. Most ethical codes address subjects such as employee conduct, community and environment, shareholders, customers, suppliers, contractors, political activity and technology.

To make ethical code effective, Nigerian managers must;. Ethical codes should always match with practice, or it becomes a ridiculous exercise in futility. When reality differs from the statement, the statement becomes a joke to employees rather than a guiding light; e. At the societal level, entrepreneurship significantly influences the sort of lives we will live in the future.

To the extent that our lives are shaped by market activity, changes in the way we will live are driven by entrepreneurs.

The Entrepreneur: 25 Golden Rules for the Global Business Manager

These visionaries create and commercialize new products and services for which there has not been in the market previously. Furthermore, the ethical influences of entrepreneurship also have more immediate and individual impacts. Such groups of individuals support the emerging venture, place much at stake and put themselves in a position of great vulnerability to the entrepreneur. Relationships formed and developed under such circumstances are necessarily imbued with strong ethical dimensions in terms of the roles and responsibilities. Given the tremendous complexities involved in operating in new, untested areas and at the edge of knowledge, entrepreneurship requires entrepreneurs to make important, and as we have seen, often ethical, decisions under conditions of extreme uncertainty, ambiguity and ignorance.

As a result, the entrepreneurial process places extraordinary ethical demands on entrepreneurs, whether they realize it and act on it or not. In sum, entrepreneurship has ethical concerns richly woven throughout. The Nigerian manager of today needs to create an ethically healthy climate for his or her employees, where they can do their work productively and be able to objectively differentiate right from wrong.

The idea that commitment to ethical decision-making could be essential to corporate success should be emphasized within the organization. This will have the effect of shifting the focus from individual development towards organizational interests.

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With the development of a more ethical organizational culture, the question of ethics ceases to be an individual issue, instead of becoming a corporate responsibility. In their quest to be socially responsible, contemporary organisation seeks to concurrently be profitable, obey the law, engage in ethical behaviour, and give back through philanthropy, they will face new and continuing ethical challenges. According Ordu and Okafor, , the following pose challenges to ethical management in organisations: Organisational culture, presentation, turnover and perception.

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These are further explained below. As the business world continues to become more global, you will find a diverse set of cultural backgrounds in the staff composition. These can be differences in religion, nationality or beliefs based on life experiences. Ethics can often come into conflict with cultural backgrounds because what is perceived to be ethical in one nation may offend those members of staff that come from a different culture.

This can pose a great challenge. For example, creating an in-depth presentation on one particular set of religious holidays, while glossing over others, can offend some people. The written policy many be comprehensive, but the presentation can cause problems. Employee turnover can create gaps in the ethics policy if it is not reviewed on a regular basis. Giving new employees printed information to review without backing it up with extensive ethics training can allow the information to be misinterpreted or forgotten.

Without constant reinforcement of the ethics policy, it can become weakened due to employee turnover. It can be difficult to gauge how the public will react to the way a company treats its employees, the charitable contributions a company makes and how the company sells and presents its product to the public. The shifting wave of public opinion can often become a driving force with the ethics policies, but trying to keep up with public perception can become a difficult and frustrating process.

Other factors that may also cause challenges are Technological advancements, that is Information and Communication Technology ICT boom, Moral shifts in society etc. Considering the fact that contemporary organization faces with many challenges in upholding ethical management practices, practitioners and managers are expected to embrace options such as accountability and responsibility, revitalizing the culture of excellence, encouraging the establishment of ethical organization, orientation and a host of others as good measures to forestall standard practices in Nigeria.

This measure will not only make contemporary organization to be socially responsible but would assist them to also engage in ethical behaviour and practices, obey existing laws and identify and practice what is morally right and wrong.

Above all, there will be emergence of ethical management practices as well as growth and attainment of organizations in Nigeria. There are a number of things to be done to encourage and sustain ethical management practice in contemporary organisations. Some of the things as a way forward are enumerated below:. The study investigated the relationship between ethical culture and employee productivity in the Rivers State…. Corporate governance disclosure has become the buzz word for countries in developing economies, with the….

September 18, August 31, September 5, August 27, March 31, August 1, Harvard Ironkwe, U. International Journal of Innovation and Economic Development, 1 3 , pp. APA Ironkwe, U. International Journal of Innovation and Economic Development, 1 3 , Vancouver Ironkwe U, A. International Journal of Innovation and Economic Development. Ordu Promise. Chicago Ironkwe, Uwaoma, A. Suggested Articles.

1. "Management" includes self-management.

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