Embracing the Ethics of Entrepreneurship:

Q: What are the moral responsibilities of business owners in the modern world?

Business owners have a responsibility to consider not only the economic implications of their work, but the moral responsibilities of entrepreneurship in the modern world as well. This discussion attempts to focus on the ethics of entrepreneurship and explores the various ethical considerations business owners must engage with on a daily basis.

A Discussion on the Moral Responsibilities of Business Owners in today's world In today's ever-evolving market, business owners have a responsibility to consider not only the economic implications of their work, but the moral responsibilities of entrepreneurship in the modern world as well. This discussion attempts to focus on the ethics of entrepreneurship and explores the various ethical considerations business owners must engage with on a daily basis.

Foregrounding Social Issues

As technology has risen, the ability of business owners to have a true global impact has expanded, and more such owners have the moral responsibilities to become aware of the ethical implications of their work. This is particularly pertinent in the rise of corporate social responsibility, with a variety of business models focusing on social change as much as they do on financial goals. Increasingly, entrepreneurs and business owners must face their responsibility to give back to society and ensure their products, services and goals are aligned to ethical considerations.

Refocusing on Employee Rights

In addition to external considerations, entrepreneurs must also ensure that the internal policies and procedures of their business are ethically sound. Employee rights must be respected, and business owners should take the time to ensure everyone is being adequately compensated for their labor, and treated fairly. Highlighting the importance of ethical day-to-day management, it is the responsibility of business owners to set a precedent in their company and ensure ethical policies are implemented.

Reevaluating Desired Outcomes

The responsibility of business owners is twofold, ethical, and economic outcomes must be managed and considered in tandem. As such, the responsibility sits with entrepreneurs to ensure their desired outcomes prioritize ethical considerations, such that their businesses are better for society and employees as much as they are for their income. In conclusion, entrepreneurs have a responsibility to consider not only the economic factors at play in the success of their businesses, but how ethical considerations should be factored into desired outcomes. As this article sought to illustrate, the responsibility of the modern business owner is far more complex than it used to be, with the ethical implications at play crucial to understanding the true success of an enterprise.

The Ethics of Entrepreneurship