Everybody is now worried about ethical part in business.Great leaders organising events on ethics. They are participating conference,forum, conducting workshop to encourage ethical behaviour amongst rising youths.
Ethics and entrepreneurships!. Both are inter related,string with each other!!!
So what are Business ethics. Are they solutions or marketing or an idea?
Business Ethics are rules or code of conduct of a business for a business within a business within a country.
Great ethical leader like Mahatma Gandhi saying that “politics without principles, wealth without work, pleasure without conscience, knowledge without character,commerce without morality, science without humanity, and worship without sacrifice “‘ are 7 seven social sins
Ethics needed in every aspect of business like during set up of an new venture,introduction of product/service,dealing with customers,at the time of delivery product/service etc.etc. ..Even during social media,. Even bloggers do blog with some ethics so that nobody hurt, no violations arise .Do you know email etiquettes and follow accordingly so that nobody offended ? During networking, socializing one`s business everybody has to follow the correct business ethics or principle for a balanced environment.
Some great Ethical companies are Google, Macdonalds, General Motors etc….
What is Google ethics ? Of course “Don`t be EVIL “
What is facebook ethics that people are liking ?Why people making it worlds largest social networking site ?
Ethical Leaders : Who are those ethical leaders now revolutionizing the world of business ?
Now ethical leaders are more and more needed to make a world of business meaningful.
WHAT are those ethical business words ? Dedication, trustworthy, sincere,honesty,commitment,quality,permission,efficient, authorised, integritiy, co-operation, respect.. etc. Do you agree ?
Business Ethics a most important part of business.Without it business will sure one day out of market or death .Entrepreneurs should aware of this and act according to it for the benefit of masses vice-versa. Its a crime to do business without ethics.
Business ethics is a term to be acted within limited boundary envisages by govt. or by company itself.A business can flourish within an good ethical environment supported by masses.
Business rise, strive, expand because of high ethics, businesses got down because of lacking of ethics. Point to be noted.
YOU have some home work or assignments to do .
Q.1 WHAT is your code of ethics in business if you are an entrepreneur ?
Q.2. HOW are you going to revolutionize in ethical revolution within your business ?
Q.3. WHY and WHERE are you going to implement ethics in your business ?
Q.4. HOW are you going to do your business ? Ethically or unethically ? Choice is yours.
Q.5. WHO is your ethical role mode leader ?
Q.6. What are you doing to inspire ethical behaviour within your business everyday/day by day?
In fact, YOU got what YOU are. Industriousness is nothing but hard work, there is no easy way.
Your business may be under investigation OR under testing ? Choice is yours .
A sophisticated, enthralling word. An interesting word to be explored for a great entrepreneur revolution!!!
Do you know when did this innovation word get popularity ?
Why is innovation important in a venture ? Without innovation a venture is not a business venture. Innovation in product development or service is now an important strategy in an organisation or company. Though it is not an easy process but it can happened through some roles in an creative environment.
Innovation is one survival strategy for start-up and must do.An office always needs renovation for productivity, healthy environment likewise a company or an organisation earnestly required innovation to thrive in the market.
“Making innovation happen is a craft and an art; understanding how it happens is a science. Innovation is grounded as deeply in psychology and culture as in science and technology”. ..[David Nordfors is co-founder and executive director of the VINNOVA- at Stanford University.]
Douglas Merrill,Google CIO saying that innovation at Google is ” an engine of innovation, universally accessible , useful Information with map” .
Why Apple is still standing as Apple Inc. Are you observing Nokia mobile innovation ? Dell is now not just a computer! Dell co. shining with lots of business solutions and services. Vast amazon.com is coming with kindle, an ebook reader.What today`s Google inc., if they have not been investing on product innovation ?
Sillicon valley entrepreneur Guy Kawasaki explaining Innovation in terms of successful product innovation.Kawasaki saying that there are four qualities that can lead a successful product innovation. They are Deep, Intelligent, Complete and Elegant.
DEEP : Everybody will accept a product or service, which is designed with deep understanding and full of meaningful purposes.A product should not be just a name. The more deep relationship with the customer ,the more great product or service will be and evolved in the market.
How are you involved in your product innovation ? Why they are for ? Why they should be in the market ? Are they losing their market amidst competition?
Intelligent : Your product or service can be intelligent through innovation. An intelligent product is a combination of features which can provide some extra helpful service at right time . Be it for your home or for your office or for your individual journey.
What is your intelligent product ? Today`s mobile with GPRS system,PDA, blogging etc.etc are just intelligent product innovations.
Complete : A complete product or service is like 100% satisfaction guaranteed with all the expected and concerned valid functions .Nobody will buy a product through a website, if, it is not included customer care service, contact number, helpline( 24 hour OR 10am to 6 PM etc.), service at instant etc. etc.
Have you tried Macdonald pizza and their instant service at just one call from your seating place ?
Elegant : Elegant products are beautiful, sophisticated structures, designed with easy to operate and handle at ease.They are alwayes in more demand.
Do you like the innovation mantra ” A lot can happen over a cup of coffee “
S What is the strength of the product or service that can be a great revolution ? W What is the weakness that may lead to the death of the product or service from the market ? O What is the opportunity that are lying ahead to work ? T What threats may appeared or are whirling around the venture ?
SWOT analysis is being done overall one`s every business aspect in business terms for development further. It is a must for every start-up success.
All these four can altogether be a great tool of success in any dream venture, if you mind it.
Do SWOT and shoot to the sky! Maybe amongst stars one day!
Even a general man can be one genius by implementing a little SWOT analysis on his life.
What may be the SWOT analysis ,If the venture is about to product sale or service provider ?
Just one simple example of SWOT analysis of one organic products as below :
Strength : Product is in very demand because of its organic character . It is made up from plant,vegetable . NO harmful chemical, pesticides etc.Organic products are safe.Everybody can use like kids,big man, old man,women,patients. Weakness :Organic products are short lived means expired soon.Lack of infrastructure like land,water etc… Opportunity :Future is bright .Global market is lying and can go beyond.Can lead to innovation of other products in line with the product. Threat : Other latest green organic products are rising, can kill its present demanding market due to same.
So, now what ? Are you going to do SWOT analysis ? Are you going to provide remarkable product or service to masses ?
What are the skill set required by a tailor to run a tailor shop ? What skill set required by a beautician to run one beauty parlor ? And the so easy answer one is tailor needs tailoring skill, beautician needs the art of beauty ( which can be obtained by doing courses at beauty institute).
What are the skills that needed to run an enterprise ? Is it entrepreneur skills ? But what are those entrepreneur skills ? Where they can be learned ?
What are those entrepreneurship skills ? Is it decision making or communication skill ? Is it Marketing skill ?
Entrepreneurs are risk taker.Without risk there is no life of an entrepreneur.Entrepreneurs are like risk manager.They have the right solutions at par that people are daring to go near about the risk that they think may cause the business down.How they handle risk ? One such skill of entrepreneurs are decision making.Not an easy task amidst turbulent, turmoil ,uncertain situation.But Entrepreneur has to decide the right thing at the right time .They can. They have lots of ideas to go for one right decision . Their motto : DO or DIE .
Another skill is communication skill.Entrepreneurs are excellent communicator.They communicate effectively about their vision.They know how to approach and to whom.Accordingly they march forward and take their dream into a great reality at ease. Can you do that ?
Entrepreneurs are organizers.They have great organization skill which is most important to established an full fledged organization.They are the creator ,preserver . Entrepreneurs have great leadership skill.They can lead ,motivate purposefully, meaningfully . They dared to explore the unknown, hidden and succeeded ahead.Their possibility is in the word impossible .
Entrepreneurs are great innovators. Creativity is like their inborn character.They use their creativity skill on whatever they ventured out and alas great outcome happened!!!
Entrepreneurs are equipped with abundant resources.They know the utilization of best of the best of product available at surrounding which are general seems to be useless, worthless.They are conscious enough about their surrounding environment and accordingly step forward .
AND on and on and on………………………..
But you need to know some enterprising skill to set up and run your dream enterprise. Such skills are like risk management, financial skill,Marketing and sales aspect ,decision making etc ….
Risk Management : Risk may come in the financial sector, maybe in your operation level,maybe in sales aspect of your business. You should beforehand prepared with a solid risk management strategy to face it and overcome at ease.
Financial Management :Business is all about money.If there is no strategy about cashflow management ,lead to end of the business which is yet to blooming and you are working hard day and night for it . Marketing management :After money its marketing that going to lead your enterprise thriving.Without marketing, your business is nowhere to go.Must have strong marketing strategy to market positioning your product or service .Be ready, aim and fire.
Today`s context ,Enterprise should be equipped with skills like networking , social media and latest technology. Some new aspects like sustainability , go green should also be added. Depending on your business type like if enterprise is about service provider or product selling, running your type of enterprise, enterprising skill set will be varied accordingly.
But, inspite of all these skills ,one skill is most important and that is invisible .Do you know what it is ? fear management. So get rid of it at first.
You got stuck amidst your entrepreneur journey because of fear. Am I right ? Its ok.
You are baby!!! Yeah, if I am not wrong.Like a baby you are crying for help .What will happen to my venture ? why not yet able to generating cash ? What should I do? Whom should I approach ? Where to go for help ?……………….
Even silicon valley entrepreneur feared. How they overcome ?
Please do not get shy asking for help. Ask for help wherever,whenever,whatever needed.
Fear may turn into serious, even stabbed your venture at first stage. Then what about your dream venture ? Opportunities are coming and going in front of you but you are got stuck.
What are the ways to overcome fear ? Face it .Just face it boldly.Never ever surrender. Either move forward or left the karma field. Which one is yours ?
Venture Capitalist Guy Kawasaki says should have a mantra and meaningful to start your dream venture. Keep chanting your mantra. And there is the way .
Fear is within you.You have to decide and conquered the war of entrepreneurialism.
You may find lots of way to overcoming of your fear, if you are enthusiastic enough.Real lab is around you.
Such one is action picture by great actor Jackie Chan, the baby technique used to conquered over his great enemy in the film “FEARLESS HYENA“.
When you will be fearless and get revolutionized on entrepreneurialism?
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