Security scan is checking this page.

Lesson 626 of 1524

The Ethical and Social Responsibilities of Entrepreneurs

The first section of this chapter explores the relationship between entrepreneurship, ethics, social responsibility, and the law.

Practice this chapter

The first section of this chapter explores the relationship between entrepreneurship, ethics, social responsibility, and the law. Sometimes, making a mistake is only an ethical lapse; other times, the mistake also constitutes a violation of the law (e.g., the Equifax case discussed)

Causes such as sustainability/environmental awareness are often important to an entrepreneur and their workforce. At times, ethical conduct and legal conduct may seem intertwined; in other circumstances, they are quite different.

sustainability — practice of preserving resources and operating in a way that is ecologically responsible in the long term. mistake — only an ethical lapse; other times, the mistake also constitutes a violation of the law (e.g., the Equifax case discussed). ethics — standards of behavior to which we hold ourselves in our personal and professional lives. integrity — adherence to a code of moral values implying trustworthiness and incorruptibility because there is unity between what we say and what we do.

Worked example

What does “sustainability” mean in The Ethical and Social Responsibilities of Entrepreneurs?

  1. 1Use the wording this chapter gives for sustainability.
  2. 2The book says: practice of preserving resources and operating in a way that is ecologically responsible in the long term.
  3. 3Do not use the meaning of mistake. That term means only an ethical lapse; other times, the mistake also constitutes a violation of the law (e.g., the Equifax case discussed).

Result: practice of preserving resources and operating in a way that is ecologically responsible in the long term

Why. That is the meaning this chapter gives for sustainability.

Do not swap sustainability and mistake. sustainability means practice of preserving resources and operating in a way that is ecologically responsible in the long term. mistake means only an ethical lapse; other times, the mistake also constitutes a violation of the law (e.g., the Equifax case discussed).

Practice margin

This chapter

A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.