The If I can…Ethical Entrepreneur Values Based Approach
HOW WE THINK, HOW WE RELATE TO OTHERS AND HOW WE ACT IN BUSINESS
We are going to look at the subject of the key management functions in running an enterprise and how these functions can be performed more effectively when guided by natural human values such as Honesty, Courage and Determination. When these values are followed i.e. lived, important business values like Credibility, Innovation and Efficiency manifest, which help make possible a more sustainable, responsible business.
Here is how the difference between these values are presented by the UK Institute of Business Ethics:
HOW WE THINK
We need to establish a stable and balanced state of mind when making decisions.
The Related Values:
1. Mindful Awareness / Being Present
2. Stillness / Inner Silence
3. Calmness
There needs to be clarity about the vision, values and long term, sustainable objectives of the organisation.
The Related Values:
4. Service
5. Duty/Responsibility
6. Courage/Fearlessness
To maintain clarity and balance, there needs to be freedom from excessive desires, habitual reactions and claims for success/failure.
The Related Values:
7. Temperance/Moderation
8. Self-Control
9. Detachment
When these values are lived the important Business Values that result are: Decisiveness, Innovation, Adaptability
HOW WE RELATE TO OTHERS
We need to establish a harmonious work environment.
The Related Values:
10. Respect/Tolerance
11. Cooperation
12. Compassion/Empathy
It is crucial to be truthful and transparent and in all dealings -internally and externally.
The Related Values:
13. Truth/Honesty
14. Integrity
15. Trust
Energy and resources need to be invested in empowering staff to enable the full development of their talents.
The Related Values:
16. Patience
17. Freedom
18. Generosity
When these values are lived the important Business Values that result are: Solidarity, Credibility, Enthusiasm.
HOW WE ACT
Energies need to be focused with the right priorities and in the right manner to convert intentions and plans into effective action.
The Related Values:
19. Justice/Lawfulness
20. Discrimination
21. Harmlessness/Kindness
The inevitable challenges, mistakes and uncontrollable external factors need to be dealt with appropriately.
The Related Values:
22. Equanimity
23. Determination/Perseverance
24. Tolerance
Most importantly, inspiring leadership must be provided, one which sets the right example at all levels.
The Related Values:
25. Selflessness
26. Love/Caring
27. Humility
When these values are lived the important Business Values that result are: Efficiency, Reliability, Quality
THE RESULTS
For all the Stakeholders: Employees, Customers, Suppliers, Investors, the Community, the Nation, the Universe and Yourself
The Related Values:
28. Happiness
29. Peace/ Contentment
30. Unity
And the resultant Business Values which are recognised by all: Productivity, Profitability, Excellence
It produces conditions suitable for the development of an effective management team that leads, organizes and teaches effectively. The result is what we will call the Six Qualities of a Good Company:
1. Satisfied, loyal staff & customers
2. Well rewarded investors/shareholders
3. Valued and reliable suppliers
4. A Reputation as a good place to work
5. A Trusted brand name
6. Admired and respected in the community