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Spring 2009

ISSN 0890-913X

Volume 24, Number 2

Categories: Business | Spring 2009

What Business Ethics Can Learn from Entrepreneurship

Stepher R.C. Hicks, Rockford College

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TheJournalofPrivateEnterprise24(2),2009,49-57WhatBusinessEthicsCanLearnfromEntrepreneurshipStephenR.C.HicksRockfordCollege,IllinoisAbstractEntrepreneurshipisincreasinglystudiedasafundamentalandfoundationaleconomicphenomenon.Ithas,however,receivedlessattentionasanethicalphenomenon.Muchcontemporarybusinessethicsassumesitscoreapplicationpurposestobe(1)tostoppredatorybusinesspracticesand(2)toencouragephilanthropyandcharitybybusiness.Certainlypredationisimmoralandcharityhasaplaceinethics,butneithershouldbethefirstconcernofethics.Instead,businessethicsshouldmakefundamentalthevaluesandvirtuesofentrepreneurs—i.e.,thoseself-responsibleandproductiveindividualswhocreatevalueandtradewithotherstowin-winadvantage.JELCodes:A12,A13,L26Keywords:Entrepreneurship;Ethics;VirtueethicsI.ThreeCharacterTypes:Carly,Tonya,andJaneEntrepreneurshipisincreasinglystudiedasafundamentalandfoundationaleconomicphenomenon.Schumpeter(1950)andKirzner(1978)werepioneers,andtheirsuccessorshavegeneratedasizeableliterature.Yetentrepreneurshiphasreceivedlessattentionasamoralphenomenonand,correspondingly,lessattentioninthebusinessethicsliterature.Considerthemoralstatusoftheentrepreneurbycontrasttotwoothertypes.1.Carly:Asastudent,Carlyworkedhardandreceivedgoodgrades.Upongraduationshetookajob,butatthesametimesavedmoneyandworkedonherbusinessplan.Whenshewasready,shetooktheentrepreneurialplungeandstartedherownbusiness,whichshedevelopedsuccessfully,andthen,afewyearslater,soldfor$10million.Sheisnowlivingthegoodlifeoftravel,buildingherdreamhome,raisingherfamily,andmanagingherportfolioofinvestments.2.Tonya:Tonyaalsoworkedhardincollegeand,upongraduation,tookajobinafinancialinstitution.Shediscoveredaflaw49

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Metadata [hide]

Title	What Business Ethics Can Learn from Entrepreneurship
Authors/Creators:	Stepher R.C. Hicks, Rockford College
Year:	2009
Volume:	24
Number:	2
Pages:	49 - 57
Publisher:	The Association for Private Enterprise Education
ISSN:	0890-913X
Document Type:	Business Ethics
Keywords:	Business ethics, Entrepreneurship, Ethics, Philantropy, Trade, Austrian Economics, Virtues, Social Institutions

Citation:
Hicks, Stepher R.C. / 2009. "What Business Ethics Can Learn from Entrepreneurship." The Journal of Private Enterprise, 24(2): 49-57.