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Spring 2009
ISSN 0890-913X
Volume 24, Number 2

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,businessethicsshouldmakefundamentalthevaluesandvirtuesofentrepreneursi.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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