...Innovation, Ethics, and Entrepreneurship Morgan P. Miles Linda S. Munilla Jeffrey G. Covin ABSTRACT. This paper is a response to Ray’s (2004) recent proposal that the intellectual property rights (IPR) attached to potentially life saving/life sustaining innovations should become public goods in cases where markets are either unable or unwilling to pay for the creation of the intellectual property. Using a free market approach to innovation based on Western moral philosophy, we suggest that treating intellectually protected life saving/life sustaining innovations as public goods will likely reduce social welfare over the long term. KEY WORDS: entrepreneurship, ethics, innovation, intellectual property rights, policy ‘‘For the Scripture says, ‘Do not muzzle the ox while it is treading out the grain,’ and ‘The worker deserves his wages’ ’’ 1 Timothy 5:18. Ray (2004), in a recent critique of Miles et al. (2002), proposes that the intellectual property rights (IPR) generated from any life saving/life sustaining entrepreneurial initiatives should be transferred to the public domain whenever potential users of these innovations are unable or unwilling to enter into mutually beneficial exchange relationships with the creators of the IPR. This reply offers a perspective on why Ray’s (2004) imperative does not maximize social welfare and, in fact, will tend to diminish social welfare over the long-term as a result of lower economic incentives for innovation. Introduction ‘‘Few...
Words: 2833 - Pages: 12
...What is entrepreneurship? 1. Introduction An entrepreneur is one of the factors which very important to promote social and economic development and it are a best combine for the human capital, physical capital and social capital. Entrepreneurs are also engaged in the creative activity of innovators. Entrepreneurship is an entrepreneur, a quality, a way of thinking or an ideology. There are four major elements are significant with entrepreneurial spirit: enterprising spirit, adventure spirit, innovative spirit and social responsibility. Cultivating entrepreneurial spirit can shape the correct social values and create a good environment for the formation of the entrepreneurship. The essay has explained what is entrepreneurship and analysis of this topic. 2. Entrepreneurs Entrepreneurs are those who have innovative and enterprising spirit, and they can organize and utilize economic resources effectively. Usually entrepreneurs dare to take responsibility for business operation, and they have special qualities that create wealth for the enterprise and society. Entrepreneurs can be divided into three types: traditional entrepreneurs, entrepreneurs, and social entrepreneurs. Traditional entrepreneurs have including the creator of private business and outstanding leaders of state-owned business. The former is creating enterprise or make it stronger, and they must assume all operating risk of enterprise. They tend to be the supreme leader of enterprise or have the right of exercise...
Words: 2052 - Pages: 9
...The Monk and the Riddle By Randy Komisar I must admit I knew nothing about entrepreneurship before this course started, I didn’t even know how to spell it (think I still don’t). But while reading this book and as the storyline advances and with each page read I found myself noticing similarities and identifying with Lenny. How do I want to live my life? I know I have pondered on that questions several times in my life, but after reading this book, I find that question which used to arise every now and then usually as a conversation starter, has now become a permanent thought in my mind ending with several exclamation points. Am I aiming towards a deferred life plan or am I really focusing on what I love to do? Am I Lenny 2.0, missing the “Big picture” and only focused on “Results” as my philosophy? Am I overestimating my product or underestimating my market? I started believing that this book would be one of those “How to” (Entrepreneurship for dummies) book, some guy’s lovely memoirs masqueraded as an instruction manual for newbies in the Entrepreneurship business, I was indeed very glad to be proved wrong. The book starts out with an awful pitch from Lenny, which resonated to a recent interview with a head hunter, who gave me feedback post interview in terms of too much energy & overly expressive in my CV (Which he handed back with huge X’s everywhere). Sometimes you need a “Randy” to tell you that indeed you have worked hard but that it is not enough and you can always...
Words: 1014 - Pages: 5
...Session 2- Questions 1. What are some of the advantages and disadvantages of ethical egoism as an ethical philosophy for business managers? (Based on Business Ethics text Chapter 4; tied to course competencies 3 and 4) Ethical egoism is a normative ethical theory that assumes that people have a choice; that is, one is not always psychologically bound to act in one’s self-interest (Cavico & Mujtaba, 2013, p. 47). The idea behind ethical egoism is that the right and moral thing to do is look out for your own self-interest. It does not describe how people behave, rather, it describes how people "ought" to behave (Kang). While this might offer the egoist short-term satisfaction, it could make his/her life worse in the long run because if everyone acted only in their own self-interests, then a society might develop in which people lived under constant threat of attack (Kang). However, according to our textbook, an ethical egoist is not always egoistic or a selfish person. A person can act consistently with ethical egoism by treating people well, helping others, respecting their rights, and evidencing concern for their welfare in order to promote his or her own self-interest in the long run (Cavico & Mujtaba, 2013, p. 53). An example our textbook uses to show an advantage of ethical egoism is that improvements in working conditions for employees or contributions to the community can very well earn the ethical egoist’s approval. Since it can improve performance by decreasing turnover...
Words: 1121 - Pages: 5
...the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of Entrepreneurial Leadership in today’s Dynamic Markets. Entrepreneurial Leadership is a difficult style of leading. Any entrepreneur that practice this style are generally is a risk taker who is willing to start, own, and operate a business Boone (2010). Steve Case (2010) spoke at Stanford University with plans and thoughts on one basic idea in terms of success, business, and any organization. It is important if you are focusing on being an entrepreneur, and it requires the leadership philosophies of people, passion, and perseverance. Former Chairman and CEO of AOL Steve Case (2010) “state these words as foundation of successful entrepreneurship”. Case’s entrepreneurial life continues with his business enterprise transformation. Its mission “is to partner with entrepreneurs in building business that gives people choices, control and convenience in important area of their life” (Case, 2010).Steve Case (2010) also has passion about our country struggling from economic depression, and knows there is only one thing to get it back on track. Case (2010) suggests “being in process and taking a risk and entrepreneurship.” There is a lot that can be done but the leadership can only do so much, it really requires the private division and the entrepreneurs. Entrepreneurship is not just creating new services to improve people...
Words: 1452 - Pages: 6
...Determine how Five Guys’ philosophy sets it apart from other fast-food chains. Have you ever heard of five guys’? Well, I have; I think that five Guy’s is the best restaurant in the United states, while others disagree. Five GHuy’s is different from other restaurant in many ways, but the most obvious is their philosophy. It all started in 1986 when the first Five Guy’s restaurant was built in Arlington, VA within Washington DC, Metropolitan Area. Jerry Mitchell’s establishment of the philosophy is what sets it apart from other fast food chains. The five guy’s philosophy states "Treat the person right, he’ll walk out the door and sell for you.” Now are you pondering yourself on what this means? Well is so then it basically means that if you satisfy your customer and give them what they are looking for then they’ll use one of the most common uses of advertisement word to word. Five guys satisfy their customers by their quality, service, and tidiness. Their burgers are made from all natural products; the burgers are made right in front of you and their natural hand-cut French fries. Analyze the original values for the startup company and how it remains strong today By now I know you are wondering well how did they get started and how are they still running today? When his two oldest sons declared they were not going to college, Jerry Murrell supported their decision. To keep the boys close to home and employed, he and his wife, Janie, used the money intended for their tuition...
Words: 670 - Pages: 3
...* Home * About * Contact * Advertise with us * Submit an Article * You are here: Home » Economics » Entrepreneurship Development in Nigeria Entrepreneurship Development in Nigeria by ivor Ogidefa in Economics, November 29, 2010 The development of entrepreneurship in Nigeria. Entrepreneurship Development in Nigeria started when people produce more products than they needed, as such, they had to exchange these surpluses. For instance, If a blacksmith produced more hoes than he needed, he exchanges the surplus he had with what he had not but needed, maybe he needed some yam or goat etc. he would look for someone who needed his products to exchange with. By this way, producers come to realize that they can concentrate in their areas of production to produce more and their exchange with what they needed. The modern entrepreneurship development in Nigeria started with the coming of the colonial master, who brought in their wears and made Nigeria their middle men. In this way, modern entrepreneurs were engaged in retail trade or sole proprietorship ISSUE PROBLEM One of the major factors that have in many ways discouraged this flow of entrepreneurship development in Nigeria is the value system brought about by formal education. For many decades, formal education has been the preserved of the privilege. With formal education people had the opportunity of being employed in the civil service, because in those days the economy was large...
Words: 681 - Pages: 3
...as the ability to direct or inspire people to attain certain goals. (Pg. 233). From these terms we will try to create a meaning for the terms Entrepreneurial Leadership. However, according the Fernald, Solomon and Trabishy (2005) , Entrepreneurial Leadership deals with concepts and ideas which are often related to problems that are not of an organizational nature. As a result, in the upcoming project, I will discuss how these factors, in relation to Five Guys Burgers and fries. How does Five Guy philosophy sets it apart from other fast-food chains? After evaluating the reading, I think Five Guys philosophy was to concentrate solely on food and serve freshly made food to its customers. This philosophy came under the criteria of Factors of Production. According to Boones and Kurtz (2012) , Factors of Production is defined as the four basic inputs for effective operation: natural resources, capital, human resources and entrepreneurship. (Pg. 7). I believe this is their philosophy because according to the reading, their approach to reaching their customers...
Words: 1256 - Pages: 6
...the oldest five Commercial Banks in the country which started their operations in 1983. The Bank started its journey on 27th March 1983 through opening its first branch at B. B. Avenue Branch in the capital, Dhaka city. It was the visionary entrepreneurship of around 13 local businessmen who braved the immense uncertainties and risks with courage and zeal that made the establishment and forward march of the bank possible. Those sponsor directors commenced the journey with only Taka 3.4 core worth of Capital, which now is a respectable Taka 330.77 core as capital & reserve. City Bank is among the very few local banks which do not follow the traditional, decentralized, geographically managed, branch based business or profit model. Instead the bank manages its business and operation vertically from the head office through 4 distinct business divisions namely a. Corporate & Investment Banking; b. Retail Banking (including Cards); c. SME Banking; & d. Treasury & Market Risks. EMPLOYEES Being one of the oldest private Commercial Banks operating in Bangladesh since 1983, The City Bank Limited (CBL) has come a long way; both in terms its business process and people philosophy. What started as the visionary entrepreneurship of around 13 local businessmen is now one of the leading banks of our country with 2700+ permanent employees. This triumphant journey has been possible only because at CBL we believe in a culture that is rewarding. In line with our Vision...
Words: 620 - Pages: 3
...BLUECREST COLLEGE NAME: SAMUEL OWUSU DANSO COURSE: SMALL BUSINESS MANAGEMENT & ENTREPRENEURSHIP LEVEL: 300 SEMESTER 2 PROGRAM: BACHELOR OF SCIENCE IN INFORMATION TECHNOLOGY(BSc.IT) ASSIGNMENT I AN ENTREPRENEUR INTERVIEW BIOGRAPHY OF THE ENTREPRENEUR Mr. Gabriel Takyi is a young man of thirty six (36) years old born at Abura Dunkwa a district in the Central Region of south Ghana. He is married for the past six(6) years with his magnificent wife Christabel with three kids. Gabriel pass through the junior high school and continued his senior high school at Amenfiman senior high school in Western Region of Ghana and did general arts as a course of choice. Mr Gabriel Takyi is now an entrepreneur who owns a supermarket and petroleum station with branches at Abura Dunkwa, Sefwi Wiawso and Dunkwa – Offin. ABOUT THE SUPERMARKET The name of the supermarket is NASCO supermarket. It has being in operation since 2000 at Sefwi Wiawso in the Western Region. He is mainly into sales of meat, fresh produce, dairy, baked goods and household products. At this current stage, the supermarket and all the goods in it worth about GHC 250,000. HOW THE ENTREPRENEUR STARTED After the SHS education, he didn't get any financial support to further his studies. So he traveled to Tarkoradi as a sailor. Some years back he went to Accra as a sales boy and later on learnt mechanic. So he worked with a friend as a junior mechanic, while working he saves some money. During his experience as a sales boy...
Words: 631 - Pages: 3
...Assignment #1: Entrepreneurial Leadership Some consider Max Weber (pronounced VAA-ber) to be the father of sociology; however, he was also one of the earliest writers in the field of entrepreneurship. Weber viewed entrepreneurs as innovators, independent people whose role as business leaders conveyed a source of formal authority. As Weber discussed, among other attributes, successful entrepreneurs must possess effective leadership skills. For this assignment, you will listen to a podcast of Steve Case, former Chairman and CEO of AOL discussing his views of entrepreneurs. In another podcast you’l l hear James Kouzes, co-author of The Leadership Challenge, describe the five basic points that the best leaders use to motivate. In addition, you will read an article written by Peter Drucker entitled, Entrepreneurial Strategies. Drucker has been referred to as the most influential management thinker in the 20th century. Finally, you will read a conference proceeding from the Association of Small Business and Entrepreneurship that describes entrepreneurial leadership dimensions and offers a new definition of entrepreneurial leadership. Former AOL CEO and Chairman Steve Case have identified three words 1. People, 2. Passion, and 3. Perseverance as the foundation of successful entrepreneurs. He relies on these three P’s (people, passion, and perseverance) to guide his goals, direction, and decisions. Case states that if you have all three P’s in the right balance, almost anything...
Words: 585 - Pages: 3
...Abstract Entrepreneurial Leadership has different definitions as well as different philosophies behind them. Successful leaders such as Steve Case, Peter Drucker and James Kouzes have all developed philosophies, associated attributes and best leadership practices to be successful in today’s fluid marketplace. There are commonalities and a leader can pick portions of different practices or beliefs to form a hybrid philosophy for leading change within their organizations while following Tarabishy’s (n.d.) recommendations for entrepreneurial leadership in today’s dynamic markets. Leadership is comprised of different styles. Organizations are different and so are the traits and styles of its leadership. While leaders want to accomplish the same thing, a successful organization, the methods of authentic, transformational and transactional leaders are different. As organizations and the associated leaderships differ, there are tools and resources that can help leaders in achieving its organizational goals. The Small Business Administration and Counselors to America's Small Business (SCORE) are two organizations that provide resources to assist leaders such as mentoring, starting a business, loans and training. Once leadership styles are understood and a philosophy is created, a leader can then develop a list of best leadership practices that best suits the leader and guides the organization to meeting its vision and goals to achieve competitive advantages and dominance. ...
Words: 332 - Pages: 2
...ENTREPRENEURSHIP CASE STUDY ON SECRET RECIPE PROGRAMME: EXECUTIVE MASTER IN BUSINESS ADMINISTRATION EMBA-Entrepreneurship – Case Study “Secret Recipe” Page 1 Table of Contents I Declaration ..................................................................................................................................... 2 II Executive Summary ..................................................................................................................... 3 III Abstract ........................................................................................................................................ 4 1.0 Company Description .................................................................................................................. 5 2.0 Challenges of Getting Business .................................................................................................. 8 2.1 Startup & Capital ......................................................................................................................................... 8 2.2 Identity or Branding .................................................................................................................................... 8 2.3 Expansion or Growth ................................................................................................................................... 8 3.0 Setting Up The Business ....................................................................
Words: 2935 - Pages: 12
...PAMANTASAN NG LUNGSOD NG MAYNILA Gen. Luna cor Muralla St., Intramuros, Manila COLLEGE OF MANAGEMENT AND ENTREPRENEURSHIP September ___, 2012 The Management __________________________ (Name of the Institution) __________________________ (Address) TO WHOM IT MAY CONCERN : We, the senior students of Finance & Treasury Management (FTM) under the College of Management and Entrepreneurship of Pamantasan Ng Lungsod Ng Maynila hereby respectfully request for the conduct of research / study about the following topics that concern your prestigious company, to wit: 1. Vision, Mission, Objectives, and Philosophy 2. Nature of Business 3. Corporate size 4. Rank in the industry as to profitability, liquidity, and solvency 5. Finance organizational structure and composition 6. Treasury department’s role, function, and delimitation of authority 7. Set qualification standards in the appointment or designation of a treasury manager 8. Treasury manager’s duties and responsibilities 9. Usual management practices that a corporate treasurer undertakes to ensure the company’s profitability 10. How does the treasury manager contribute towards the company’s growth 11. What are the common problems that the treasury manager encounters and how he resolves them? As such, the data and information that you may possibly disclose to us will be utilized in compliance with the terminal requirement of our currently being undertaken...
Words: 265 - Pages: 2
...Syrian Arab Republic Damascus University Faculty of Economics MBA program Organizational Theory Module CREATING Entrepreneurship : Organizational pathways through Transformation Prepared by: Hussam Baravi Content: A. Entrepreneurship, Entrepreneurial Organization: The Concept of Entrepreneurship. Entrepreneurial Organization Factors. B. Into Transformation: The Concept. Slaughters Seven keys to success. 1|P a ge A. Entrepreneurship, Entrepreneurial Organization: In (Metaprofiling, 2013)1 study about the entrepreneurial organizations they differentiated between two concepts, entrepreneurs and entrepreneurial organization. Successful entrepreneurs are opportunists who, through their creativity, drive and vision, create economic or social value. They challenge conventional wisdom by practicing disruptive innovation — innovation that creates new markets through the application of a different set of values. They change the rules of the game by questioning the status quo and upping the stakes. It follows that an entrepreneurial organization can be defined as: An organization that places innovation and opportunism at its heart in order to produce economic or social value. However, for many organizations, this is only a brief moment in their evolution. And according to (Rodrigues et al,2003)2 entrepreneurial organizations, in fact, reflect the basic characteristics of its leadership. Filion shows a set of four indispensable characteristics of an entrepreneur...
Words: 3678 - Pages: 15
