In an earlier entry, I highlighted the on-going debate regarding the role of the market versus the state in defining ethics in business. ProfessorBainbridge.com offers an interesting perspective from the Catholic Social Tradition on this debate.
Continue reading Ethics Watchdog: The Market, Government, or….Part II
The latest INC 500 list of fast growing companies is almost ready to be published, and it shows a more diverse group of businesses than we’ve seen on that list in years (i.e., no longer dominated by tech companies). It also shows a remarkably upbeat picture for the economy as seen by these entrepreneurs.
Many would-be entrepreneurs tell me that they are certain that if they could only raise a certain amount of money, everything would be perfect for their start-up. In fact, many say that money is the only thing holding them back. This is one of entrepreneurship’s most common myths. As the classic article in INC illustrates, many a good idea was started with very little money.
The economy is clearly moving into a recovery, as can be seen by confidence of CEO’s and small business owners.
The Business Pundit has a link to an article in Forbes highlighting the academic pedegree of Forture 500 CEO’s. Phil’s comment on this article hits the nail squarely on the head. I would go further, however. Let’s look at the contribution of these firms to economic growth. They can’t hold a candle the entrepreneurs in our economy, who have contributed real job growth and wealth over the past decade!! The Fortune 500 saw no real growth in employment even during the expansion of the 1990’s.
Good article on need for a network of support for growing companies.
Laura Dunham’s research on the importance of building social networks supports the importance of shared ethics in building these social networks. It is interesting that such social networks lead to improved performance for entrepreneurs. But, it is even more interesting that Dunham’s work supports the notion of community development through shared values as this may help integrate entrepreneurship as a mechanism for building and strengthening communities. Clearly of interest for those who adhere to communitarianism or entrepreneurship as a means for economic development.
Inc. magazine has an intriguing feature that highlights the meaning of success for 12 entrepreneurs.
The SBA has released a study on the credit patterns of small business. 80% of small businesses reported using credit of some sort for their businesses. 56% of credit outstanding was through banks. This stresses the importance of understanding how to secure a loan and how to manage a banking relationship.
A study sponsored by MassMutual and the Raymond Institute on women in family-owned businesses reports that women CEO’s of family businesses give a higher proportion of their company resources to charity than their male counterparts. Much of their giving is targeted on community and educational charities.