Developing Business Ethics and Social Responsibility

Oct 21, 2016 4:17:00 PM / by Gaurav Bhattacharya

The business of corporate social responsibilityHard Work Beats Talent

It is easy to look at popular or rather a successful entrepreneur and imagine how easy it is to try entrepreneurship. It may be easy for some but like most self-made entrepreneurs will tell you, nothing is ever easy in the business world. One has to sweat. One has to also fail several times. Fortunately, it is such setbacks that always leave one with vital entrepreneurship lessons. It is pretty much like sweating to tilt a barren land until it becomes fertile. You then sow the fruits of your toil and feel validated. That is what social entrepreneurship is all about, establishing business ethics and social responsibility. However, there is a slight angle to it that people tend to overlook. Social entrepreneurship has everything to do with finding problems in a given society and coming up with solutions for the said problem. That sounds easy, but it is deeper than it sounds.

Qualities Of An Entrepreneur: Establishing Business Ethics and Social Responsibility

Hard work is of course, the most outstanding quality one needs to have as a social entrepreneur. But over and beyond hard work lies several other qualities that are equally important, such as business ethics and social responsibility. They include:

  • Persistence – Picture this scenario. You come up with a perfectly planned solution. You try to execute it and it fails. You try again and end up with the same result over and over again. Most people will at that point give up and try something else. Your ability to remain persistent and try again and again until everything works out just fine will however, set you apart.
  • Quick thinking- like already hinted, social entrepreneurs always look for solution to pressing needs in a given society. That cannot be possible for slow thinkers. It is easy to understand why. Some problems are unprecedented. They happen out of the blues for the first time. They call for quick, long lasting solutions. One therefore needs to come up with practical solutions and add a business angle to the solutions. Your ability to think quickly and offer a solution will therefore save the day and see you smiling all the way to the bank.
  • A creative mind – creative minds always come up with creative solutions. Unfortunately, so many budding social entrepreneurs seem to think or rather imagine that being creative is a complex issue. It isn’t. More often than not, the most pressing problems in a society call for simple solutions. So being creative has little to do with how hard one can think.

 

Challenges of an Entrepreneur

Expect challenges as a social entrepreneur. Like already hinted, entrepreneurship is not easy. In fact, it's often described as a field that is not for the faint hearted and requires an understanding of business ethics and social responsibility. With that in mind, expect the following challenges.

  • Capital – It stands out as the main challenge social entrepreneurs always face. That explains why most startups often fail to take off. Money, as you will find out, is always needed when one needs to make more money. Fortunately, there are several solutions that can come to your rescue. You can try crowd funding online. People and even investors will always know of a good business plan when they see it. so come up with a good plan and you certainly won’t have a hard time looking for capital.
  • Paperwork issues – Documentation and bureaucracy in some countries can easily delay a project by a significant margin. Unfortunately, there little one can do to expedite some processes. Your best bet is to find out how long it will take you to register a business wherever you want to start it and start the filing processes on time. Be sure to comply with everything needed, from taxes and other monthly deductions to minimum wage issues and other important business ethics.
  • Naysayers –People, your friends may laugh at you and slam your project or idea as crazy or too over ambitious. Don’t let that derail you. Stay focused. This may sound obvious, but it happens. The easiest way to get over it is to find motivation from other social entrepreneurs who faced the same challenges and still went on to become successful.

Remember to enjoy what you do. Love your ideas and show enthusiasm. In other words, believe in yourself and what you do. Then above all else, be kind to everyone you meet. That way, your pursuit of success as a social entrepreneur will be easy. You will then, make the work a better place without struggling.

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Topics: Corporate Social Responsibility

Gaurav Bhattacharya

Written by Gaurav Bhattacharya

CEO and Co-founder @ InvolveSoft. Passionate about technology impacting the world.