FEATURE PAPER

Does Size Matter? Ethics Applied To Small Businesses Compared To Large Businesses

The following paper was written by Kevin Cooksey & Dolores Kuchina-Musina from Christopher Newport University. It was presented at the 2010 Small Business Institute Conference.

Abstract

Considering the normative statement that both large and small businesses should follow the same ethical and moral standards, this paper analyzes the perceptions of individuals based on the relative ethical behavior of small business as compared to large business. The study of ethics focuses on the differences between what is right and what is wrong in society which affects both small business and large business due to their obligation to the public and their stakeholders. Both entities are guided by the same standards and both are expected to meet all legal regulations and ethical standards. The analysis employs surveys to gauge the public's perceptions of the ethical decision making by management in both small business and large business. The survey also analyzes the role of those ethical decisions within scenarios and their impact on the individuals' patron behavior in small business as compared to large business. Statistical analysis has been utilized to test the authors' overall hypothesis that the public is generally less concerned about ethical decision making of small business relative to large business. The implications of these findings for both large and small businesses are provided with the analysis and suggestions to correct the disparity between both entities.

Introduction

During the past decades it has been evident that ethics has become the hot topic in business. However, much of the talk is not comprised of all types of business it involves primarily the large corporations. Large corporations such as Enron have caused much grief to those around them and everyone that they employed. Due to this reason regulations such as the Sarbanes- Oxley Act have been enforced to hold large businesses accountable While these regulations have focused solely on large corporations, efforts to regulate small businesses have been small. It is estimated that small businesses make up over 80% of all business in the United States of America. That is a huge sector which is unregulated due to its size. While the adverse actions of each entity do not do great harm to the economy; the cumulative damage of all components of the group could have devastating impacts on the general economy.

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TIP OF THE WEEK

Wealth Magnet 19: Clarity

One of the attractants of wealth is respect for it,and one of the ways you can show that respect is by paying attention to and knowing the vital statistics in the source of your wealth, your business or businesses. You may recall the line from Kenny Rogers' song about never counting your money while sitting at the table 'cuz there's time enough for counting when the dealing's done. That was advice for gamblers, and it's based entirely on superstition. And the gambler dispensing the advice was dead broke. The most successful, wealthiest entrepreneurs I know and have known are on top of the important numbers.

In The New Economy there is less margin for error than ever.This does not mean you become the beady-eyed, tight-fisted bean counter worrying over the cost of paper clips, nor does it mean being a cheapskate always looking only for the cheapest bargain-which is, often, a false bargain. Entrepreneurs make poor accountants, and I'm not suggesting becoming one. And excessive anxiety about money attracts the polar opposite of wealth. On the other hand, you can't manage what you can't measure. Knowing THE RIGHT NUMBERS and using them in live-time decision-making (not historical analysis) is both pragmatic and motivational.

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Do you see Enterprise as a transformational force for people and communities? Do you support Enterprise Promotion, as a practitioner, funder or policymaker? Are you proud of your own achievements? Do you want to share your successes? Would you like to learn from the experience of colleagues around the World? If you can answer YES to even one of these questions, you should come and speak at IEPC 2010, in Harrogate, North Yorkshire from 8-10 November 2010.. For More Information,Click Here

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The Baylor University Entrepreneurship Program and USASBE are jointly sponsoring a student case writing competition in conjunction with USASBE's annual meetings beginning in 2011 at USASBE's 25th Annual Conference to be held January 13-16, 2011 in Hilton Head, South Carolina. This is an innovative international event that supports and encourages undergraduate and graduate students who wish to engage in case research and case writing. Submitted cases are suitable if they advance the field of entrepreneurship, broadly defined, and contribute to an understanding of entrepreneurial phenomena. For more information,Click Here

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