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Entrepreneurs need to set ethics policy

March 12, 2006 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

I recently had dinner with a thriving entrepreneur who asked for advice on an ethical issue. His company has successfully moved into the entertainment industry and is now the leading supplier of a unique form of packaging. The problem: some of the products he is being asked to package run contrary to his personal belief and values system.

The company has nurtured this market for a number of years and is now reaping the benefits of its segmentation efforts. It has no other market that is as well-developed and therefore relies heavily on this particular segment to drive top-line revenue.

His company’s packaging is so unique that customers view his product as a competitive advantage in the marketplace and feel that it helps drive demand. The CEO has turned down some key contracts due to the content of the product to be packaged. As a result, he has opened the door for potential competitors and, in one or two cases, has disappointed his customer.

We talked about several steps that he might take to develop a position that would reflect the company’s values:

By Gary Williams
Brigham Young University

Full Story: http://deseretnews.com/dn/view/0,1249,635190710,00.html

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