Here are some strategies entrepreneurs can use to navigate ethical decision making:
1. Develop a Code of Ethics: Create a set of guidelines that reflect the core values of the business. 2. Stakeholder Analysis: Evaluate how decisions will impact all stakeholders. 3. Cost-Benefit Analysis: Weigh the potential benefits and costs from an ethical standpoint. 4. Consultation: Seek advice from mentors, advisors, or an ethical committee. 5. Reflect on Long-term Consequences: Consider the long-term implications of decisions rather than short-term gains.