Ethics and Entrepreneurism

Ethics and Entrepreneurship
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Ethics and Entrepreneurship
Companies have to be responsible for the communities they operate in. This entails acting in a manner that considers the community's interests and needs and does not do any harm. Companies have numerous options which they can use to gain trust and show that they prioritize corporate social responsibility. According to Colangelo, the best way a company can gain trust is by representing their core beliefs and values in the community they operate (Grand Canyon University. n.d.). The community should be aware that the company is keen to meet its demands and not hide anything (Sehgal et al. 2020). The company can choose to support community initiatives that benefit the community or any approach whereby the company gives back to the community without expecting anything in return. Microsoft is an example of a socially responsible company and has gained the community's trust. Bill Gates, the company's co-founder, is head of the Bill and Melinda Gates Foundation, which has been behind numerous causes such as eradicating malaria, education, supporting new modes of recycling and agriculture (Sehgal et al. 2020). As part of its social responsibility efforts, the company has also committed to supporting a sustainable future by addressing climate change and setting ambitious goals to reduce pollution (Agudelo et al., 2019). All these actions have been critical in helping the company gain the community's trust and attracting new customers.
Companies can also lose the trust of the local communities if they fail to be socially responsible. This can occur if the organization is involved in polluting the environment or even fails to support community activit...