Start Ups - Code of Ethics
Starting up and entrepreneurship is a challenging affair as it is and more so in India as the start up ecosystem is fully developing. Following high standard of ethics and integrity is difficult, esp when the same standards are missing in Industry and Government at large.
However, start ups that stick to these practices
will have a much higher chance of winning in the long run.
With this post, I invite all entrepreneurs to share key ethics and integrity practices that every start up must incorporate in their code of conduct or DNA. Once everyone gives their inputs, we will compile and share with all. Also, we will share the same with DIPP and Ministry of MSME so it can be broadly disseminated. more
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Hi SHARAD, where are you based;I have also served Aditya Birla group for over 18 years and now retired.I was also a Ultratech. more
Here is my top 5: - No bribery and illegal gratifications of any kind - commitments to act in the best interests of the country and communities the company operates in - a clear guidance on handling conflict of interest situations (as these situations however small will test the ethical conduct of the employees) - commitment to financial transparency with clear board of director accountability. (Appoint an independent board member even if you are a startup). - clearly outline consequences of not following the code of ethics by committing to measure performance on financial AND values. Good performance without values should not be rewarded more
As an Enterpreneur you will have to keep Patience for a slow and steady Growth .In the long run the system recognises your Ethical practices and supports you in the Up and Down cycles of Buisness more
I was an enterprneur before joining a job with MNC cement company now ULTRA TECH CEMENT LIMITED and got retired. As an enterprenure I was with my father manufacturing thermometers and petroleum testing equipments alongwith other scientific instruments in Ajmer and the quality was of very high standard so much so that top refineries and IPCL were only buying our products without floating any tenders and in certain cases against advance payment a rare in govt. organisation. Now after retirement am again planning to participate in startup India and plan to start with cement as a raw material and again dream to top in the field acheiving execlance in the feild where buyer becomes delighted with the product and services and become their preferred. I might have some financial constriants and will have to look out for ways and means to over come the same. more