Section C (CUEGIS) - Ethics, innovation and entrepreneurship

With reference to one or two organization that you have studied, discuss the influence of ethics and innovation on the role of entrepreneurship (entrepreneur) and intrapreneurship (intrapreneur). Conceptual approaches play a vital role in influencing the role of entrepreneurship and intrapreneurship in an organization. Innovation, which is one of the concepts, is the ability to think anew by developing new services or products. It is synonymous with risk taking as defined in the entrepreneurial behavior. Organizations that create innovative products take on the greatest risk because they create new markets. It is the act to carve a new niche in it, as deemed by most entrepreneurs. Ethics, on the other hand is the basic concepts and fundamental principles of decent human conduct. Organizations that mobilize this conduct concerned with decisions and what and how to do it. For example, ethical considerations in the role of entrepreneurship and intrepreneurship are revolved around the ways of an organization approaches its customers by instilling good values throughout the conduct, and also through consideration in the branding of the products or services, based on morality as it portrays the image of the organization. These two concepts influence the survival of an organization in the modern world to cater the society’s demands. One of the organizations that best fit these criterions is IKEA. IKEA has introduced various ethical conducts throughout the century. One of its most significance considerations is that IKEA introduced IWAY. It is an ethic code that had been introduced by the founder of the organization as a code of conduct between the organization and its suppliers since the year 2000. It encompasses guidelines concerning working conditions, prevention of child labour, the environment and responsible forestry management. This ethical conduct is to ensure that the suppliers won’t go overboard although things may seem inevitable as most