NURSING ENTREPRENEURSHIP

MAHLOU S. VILLAFLOR, MAN, RN

Clinical Instructor
Who are Entrepreneurs?
Frank Carney (one of the founders of Pizza Hut, Inc.)
- described entrepreneurs as:
* risk takers,
* uniquely optimistic
* committed individuals
* who combines sound judgment and
planning with risk taking to ensure the
success of his/her own business.
Entrepreneurs
- they see the cup as half full rather than half
empty,
- strive for integrity,
- have a competitive desire to excel,
- use failure as a tool for learning,
- full of self confidence
 Characteristics Associated with
Entrepreneurial Mind-set
John Hornaday – after various researched,
formulated a list of 42 characteristics that are
often attributed to entrepreneurs.
 Characteristics Associated with
Entrepreneurial Mind-set
• Confidence
• Perseverance, determination
• Energy, diligence
• Resourcefulness
• Ability to take calculated risks
• Dynamism, leadership
• Optimism
• Need to achieve
• versatility; product knowledge,
market, machinery, technology
• Creativity
• Ability to influence others
• Ability to get along with people
• Initiative
• Flexibility
• Intelligence
• Orientation to clear goals
• Positive response to challenges
• Independence
• Responsiveness to suggestions
and criticism
• Time competence, efficiency
• Ability to make decisions
quickly
 Characteristics Associated with
Entrepreneurial Mind-set
• Responsibility
• Foresight
• Accuracy, thoroughness
• Cooperativeness
• Profit orientation
• Ability to learn from mistakes
• Sense of power
• Pleasant personality
• Egotism
• Courage
• Imagination
• Perceptiveness
• Tolerance for ambiguity
• Aggressiveness
• Capacity for enjoyment
• Efficacy
• Commitment
• Ability to trust workers
• Sensitivity to others
• Honesty, integrity
• Maturity, balance
 Entrepreneurial Ethics
Ethics – from a Greek word ethos meaning “mode
of conduct”

Entrepreneurial Ethics – are those code of

conduct, employed by entrepreneurs which
impact positively to society, resulting to an
increase chances on entrepreneurs success.
 Entrepreneurial Ethics
An entrepreneurial ethics when put to practice
and can be seen and felt by the team - they work
with great zeal, dedication, and purposefulness,
to achieve the organizations objectives and
together they work for the common good.
 Truth

Never
Mislead Honesty

Entrepreneurial
Ethics

Follow Social
Laws Responsibility

Good
Behavior
 Ethical Principles for Business
Executives
• HONESTY. Ethical executives are honest and
truthful in all their dealings and they do not
deliberately mislead or deceive others by
misrepresentations, overstatements, partial
truth, selective omissions, or any other
means.
 Ethical Principles for Business
Executives
• INTEGRITY. Ethical executives demonstrate
personal integrity and the courage of their
convictions by doing what they think is right
even when there is great pressure to do
otherwise
- they are principled, honorable and upright
- will not sacrifice principle for expediency,
be hypocritical or unscrupulous.
 Ethical Principles for Business
Executives
• PROMISE KEEPING and TRUSTWORTHINESS
- Ethical executive are worthy of trust.
- They are candid and forthcoming in supplying
relevant information and correcting
misapprehensions of fact, and they make every
reasonable effort to fulfill the letter and spirit of their
promises and commitments.
- they do not interpret agreements in an unreasonably
technical or legalistic manner in order to rationalize
non-compliance or create justification for escaping
their commitments.
 Ethical Principles for Business
Executives
• LOYALTY. Ethical executives are worthy of trust,
demonstrate fidelity and loyalty to persons
and institutions by friendship in adversity,
support and devotion to duty;
- they do not use or disclose information learned
in confidence for personal advantage.
 Ethical Principles for Business
Executives
• FAIRNESS. Ethical executives are fair and just in all
their dealings;
- they do not use overreaching nor indecent means to
gain or maintain any advantage nor take undue
advantage of other’s mistake or difficulties.
- treat every individual equally;
- they are open minded;
- willing to admit they are wrong
 Ethical Principles for Business
Executives
• CONCERN for OTHERS. Ethical executives are
caring, compassionate, benevolent and kind;
- they follow the Golden Rule;
- help those in need, and
- seek to accomplish their business objectives in
a manner that causes the least harm and the
greatest positive good.
 Ethical Principles for Business
Executives
• RESPECT FOR OTHERS. Ethical executives
demonstrate respect for the human dignity,
autonomy, privacy, rights, and interest of all
those who have a stake in their decisions;
- they are courteous and treat all people with
equal respect and dignity regardless of sex,
race or national origin.
 Ethical Principles for Business
Executives
• LAW ABIDING. Ethical executives abide by
laws, rules and regulations relating to their
business activities.
 Ethical Principles for Business
Executives
• COMMITMENT TO EXCELLENCE
- Ethical executives pursue excellence in
performing their duties,
- well informed and prepared, and
- constantly endeavor to increase their
proficiency in all areas of
responsibility.
 Ethical Principles for Business
Executives
• LEADERSHIP. Ethical executives are conscious
of the responsibilities and opportunities of their
position of leadership and seek to be positive
ethical role models by their own conduct and by
helping to create an environment in which
principal reasoning and ethical decision making
are highly prized.
 Ethical Principles for Business
Executives
• REPUTATION AND MORALE.
Ethical executives seek to protect and build
the company’s good reputation and morale of its
employees by engaging in no conduct that might
undermine respect and by taking or prevent
inappropriate conduct of others.
 Ethical Principles for Business
executives
• ACCOUNTABILITY.
- Ethical executives acknowledge and accept
personal accountability for the ethical quality of
their decisions and omissions to themselves,
their colleagues, their companies, and their
communities