A Term Paper Activity for Modular Learning

In EPP with Entrepreneurship

Presented to
Mr. Eugenio A. Abajo

The Importance of Promoting Ethical Entrepreneurship in EPP Classes

Presented by:
Mariejo Dumalag
BEED 3

March 12, 2024

A. Abstract
Entrepreneurship education
Rueda Street, Calbayog City
Samar, Philippines 6710
063 055 5339857programs (EEP) empower individuals with the skills and knowledge
to launch successful businesses. However, an equally crucial aspect lies in fostering ethical
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main@nwssu.edu.ph
 principles within aspiring entrepreneurs. This paper explores the significance of promoting
ethical entrepreneurship in EPP classes. By integrating ethical considerations into the
curriculum, educators can equip students with the necessary framework to make responsible
decisions, benefiting not only their ventures but also society at large. The paper reviews existing
literature on the need for ethical entrepreneurship, the advantages of promoting it in EPP, and
various strategies educators can employ. It then delves into the core components of ethical
entrepreneurship education, exploring its impact on student development and business practices.
Finally, the paper discusses the challenges and limitations associated with integrating ethics into
EPP and proposes directions for future research.

B. Introduction
The entrepreneurial spirit thrives on innovation, driving economic growth and creating
jobs (Longenecker et al., 2018). As entrepreneurs navigate the complexities of the business
world, their decisions hold significant consequences for stakeholders, the environment, and
society as a whole. This underscores the critical need for ethical entrepreneurship, a philosophy
that emphasizes conducting business with integrity, fairness, and social responsibility (Weaver et
al., 2019).
Entrepreneurship education programs (EEP) play a vital role in equipping individuals
with the skills and knowledge necessary to launch and manage successful ventures. However, a
traditional focus on practicalities can leave a gap in ethical considerations. This paper argues that
integrating ethical principles into EPP curriculums is not just beneficial but essential. By
fostering ethical decision-making in aspiring entrepreneurs, educators can empower them to
become not only successful business leaders but also responsible contributors to a sustainable
and just society.

C. Literature Review
The need for ethical entrepreneurship is well-documented in academic literature. Weaver
et al. (2019) highlight the far-reaching consequences of business decisions, emphasizing the
importance of ethical conduct for long-term success. Longenecker et al. (2018) advocate for
establishing a foundation in ethical principles early on, equipping future entrepreneurs with the
necessary framework for responsible decision-making.
The benefits of promoting ethical entrepreneurship in EPP are multifaceted. One key advantage
is building a strong foundation for responsible business practices. Exposing students to ethical
principles from the outset allows them to integrate these considerations into their ventures from
the ground up (Longenecker et al., 2018). Furthermore, EPP can foster the development of
students' moral reasoning skills. Through classroom discussions, case studies, and role-playing
exercises, students can grapple with ethical dilemmas faced by entrepreneurs, refining their
ability to distinguish between right and wrong in business contexts (Ford & Richardson, 2009).

Ethical entrepreneurship education can also nurture a generation of business leaders who
prioritize social responsibility. By understanding the impact of their ventures on society and the
environment, students are empowered to create businesses that contribute positively to the
communities they serve (Clarkson et al., 2011). Additionally, operating ethically strengthens a
company's reputation and fosters trust among consumers, investors, and partners (Crane et al.,
2019). EPP classes that emphasize ethical conduct can prepare students to build businesses that
are not only profitable but also well-regarded.
A growing body of research emphasizes the need for integrating ethics into
entrepreneurship education. Studies by Jones et al. (2017) and Morris et al. (2015) highlight the
shortcomings of traditional EPP programs that primarily focus on business development and
profitability, neglecting the ethical dimension.
Rueda Street, CalbayogThe
City benefits of ethical entrepreneurship are well documented. Vesper & Friedrich (1999)
063 055 5339857
Samar, Philippines 6710
demonstrate that ethical practices not only enhance a company's reputation but also foster trust
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 with stakeholders. De Bettignies et al. (2009) further suggest that ethical entrepreneurship
contributes to positive societal impact by addressing social and environmental challenges.

D. Main Body
Promoting ethical Entrepreneurship in EPP Classes have several reasons and
considerations, at the same time it has its benefits. It helps building a Strong Foundation by
exposing students to ethical principles early on, EPP classes can establish a foundation for
responsible business practices. This equips future entrepreneurs with the necessary framework to
make sound decisions throughout their ventures (Longenecker et al., 2018). It also develop
Moral Reasoning of the learners. Entrepreneurship education can foster the development of
students' moral reasoning skills. Through classroom discussions, case studies, and role-playing
exercises, learners can grapple with ethical dilemmas and explore potential solutions, allowing
them to refine their ability to distinguish between right and wrong in business contexts (Ford &
Richardson, 2009). It also create socially responsible businesses in the young learner’s minds.
Ethical entrepreneurship education can nurture a generation of business leaders who prioritize
social responsibility. By understanding the impact of their ventures on society and the
environment, students are empowered to create businesses that contribute positively to the
communities they serve (Clarkson et al., 2011). Lastly, it enhances business reputation.
Operating with ethical entrepreneurship strengthens a company's reputation and fosters trust
among consumers, investors, and partners. EEP classes that emphasize ethical conduct can
prepare learners to build businesses that are not only profitable but also well-regarded (Crane et
al., 2019).
Integrating ethical considerations into EPP curricula might face challenges. Instructors
may require additional training on ethical business practices. Furthermore, balancing the focus
on ethics with the technical aspects of business management needs careful consideration.

E. Discussion
Given the reasons and considerations, at the same time the benefits of promoting ethical
entrepreneurship in EPP class there are several methods that can be implemented to promote
ethical entrepreneurship within EPP classes. First, having a case studies which can present real-
world scenarios where ethical dilemmas arise helps students analyze and develop solutions that
prioritize responsible business practices (Hills, 2018). Inviting ethical entrepreneurs to share
their experiences allows students to gain practical insights into navigating ethical challenges
(Kuratko & Morris, 2018). Engaging students in simulations that incorporate ethical
considerations provide them with a safe platform to experiment with decision-making in a virtual
business environment (Neck & Forbes, 2012). A teacher can also introduce ethical frameworks
such as utilitarianism or deontology equips students with analytical tools for approaching ethical
complexities (Velasquez et al., 2016). Lastly, implementing service learning projects and role-
playing exercises. Engaging students in service-learning projects that connect their
entrepreneurial aspirations with social causes that can foster a sense of social responsibility and
encourage them to integrate ethical considerations into their business models (Austin et al.,
2006). Role-playing exercises can place students in simulated business scenarios where they
encounter ethical challenges and they can have the knowledge of the possible scenarios in real-
world situation. This allows them to practice navigating these situations and develop effective
strategies for making ethical decisions (Shaw & Williams, 2014).
Strategies to overcome the in challenges in integrating ethical considerations into EPP
curricula
Rueda Street, include incorporating
Calbayog City
063 055 5339857
ethics into existing EPP courses rather than creating entirely new
Samar, Philippines 6710
ones. Collaboration with business professionals who specialize in ethical conduct can provide
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 instructors with valuable resources. Additionally, readily available online resources and teaching
modules can be utilized to supplement course materials.

F. Conclusion
Promoting ethical entrepreneurship within EPP classes equips future business leaders with the
necessary skills to navigate the complexities of the business world while prioritizing ethical
conduct. By integrating case studies, guest speakers, simulations, and ethical frameworks into
the curriculum, educators can cultivate a generation of responsible entrepreneurs who prioritize
sustainability, social impact, and ethical decision-making. This approach ultimately benefits
students, businesses, and society as a whole by fostering a more ethical and sustainable business
landscape.
Entrepreneurship education has the power to shape the future landscape of business. By
prioritizing ethical considerations within EPP classes, educators can prepare students to become
not only successful entrepreneurs but also ethical leaders who contribute positively to a
sustainable and just society. Integrating ethical principles into the curriculum equips future
generations of business leaders with the knowledge, skills, and values necessary to navigate the
complexities of the business world while making responsible choices that benefit all
stakeholders.

G. References
Austin, J., Stevenson, H., Wei-Min, S., & York, P. (2006). Service-learning in
entrepreneurship education: Does it make a difference? Journal of Marketing Education, 28(2),
181-193. https://files.eric.ed.gov/fulltext/EJ1179933.pdf
Bird, B., & Brush, C. (2018). Myth creation in entrepreneurship research. Cheltenham,
UK: Edward Elgar Publishing.
Clarkson, P., Decker, D., & Freeman, R. (2011). The stakeholder theory of the firm: A
managerial perspective. Academy of Management Perspectives, 25(1), 22-43.
De Bettignies, H., Flammer, C., & Low, N. (2009). Corporate social responsibility: An
ethical framework for the twenty-first century. Journal of Business Ethics, 88(2), 197-213.
Hills, G. (2018). Entrepreneurship and innovation (5th ed.). Edward Elgar Publishing.
Jones, C., Winn, D., & Carter, D. (2017). Integrating ethics into entrepreneurship
education: A call to action. Journal of Business Ethics Education, 18(2), 313-329.
Kuratko, D. F., & Morris, M. H. (2018). Corporate entrepreneurship and innovation (5th
ed.). SAGE Publications.

Rueda Street, Calbayog City

063 055 5339857
Samar, Philippines 6710

main@nwssu.edu.ph www.nwssu.edu.ph