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The ethical and legal issues involved at the start-ups of the business are very crucial for the new entrepreneurs because if new entrepreneurs successfully cope with ethical and legal challenges, then such entrepreneurs will keep carry on the business in the right direction and on the path set in the Mission Statement of the business. You may also be interested in Types / Kinds of Start-UP Entrepreneurs The most important ethical and legal issues at the start-up of the business are: 1. Establishing Strong Ethical Culture For A Firm It is the most important issue faced by any entrepreneur in these business days. The data related to establishing a strong ethical culture in an entrepreneurial firm is not good according to latest surveys conducted among the employees of the business. These surveys and research clearly show that a strong ethical culture is the need of time and it is established within the organization by establishing an example o...

Here we discuss about the main differences  between Mission Statement And Vision Statement. Both of these statements are great importance in the life cycle of the business. Mission Statement tells us about the purpose of being existence of the entrepreneur. Why the business does come into existence and what to do presently to achieve future targets of the business? For Example, an entrepreneur wants to become market leader. To fulfill this purpose, the entrepreneur makes effective business plan at startup of the business. Conduct Feasibility Analysis. Prepare Effective Business Model to fulfill this purpose of the business. Vision relates to future. What the entrepreneur wants to become in the future. For Example, an entrepreneur wants to become market leader over the next 10 years. Mission Statement provides guidelines that ultimately leads towards effective financial management and creates moral values for the whole system. ...