Final answer:
The claim that today's entrepreneurs face few ethical decisions is false, as legal constraints do not cover all ethical dilemmas, especially in the context of profit motivation, social responsibilities, and emerging technologies.
Step-by-step explanation:
The statement that today's entrepreneurs are faced with few ethical decisions because the legal system imposes greater penalties on wrongdoers is false. Despite the existence of legal penalties, entrepreneurs frequently face ethical decisions, which may not always be defined by legality alone. For example, while it may be illegal for firms to engage in price fixing and market carving, the motivation to increase profits can still tempt businesses to engage in such activities, challenging their ethical standards.
Moreover, ethical decisions extend beyond just adhering to the law; they also encompass social, economic, and environmental responsibilities. The difficulty in establishing ethical practices can increase with emerging technologies, where the law may not be fully developed, and therefore entrepreneurs must navigate these waters with ethical principles in mind.
Decisions made by corporations often focus on the short-term financial gain and are influenced by market mechanisms and public sentiment, with limited legal and social constraints. As a result, societal and ecological considerations may be undervalued or overlooked, posing significant ethical dilemmas for business leaders.