examples of Ethical Dilemmas in business context PDF

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Summary

explains types of ethical dilemmas visible in business through coming up with examples and how to solve the ethical dilemmas...

Description

Ethical Dilemmas Owners and managers and employees of businesses whether large or small can often encounter ethical dilemmas or challenges. What is an ethical dilemma? Definition: Ethical dilemmas, also known as moral dilemmas, are situations in which there is a choice to be made between two options, neither of which resolves the situation in an ethically acceptable fashion. A business dilemma exists when an organizational decision maker faces a choice between two or more options that will have various impacts on (i) the organization’s profitability and competitiveness; and (ii) its stakeholders.

Some examples of ethical dilemmas/challenges in Small Business Enterprises include: 

Do I meet a deadline with my customer and ship out products even though I know there is a possibility they might be faulty, or do I openly discuss my difficulties with the customer?

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How do I ensure that my employees do their work properly and do the right thing?

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How do I deal with my employees’ desire to balance their work obligations with their personal ones?

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How do I respond when securing an important contract seems to require the payment of a kickback?

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Do I delay payment to suppliers and the Inland Revenue when my cash flow is currently limited?

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Should food supplements manufacturers make unsubstantiated claims about their products?

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Should an engineer agree to divulge her former employer’s trade secrets to ensure that she gets a better job with a competitor?

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Should a salesperson omit facts about a product’s poor safety record in his presentation to a customer?

And the list goes on and on. Such questions require the decision maker to evaluate the ethics of his or her choice....