Business Ethics and Corporate Governance, Second Edition

SUMMARY

An ethical dilemma is a moral situation in which a choice has to be made between two equally undesirable alternatives. A business dilemma exists when an organizational decision maker faces a choice between two or more options that impacts on (i) the organization’s profitability and competitiveness, and (ii) its stakeholders. Businesspersons and professionals come across several such situations in their lives.

Ethical challenges in business take several forms and raise different kinds of ethical dilemmas. These dilemmas may arise due to (i) failure of personal character; (ii) conflict of personal values and organizational goals; (iii) organizational goals versus social values; and (iv) hazardous, but popular products.

There are several ...