How To Resolve
Ethical Dilemmas In Business
In the current era of ever-growing
competition and limited financial resources, entrepreneurs and
business managers constantly encounter certain dilemmas related to
business. Most of the times, entrepreneurial managers tend to feign
away from ethical issues while taking decisions on dilemmas either
due to ignorance or on purpose.
In today’s business, the workforce
comprises of people who are diverse in their nationality, religion,
caste, race, age, education and even socioeconomic status. They are
all expected to work together as a team towards the success of the
organization. Dilemmas are bound to rise in issues such as
downsizing the staff, pollution control, toxic waste disposal,
utilization of resources, changes in law and technology, issues
related to discrimination, employee rights and even on product
quality. All these issues are relatively complex and are difficult
to resolve. Entrepreneurial managers have to rely on their
individual judgment while resolving all these different dilemmas
related to business.
However, before making any decision,
one needs to be aware of the ethical issues concerned with the
business. There are two different ways of resolving ethical dilemmas
in business. While one approach concentrates on analyzing the
practical consequences of the decision, another approach
concentrates on the action.
Ethical resolution of conflicts
requires discussion, analysis, problem solving and decision making.
In order to resolve ethical dilemmas, managers need to have
interpersonal communication and negotiation skills, conflict
resolution skills and critical thinking. Before making any decision,
one has to analyze all the positive and negative consequences that
are connected with the issue. |
