Ethical Dilemma - Definition, How to Solve, and Examples
Curated from: corporatefinanceinstitute.com
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What is an Ethical Dilemma?
An ethical dilemma (ethical paradox or moral dilemma) is a problem in the decision-making process between two possible options, neither of which is absolutely acceptable from an ethical perspective.
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How to Solve an Ethical Dilemma?
The biggest challenge of an ethical dilemma is that it does not offer an obvious solution that would comply with ethics al norms.
The following approaches to solve an ethical dilemma were deduced:
- Refute the paradox (dilemma): The situation must be carefully analyzed. In some cases, the existence of the dilemma can be logically refuted.
- Value theory approach: Choose the alternative that offers the greater good or the lesser evil.
- Find alternative solutions: In some cases, the problem can be reconsidered, and new alternative solutions may arise.
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Ethical Dilemmas in Business
- Ethical dilemmas frequently occur in the workplace. Some companies and professional organizations adhere to their own codes of conduct and ethical standards. Violation of the standards may lead to disciplinary sanctions.
- Almost every aspect of business can become a possible ground for ethical dilemmas. It may include relationships with co-workers, management, clients, and business partners.
- In order to solve ethical problems, companies and organizations should develop strict ethical standards for their employees. Every company must demonstrate its concerns regarding the ethical norms within the organization. In addition, companies may provide ethical training for their employees.
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