External Challenges Faced by Business Leaders

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ISSUE AND CHALLENGES PAPER
Business leaders face many challenges today; however, these challenges can be traversed with the correct application of the seven virtues. Currently, business leaders face several issues including how to navigate diversity in the workforce, making tough decisions on healthcare reform, and the growing presence of a one world market. Upholding civic responsibilities in both their home markets and those of the world requires great fortitude and remarkable character. Leaders are not born, they are made and character is built on virtuous decision making and action. Learning to be a great leader requires the development of the seven virtues: courage, hope, justice, prudence, temperance, love, and faith. We will explore how these virtues apply to the challenges identified and how they will assist in guiding towards a solution while remaining moral, ethical, and responsible leaders. One issue that business leaders face today is the globalization of world markets. The business world is flattening and leaders are constantly monitoring the cost and benefits of operating or manufacturing overseas. Due to modern technology and the speed and efficiency of travel, it is sometimes more profitable for an organization to outsource manufacturing, thus taking jobs from America and hiring cheaper labor overseas. Business leaders are forced to consider the monetary benefit of globalization while also upholding their moral obligations to the people losing their jobs due to outsourcing. In this situation, it may be difficult for leaders to demonstrate all of the virtues simultaneously because they will conflict with one another. For instance, it may be prudent to outsource the work and make more money for the company, but this decision may also be neglecting the virtues of love and justice. Is it right to lay off hundreds of hard working citizens in order to exploit cheaper labor in other countries? These are the types of ethical challenges that...
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