An ethical dilemma, also known as a moral dilemma, is a situation where the guiding principles of our everyday life cannot determine whether a particular course of action is right or wrong. The moral precepts conflict in such a way as the possible resolutions to the dilemma are in no way tolerable. It is like choosing between two evils but in in which ever choice is chosen, no good will been done.
An ethical dilemma is a condition or problem facing a person that involves complex and often conflicting principles of ethical behavior. A classic example of an ethical dilemma is a salesman; he might face the dilemma of telling the truth about a product and end up losing a sale and his commission.
What Are Stakeholders & Ethical Dilemmas?
Few executives ever see jail even though the results of unethical behavoir can greatly affect stakeholders.
The prevalence of major corporate scandals over the years has helped increase public awareness of two major ethics concepts --- stakeholders and ethical dilemmas. While these concepts are not unique to the study of business, they tend to be more commonly applied to ethical corporate decision making. For example, the corporate social responsibility movement is a direct application of these ideas in real life business practice. But what exactly do they mean?
o Stakeholders are broadly defined as anyone who is impacted by a decision-maker's decision. Some examples of corporate stakeholders would be shareholders, employees, customers, suppliers, financiers, families