Moral Dilemmas in Contemporary Business Assignment
Added on 2019-12-04
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Moral Dilemmas inContemporary Business1
Moral dilemma in Contemporary business Dilemma is a situation in which an individual has to select one option from the twoalternatives, neither of which is unambiguously desirable or preferable. In business, there arelots of situations arises which forced parties to select one course of actions out of which both areequally undesirable. Present assignment will focus on modern dilemma in contemporary businessera. Every business organization is the part of society as they work in the society and offerservices to the public. Henceforth, they have certain responsibilities towards society which theyneed to comply strictly. The essay will demonstrates the role of ethical dilemma, environmentalresponsibilities and social and political environment which give rises to arise contemporaryissues in business practices.According to Lindy and Schaefer (2010)business ethics means the principles and valuesthat companies must be follow while conducting their operations and activities. This principlesgovern business practices and pay focus to take right decisions. It applies to all the businessactions and highly related to the individual conducts and entire corporation. Looking at thepresent era, every business organizations has certain social responsibilities which can be apply tothe moral dilemmas as struggle for profit maximization. Similary, Natale and Doran (2012)saidthat business ethics refers to behaviour which firms adheres in its daily dealings or functions inthe market. It is the manner that reflects that how business interact with the other corporations,their personnel and customers. In such respect, they should treat their employees in fair manner,promote them fairly, handle conflicts situations between business personnel etc are some of thesituations that are of great concern. According to Toren and Wagner (2010) theory of business ethics clearly reflects that allthe enterprises should achieve their objectives and earn profits by taking into account theobjectives of community welfare. It states that business managers and employees should alwaysdo right things which does not create negative impact to the community. In contrary to this, Leeand Yoo (2011) argued that ethical dilemmas are situations or conditions where a person has tomake difficult choice between a moral and immoral act. In the present global world, ethicaldilemmas are general occurrences in the workplaces as many times, employees has to select anoption between two alternatives available to him. Garmon (2010)keep focus on emergingrelationship between business ethics and economic incentive in the form of business profit. Each2
and every firm has different culture and code of conduct to operate in the present competitivebusiness environment. He said that some of the corporations keep focus to maximize theirprofitability without considering its impact on related parties. It lead to arise breach of businessethics. Similarly, Anderson and Anderson (2014) said that maximizing of economic incentive isa legitimate corporative goal provides results in form of greater economic efficiency andproductivity as well. In contrast to this, Van Auken (2016),explained the relationship of ethical principles,rules and standards such as prudence ethics, self development and interdependence. Henceforth,organizations who attain more and more profit by varied profiteering activities usually do notcontributes towards welfare of the society. So that, consider immoral and irresponsible business.The theory has been critically evaluated by Murray (2015) as he believed that profitabilityobjectives and moral behaviour are adversely related to each other. It is because organizationsoften behave unethically to accumulate high profitability so as to increase their net earnings.However, Toren and Wagner (2010)argued that good ethics is the essential and crucial elementsfor the long-run survival and business sustainability. He claimed that organizations who areinvolved in immoral conducts and behaviour than it will be punished by suffering theirconsumers and employees as well. This in turn, net profit margin of the companies will be shrinkover time. Thus, it becomes essential for the corporations to assure that management andemployees are not only efficient and experienced in their work but also behave in sociallyresponsible way. According to the Mann (2013), if an employees feel high pressure from the highermanagement authority to do some immoral conduct than such situation will give rises to ariseethical dilemma. Moreover, if the workers feel that they can not point out the bad conduct oftheir co-workers and other superiors than it is also a situation of ethical dilemma. Moreover, inaccordance with Khan (2010) ambition and discrimination is also a reason for moral dilemma inbusiness world. In such case, when a employee is under pressure due to some financialconstraints, than he or she might be involved in some unethical conducts, known as ethicaldilemma. Likewise, as per the view point of Del Chiaro, Rangelova and Maeurer (2016)diversifying also lead to enhance moral dilemmas. For instance, when a personnel does not want3
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