What are some examples of ethical dilemmas in business?

What are some examples of ethical dilemmas in business?

Ethical dilemmas in business often involve conflicts between profit and principles. For example, a company might face a choice between reducing costs by outsourcing labor to countries with lower wages or maintaining local jobs.

Can you give me another example?

Sure! Another example is when a company discovers that its product has a defect. The dilemma is whether to recall the product, which could be costly, or to keep it on the market and risk customer safety.

What should a business prioritize in these situations?

In such situations, businesses should prioritize ethical considerations and long-term reputation over short-term profits. Transparency and accountability are key.

How can companies train employees to handle ethical dilemmas?

Companies can provide ethics training programs, create a clear code of conduct, and encourage open discussions about ethical issues to prepare employees for dilemmas.