Reflection On Ethical Dilemma
In a perfect world, businesses and their workers would always tend to do the right thing in their operations. However, in the contemporary world, the development of an ethical dilemma is considered to be a common aspect which occurs with the workplace. Dilemmas are the problems or situations where a person has to make a difficult choice between moral and immoral act. According to the business operations of Ike Libby, the performance of the business is low with several demands to fulfill. The focus of Libby is to ensure that the business can be profitable in the long run. Unfortunately, the ethical dilemma on whether to lend Robert is a significant concern for him as well. The way business managers often respond to the responses determine the shape and character of future business operations. There are some cases where the avoidable circumstances cannot be ignored in doing business because the lack of addressing them cannot be the best way. The understanding of ethical dilemma is vital to make ethical choices in business operations.
The approach of ethics which Libby can enforce is to create awareness of personal values which constitute to human welfare and set of beliefs. The negative elements that can be harmful to human welfare consist of poverty, lack of opportunities violation of human rights among others. The development of altruistic behaviors can also improve social welfare by ensuring equal treatment, kindness, and compassion to provide an opportunity for those who lack. These are the elements which Libby should consider because they assist in understanding ethics and ethical dilemmas of doing the right thing in professional lives (Barry, 2019). Therefore, giving Gerald more debt could harm the business operation to some extent but also assist in creating reputation to the community through making such decision in the market. Putting these values in work plays a critical role in business because they evaluate the concept of unavoidable ethical dilemmas which also applies in private life.
A business ethical dilemma exists when the company makes decisions on the choice between two or more option which has various impacts on profitability and competitiveness. The determination of ethical responsibility by Libby can be addressed in different aspects. The understanding of Severity of harm is one of the elements which should be put into consideration by Libby because it would determine the risks involved in deciding on an ethical dilemma. The occurrence of risk can be an essential issue which can influence the operations of the business activities (Hanson, 2011). The provision of the decision passed to help the customer can be personal but at the same time also affecting the business operation. The other element is the certainty of harm which should identify the problems and opportunities to choose the best option in an ethical dilemma. The conditions for certainty provide information necessary to determine the clarity of the situation by knowing the available resources (Hanson, 2011). In most cases, the solutions are made from the past experiences which correspond appropriately to the issues affecting the business operations.
Conclusively, the understating of ethical dilemmas is essential to make the best decision in every business. Besides, setting out personal values which constitute to development of human welfare should also be put into consideration by managers to improve on the process of making the best decision in doing the right thing. Making profits and being competitive are not only the values for success in deciding on ethical dilemma but also considering beliefs and values which promote human welfare such as equal treatment compassion can be imperative in the business world.
Barry, Dan (2019) In Fuel Oil Country, Cold That Cuts to the Heart. © 2019 The New York Times Company
Kirk, Hanson (2011) Am I Responsible?. Retrieved from https://www.youtube.com/watch?v=IEmxFkEbfZo&list=PL4AE76B235A9EB6FE#action=share