Ethical Dilemma - Definition, How to Solve, and Examples

An ethical dilemma (ethical paradox or moral dilemma) is a problem in the decision-making process between two possible options, neither of which ... Home›Resources›Knowledge›Other›EthicalDilemma EthicalDilemma Aprobleminthedecision-makingprocessbetweentwopossiblebutunacceptableoptionsfromanethicalperspective Writtenby CFITeam UpdatedFebruary25,2022 WhatisanEthicalDilemma? Anethicaldilemma(ethicalparadoxormoraldilemma)isaprobleminthedecision-makingprocessbetweentwopossibleoptions,neitherofwhichisabsolutelyacceptablefromanethicalperspective.Althoughwefacemanyethicalandmoralproblemsinourlives,mostofthemcomewithrelativelystraightforwardsolutions. Ontheotherhand,ethicaldilemmasareextremelycomplicatedchallengesthatcannotbeeasilysolved.Therefore,theabilitytofindtheoptimalsolutioninsuchsituationsiscriticaltoeveryone. Everypersonmayencounteranethicaldilemmainalmosteveryaspectoftheirlife,includingpersonal,social,andprofessional. HowtoSolveanEthicalDilemma? Thebiggestchallengeofanethicaldilemmaisthatitdoesnotofferanobvioussolutionthatwouldcomplywithethicsalnorms.Throughoutthehistoryofhumanity,peoplehavefacedsuchdilemmas,andphilosophersaimedandworkedtofindsolutionstothem. Thefollowingapproachestosolveanethicaldilemmawerededuced: Refutetheparadox(dilemma):Thesituationmustbecarefullyanalyzed.Insomecases,theexistenceofthedilemmacanbelogicallyrefuted. Valuetheoryapproach:Choosethealternativethatoffersthegreatergoodorthelesserevil. Findalternativesolutions:Insomecases,theproblemcanbereconsidered,andnewalternativesolutionsmayarise. Examples Someexamplesofethicaldilemmainclude: Takingcreditforothers’work Offeringaclientaworseproductforyourownprofit Utilizinginsideknowledgeforyourownprofit EthicalDilemmasinBusiness Ethicaldilemmasareespeciallysignificantinprofessionallife,astheyfrequentlyoccurintheworkplace.Somecompaniesandprofessionalorganizations(e.g.,CFA)adheretotheirowncodesofconductandethicalstandards.Violationofthestandardsmayleadtodisciplinarysanctions. Almosteveryaspectofbusinesscanbecomeapossiblegroundforethicaldilemmas.Itmayincluderelationshipswithco-workers,management,clients,andbusinesspartners. People’sinabilitytodeterminetheoptimalsolutiontosuchdilemmasinaprofessionalsettingmayresultinseriousconsequencesforbusinessesandorganizations.Thesituationmaybecommonincompaniesthatvalueresultsthemost. Inordertosolveethicalproblems,companiesandorganizationsshoulddevelopstrictethicalstandardsfortheiremployees.Everycompanymustdemonstrateitsconcernsregardingtheethicalnormswithintheorganization.Inaddition,companiesmayprovideethicaltrainingfortheiremployees. MoreResources CFInowofferstheBusinessEssentialsBundlewithcoursesonMicrosoftExcel,Word,andPowerPoint,businesscommunication,datavisualization,andanunderstandingofcorporatestrategy.Tokeeplearning,wesuggesttheseresources: BusinessEthics TopAccountingScandals TypesofDueDiligence WhistleblowerPolicy Sharethisarticle GetAllFourPrograms(MonthlySubscription) LearnMore CorporateFinanceInstitute BacktoWebsite 0searchresultsfor‘’ Peoplealsosearchfor: excel Free freecourses accounting Balancesheet 2 DCF ExploreOurCertifications FinancialModeling&ValuationAnalyst(FMVA)® Learnmore CommercialBanking&CreditAnalyst(CBCA)™ Learnmore CapitalMarkets&SecuritiesAnalyst(CMSA)® Learnmore CertifiedBusinessIntelligence&DataAnalyst(BIDA)™ Learnmore Resources ExcelShortcutsPCMac ListofExcelShortcuts Excelshortcuts[citation... FreeFinancialModelingGuide ACompleteGuidetoFinancialModeling Thisresourceisdesignedtobethebestfreeguidetofinancialmodeling!Wewillbreakdownthemostimportant... SQLDataTypes WhatareSQLDataTypes? TheStructuredQueryLanguage(SQL)comprisesseveraldifferentdatatypesthatallowittostoredifferenttypesofinformation... StructuredQueryLanguage(SQL) WhatisStructuredQueryLanguage(SQL)? StructuredQueryLanguage(SQL)isaspecializedprogramminglanguagedesignedforinteractingwithadatabase.... SeeAllResources SeeAll PopularCourses Free! FMVA®-PrepCourses 3.5h ExcelFundamentals-FormulasforFinance FMVA®-Required 5.5h Buildinga3StatementFinancialModel FMVA®-Required 7.5h BusinessValuationModelingPartI FMVA®-Required 2.5h Scenario&SensitivityAnalysisinExcel FMVA®-Required 6h Dashboards&DataVisualization FMVA®-Electives 11h LeveragedBuyoutLBOModeling SeeAllCourses SeeAll RecentSearches Suggestions FreeCourses ExcelCourses FinancialModeling&ValuationAnalyst(FMVA)®