In this video module (part of our Business Ethics eLearning program) we will be talking about two main types of ethical situations. The first one is “ethical dilemmas” and the second is “ethical decisions”. We shall then identify the necessary ethical principles required by Business Executives when faced with such complex situations.
“Business ethics” is portrayed as a matter of resolving conflicts in which one option appears to be a clear choice. For example, it is clear that employees, regardless of rank, should not lie, steal, cheat, be abusive or otherwise break the terms of their contract. The ethical dilemmas faced by managers, however, are often complex with no clear guidelines.
Ethics are moral principles that guide one’s actions, while “business ethics” are ethics applied to business practices and decisions. Often the ethical choices are so obvious that we don’t think about them at all. We simply do what seems to be right. But sometimes competing or conflicting priorities may make the line of what is ethical and what is unethical very fuzzy.
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The European Institute of Management and Finance (EIMF) is a leading provider of premium courses, professional and executive education, eLearning and tailored learning solutions with a strong emphasis on the financial and professional services sector. EIMF’s mission is to equip individuals with the knowledge, skills, and qualifications that are required to be successful in their career and life. EIMF is accredited by the largest relevant professional bodies worldwide.
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