Following are two categories of ethical issues facing the manager:
(i) Ethical Dilemmas
(ii) Ethical Lapse.
Ethical lapse on the part of manager occurs when he makes an unethical decision. Ethical lapse is associated with cases of unethical behaviour. For example, the decision of a top manager to profit from inside information is an act of ethical lapse.
Ethical dilemma means conflict between rights of two or more stakeholders. In ethical dilemmas, the issue has two conflicting but valid sides. For example, the desire of a tobacco company to advertise is an ethical dilemma. If the tobacco company is allowed to advertise, it is against the interest of society. If the tobacco company is not allowed to advertise, it restricts their freedom of speech an ability to do business.
Following are two categories of ethical issues facing the manager:
(i) Ethical Dilemmas
(ii) Ethical Lapse.
Ethical lapse on the part of manager occurs when he makes an unethical decision. Ethical lapse is associated with cases of unethical behaviour. For example, the decision of a top manager to profit from inside information is an act of ethical lapse.
Ethical dilemma means conflict between rights of two or more stakeholders. In ethical dilemmas, the issue has two conflicting but valid sides. For example, the desire of a tobacco company to advertise is an ethical dilemma. If the tobacco company is allowed to advertise, it is against the interest of society. If the tobacco company is not allowed to advertise, it restricts their freedom of speech an ability to do business.