ENTREPRENEURSHIP

Detailed explanation-1: -When it comes to an “ethical dilemma”, a decision must be made between two or more ethically responsible courses of action, all of them being considered ethically appropriate, but each of them leading to a different outcome. This usually leads to weighing priorities against one another.

Detailed explanation-2: -The basic difference between the two is that personal ethics refers to a person’s morals or values in any aspect of life. In contrast, business ethics refers to an individual’s values within their work environment and how they conduct themselves professionally.

Detailed explanation-3: -Managers and leaders need to be aware of their own ethical and moral beliefs so they can draw on them when they face decisions. They can then effectively think through an ethical issue with the same types of approaches they use for other decisions.

Detailed explanation-4: -Ethical decision making is the process in which you aim to make your decisions in line with a code of ethics. To do so, you must seek out resources such as professional guidelines and organizational policies, and rule out any unethical solutions to your problem. Making ethical decisions is easier said than done.