Question

As an entrepreneur, you need to be ethical as an individual as well as in your business behavior, since you will face both ethical decisions and ethical dilemmas while running your business. Describe either an ethical decision or dilemma you might encounter in a business that creates apps for cell phones. Explain your strategy for handling the decision or dilemma using the steps defined in the unit. Ethical situations often arise within businesses. When they do, they typically fit within one of the following categories: bribes, conflicts of interest, conflicts of loyalty, or issues of honesty and integrity. Choose one of the ethical situations categories that require appropriate action. Define the category and provide an example. What makes it a challenge?

Answer 1

As an entrepreneur, you need to be ethical as an individual as well as in your business behaviour. For the given two scenarios the solution could be-

• Part 1: Paying fair and acceptable salaries may present an ethical quandary as the owner of a small or large firm.
• Part 2: Bribes are valuable gifts given to encourage someone to act unethically.

Strategy for handling the decision or dilemma:

The strategy for handling the decision or dilemma using the steps defined in the unit in a business that creates apps for cell phones are-

• Paying fair and liveable salaries could present you with an ethical conundrum as a small- or big-business owner.
• Despite the fact that it could be challenging for you to pay your staff enough so they can support themselves, it is crucial to do so.
• To pay my staff liveable wages, I would personally go above and above.
• Future rewards will come from having strengthened my relationships and gained more trust from my staff.

Ethical situations categories:

When ethical situations often arise within businesses: the ethical situations categories that require appropriate action is "Bribes".

• Bribes are valuable gifts given to influence someone to act unethically.
• Consider the following factors when determining whether or not something is a bribe: the cost of the item, the time of the present, the kind of gift, and the relationship between the giver and the recipient.
• In order to handle this circumstance, I would add a section about bribes and gifts to my corporate policy or code of conduct.

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