Professional dilemma and ethics in solving managerial challenges

There are many challenges facing business in the fast-paced, globally oriented markets of today's world.

Some of the management challenges are:

·         PESTEL 

·         The challenge of globalization

·         The challenge of ethics and governance

·         The challenge of diversity

·         The challenge of technology

·         The challenge of competition

Ø  PESTEL:

Organizations are faced with a variety of external factors that provide potential opportunities and threats for short-term and long term success in any given environment. Encompassing a micro-environmental perspective, these factors can be effectively summarized with the acronym PESTEL.

 

PESTEL stands for the political, economic, social, technological, environmental, and legal influences a business encounters as it pursues its objectives. Analyzing the entirety of the macro environment is an extensive and complex task, but understanding the framework of basic influences allows for an organized and strategic approach to isolating each opportunity or threat.

Ø  The challenge in globalization:

Globalization is a hot topic in the business world today, garnering enormous attention as imports and export continue to rise with companies expanding across the global marketplace. Understanding the basic overview of the global economy underlines highly relevant managerial and business level applications that provide useful insights to modern day managers. 

Ø  The challenge of ethics and governance:

As it's most basic, ethical behaviour can first be derived via the laws, rules, and regulations of    the country in which a business operates. In the united states, workers are imbued with very specific rights regarding the risks they take, the hours they works, the breaks they deserve, the benefits they are provided. Managers are the responsible parties in ensuring the delivered to the employees are entitled to overtime pay.

Ø  A challenge of diversity:

Globalization has resulted in cross culture relationships, along with high percentage of domestic diversity. As globalization creates higher potential value in approaching diverse markets and demographics, understanding how to manage a diverse community internally is a priority for management. Must be not only aware of diversity in the workplace but also open minded and empathetic to perspective other than their own.

Ø  The challenge in technology:

Managing the technology is an intrinsic part of managing a business and effective balancing resources to optimize efficiency is an important operational objective for all managers. Varying perspectives and strategies in technology management abound, all revolving around a few simple needs being filled to move the business towards a competitive advantages.  

Ø  The challenge of competition:

From a managerial perspective, competition generally falls in to the external environment; through it can also take shape in the internal environment through rivalry between business units. Manager must understand a company's competitive advancement and build a strategy that takes into account landscape.

Ethical and professional dilemma:

There are three conditions that must be present for a situation to be considered an ethical dilemma. The first condition occurs in situations when an individual, called the "agent" must take a decision about which course of action is best. The second condition for ethical dilemma is that there must be different course if action to choose from. The third, in an ethical dilemma, no matter what course of action is taken, some ethical principle is compromised. Now we jump out on professional dilemma, a professional dilemma is an ethical problem that requires an individual to choose a particular course of action. Usually, the choice is itself is black and white: one choice is clearly the right answer, while other choice is unmistakably the wrong answer. However the consequences or repercussions of choosing the right answer may sometimes make difficult decision.

Managerial implications:

·         Professional dilemma in solving management challenges:

An example of professional dilemma includes discovering fraudulent or illegal activities and debating whether to report it, or being pressured by bosses, colleagues or client to be deceitful. Other example include predicaments regarding disclosure of confidential information, withholding pertinent information, engaging, bosses or clients and accepting gifts that constitute a conflict of interest.

·        Ethical in solving management challenges:

For resolving the ethical dilemma manager has to mind the following points:

Know the principles: In ethical decision making there are three basic principles that can be used for resolution of problem. The three principles are that of intuitionism, moral idealism and utilitarianism.

•   Debate moral choices: before taking a decision, moral decisions need to be thought upon and not just accepted blindly.

•   Balance sheet approach: In balance sheet approach, the manager writes down the pros cons of the decision. This helps arrive at a clear picture of the things and by organizing things in a better way.

•   Engage people up and down the hierarchy: one good practice is to announce ones stand on various ethical issues loudly such that a clear message to every member of the organization and to those who are at the greater risk of falling prey to unethical practices.

Integrating ethical decision making into strategic management: A better way to deal with this is to integrated ethical decision making into strategic management.

Findings:

ü  Through the ethics in organization one can get efficiency, consistency, pay back and self respect. In other words we can say like this way:

§  Efficiency- decision can be made more quickly.

§  Consistency- results in more systematic output.

§  Payback- builds emotional goodwill with your constituents.

§  Self-respect – you feel good about yourself when you look in the mirror.

ü  Globalization demands a diverse work force, and ages and dispositions is of high value.

ü  Technology management is crucial in offsetting the risks of new technology while acquiring the operational benefits it provides.

ü  From the above mentioned points and discuss above topic, manager definitely solve the management dilemmas.