Ethical Dilemma
Ethics is a discipline of philosophy concerned with the significance of all human actions. Theoretical ethics, often known as normative ethics, determines what is right and wrong in terms of human behavior (Mehta, 2022). Business ethics refers to the study of proper company policies and practices concerning potentially contentious topics such as enterprise control, insider trading, corporate social responsibility, and fiduciary obligations. Customers and various forms of market actors in organizations are guaranteed a certain fundamental level of assurance by business ethics. In their portfolios, a portfolio manager, for example, must consider family members and smaller individual investors. Such procedures ensure that the general public is treated fairly (OECD, 2022).
As an accountant, one of the scenarios that put me in an ethical bind was when the managers at the company where I work asked me to alter the companys financial records and make changes to facts like expenses, revenues, and sales to make the company appear more enticing (OECD, 2022). Making creative accounting is unethical, and disobedience to management is likewise immoral. Because investors were afraid of losing their own money, the enterprises were not running efficiently, making it difficult to obtain loans and share capital. The goal of creative accounting was to make the company appear financially sound and hence more loanable and improve its public image to persuade investors to buy its stock (International Olympic Committee, 2022). Even though the move was questionable, it provided the corporation with significant opportunities to recover from its dire financial status, making the decision to lie in the financial accounts even more difficult.
Some of the ways to solve the above and similar ethical dilemmas in the enterprise include discussing with the organizational management the criticality of honesty and transparency in disclosing the firms transactions an
d other areas. Additionally, one should take an active role in leading by example and refrain from embracing unethical actions since they can tarnish the firms image, hurt the customers and adversely affect the enterprise as a going concern. Leading by example is fundamental in demonstrating the behaviors you would emulate with others. Therefore, organizational leaders should be on the frontline in explaining what they want to see in the employees.
Some of the principles of ethics include beneficence, maleficence and autonomy, among others, vital in guiding our decisions. In the above case, the challenge of autonomy is witnessed as the corporate leaders are obliging the accountant to act against what is right and against his will (Duska, 2022). The firms management is forcing their will and obligating the accountant to falsify the accounts to create a better financial position and image for the firm. To resolve such a principal ethical challenge, the accountant and other firm employees should borrow ideas from experts and religious teaching on the moral codes and appropriate decision-making practices. Additionally, one should be ready to suffer for what is right and ensure that actions they embrace would result in more good and diminished adverse effects on themselves, enterprises and their stakeholders (International Olympic Committee, 2022). Do as you wish that everybody would act in similar situations.
References
Duska, R. (2022). Business ethics: Oxymoron or good business? Issues in Business Ethics, 15-30. https://doi.org/10.1007/978-3-030-73928-7_2
International Olympic Committee. (2022). undefined.
Mehta, S. (2022). Aniteck financial management: An ethical dilemma. https://doi.org/10.4135/9781529781274
OECD. (2022). OECD economic surveys: Tunisia 2022. OECD Publishing.
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