Meaning ● Ethical dilemmas for SMBs involve complex situations where choosing between different courses of action requires weighing competing ethical principles, often without a clear-cut right or wrong answer. ● These scenarios arise frequently in areas tied to SMB growth, where aggressive expansion strategies may conflict with fair labor practices, demanding strategic insight. ● With automation implementation, data privacy concerns and the potential displacement of employees present significant ethical hurdles. ● Furthermore, SMBs face unique ethical issues regarding resource constraints, competitive pressures, and relationships with larger organizations, requiring careful navigation. ● As SMBs implement new systems, ensuring data security and transparency in algorithms is paramount, especially to maintain stakeholder trust and ensure long-term viability. ● The pressures of maintaining profitability while upholding ethical standards often require SMB leaders to make tough decisions that impact employees, customers, and the broader community, which could be viewed as both a business challenge and opportunity to exhibit business innovation.
