This term is part of our Unit 17: Business Ethics vocabulary list. Please note that pronunciations can vary slightly even in the same dialect.
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a situation where a difficult choice has to be made, especially when all options are not desirable
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"The CEO found himself in a dilemma when he faced a choice between two business decisions, one favoring the shareholders at the expense of the employees, and the other benefiting the employees but disfavoring the shareholders."