What Is a Dilemma and Give Some Examples?

What is a dilemma and give some examples

* A dilemma is a situation in which two or more options for action , representing varied interest seem equally arguable ,and where the decision is important but neither clear nor simple.

Examples of dilemma

1. The first dilemma: Innovate or Conserve 

We all discuss about the importance of innovation that you should focus on new applications, new markets, etc. But the revenues of innovations are in the (near) future. You should also get the maximum out of your current business. If you do not invest, there comes a moment where current business declines without a new innovation to take over the revenues. If you invest too much it may endanger the continuity of current business.

2. The second dilemma: Own production or Leverage on third-parties 

what it the content of your business? Do you face the production by yourself or do you leverage on third parties? Internet marketplaces are good and successful examples of the last. Both require different competences however. Focusing on core business fits in this category. You concentrate on own production and what is beside your strength you might consider outsourcing to third-parties.

3. The third dilemma: Support or Lead 

You could choose for you business to be in the front of the market or you could be happy supporting others. There are a myriad of possibilities for each.

4. The fourth dilemma: Cooperate or Compete 

This dilemma is more visible within your company than from the outside although it is also present there. Many companies value teamwork, but they organize the activities in a competitive way by setting individual targets. You should balance both.

5. The fifth dilemma: External or Internal focus 

There are entrepreneurs that observe the market and jump in a niche when they see a possible profit. They follow each development in the market and they are flexible first-movers. Others have built up own ideas in a different way of...