Ethics And Ethics In BBB Bank's Code Of Ethics

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In BBB Bank, a major issue in regards to ethics are the sales tactics of the sales staff. As their objectives were set with rewards based on sales value and volumes, their main focus was selling as many products with the highest value possible. This means that they lost sight of the customer and what it best for them. As a result, other internal departments have been impacted and it had a negative impact on BBB Bank’s reputation.
Andrews should look into changing performance objectives to putting the customer first, as this will help to ensure better customer service and customer focus. He could also look at introducing selling standards that all customer facing colleagues need to adhere to. Colleagues should receive proper training, have …show more content…

The code of conduct should encompass the following five core principles: Integrity, Objectivity, Competence, knowledge, skill and due care, Confidentiality and Professional behaviour. BBB Bank’s code of professional conduct should specifically address the miss-selling of the bank’s products, ensuring that their employees act with integrity and competence. This means not compromising the reputation of BBB Bank by being pushy or aggressive, and to concentrate on selling the right products to the right customers, instead of focusing on sales value and …show more content…

As stated in Michael McMillan’s report Codes of Ethics: If You Adopt One, Will They Behave?, there is no guarantee that colleagues will behave in an ethical manner, just because a code of ethics exists. Andrews will need to ensure that an ethical culture is created and fostered by senior leaders and the board. This means that they need to show their commitment to the ethical values of BBB Bank in their day to day behaviour and actions. Top management needs to ensure that employees will feel confident to discuss and question ethical and unethical behaviour. An ethics code cannot just be a piece of paper; it needs to be lived and enforced every day. Managers should monitor and encourage the right behaviour in their teams and correct any behaviour that does not comply with the

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