Ethics In Banking Case Study

3231 Words7 Pages
bulb-icon

Recommended: Case studies on ethics in finance

ETHICS ASSIGNTMENT ETHICS IN BANKS

G.S.ABHILASH:-PG2015-003
UTTAM KUMAR CHATTERJEE:-PG2015-055
BYSADEV DASH:-PG2015-018
GAURAV KUMAR DESHMUKH:-PG2015-020

(THE TOPIC HAS BEEN COVERED WITH 3234 WORDS.)

ETHICS IN BANKS:
Ethics is the backbone of any business more so in the banking industry as it is mainly a service oriented peoples Bank.

Introduction: An Ethical Bank, also known as a social, alternative, civic or sustainable bank is a bank concerned with the special and environmental impact of its investments and loans. The ethical banking movement includes: ethical investments, impact investment, socially responsible investment, corporate social responsibility …show more content…

May be it is. But there must never be anything whimsical about the rules and regulations in the Banking industry.People must know how/where/why/what for they stand & a real healthy respect of the rules and regulations laid down/fundamental. Rumors, incorrect information, & gossip do tremendous amount of harm. It is bad for business.It is not the brains and ability and drive of the top men-No-in any world-it is the ethics of employees that really matters.
Business Ethics in Banks: Are Banks Special? Yes .the debate continues/will continue-over the years with distinguished bankers/economists, offering their comments in various forums in the context of rapid changes in Banking and technology adoption to deliver services,
What makes Banks Special?
01. Banks are highly leveraged institutions in that owners equity is far too small compared to the equity of the depositors
02. Banks are vulnerable to stocks which may arise from Non- performing assets, frauds, bad management, even rumors which could cause a run out. In such cases, even if one bank is distressed, the panic spreads like wild fire to the entire system soon/even beyond boundaries.The whole economy of the country collapses and hence ethics in banks is

Show More
Related

  • Monopolies In Canada Case Study

    855 Words  | 2 Pages

    The US has a sophisticated banking system that does a good job of allocating resources in productive place for their customers. However, in an area such as investment banking companies can use the deposited money for risky investments such as foreign government and corporate bonds. When these banks lose money on their investments or go out of business, all of the customer 's savings would be gone. Also, in this type of system bankers are more likely to commit fraud such as opening fake accounts vis a vis Wells

    Read More

  • Business Ethics Case Study

    820 Words  | 2 Pages

    Do you agree with Schmeltekopf that business schools are not preparing students well for the for the ethical challenges they will face in the workplace? Why or why not?

    Read More

  • Wells Fargo Ethics Analysis

    1602 Words  | 4 Pages

    To give a description of business ethics as described by John Fraedrich, “business ethics comprises organizational principles, values, and norms that may originate from individuals, organizational statements, or from the legal system that primarily guides individual and group behavior in business” (John Fraedrich, 2017). Principles and Practices in Culture The culture in the branches of Wells Fargo that had managers who required employees to participate in this unethical behavior is more than questionable and forceful. The principles and practices of these individuals and branches may have been laid out before them in the code of conduct, and executives and Wells Fargo as a whole expect these individuals and branches to follow the principles and practices.

    Read More

  • Wells Fargo's Ethical Behavior Of Wells Fargo

    710 Words  | 2 Pages

    As a consumer I want to be able to trust that I can walk inside a well-known bank and not have to worry about the bank employees taking advantage of me. Over the years we keep on hearing about all these financial scams and almost all of the time it is the consumers who are affected and when the scam is brought to light, it is the lawyers who see a big payday. I choose this particular issue because I am tired of the little man, meaning us the consumers being affected the most by these scams. I would think that the millions of dollars in bonus money that these senior level executive make each year would be enough but no they are greedy sociopaths that takes advantage of people who have less than they do in order to become rich and

    Read More

  • Analysis Of Wells Fargo Scandal

    1308 Words  | 3 Pages

    This concern of integrity and organizations like Wells Fargo to do what is right stems from our personal ethical framework. We all have one which helps us decide what is right and what is wrong. It is this decision that is a concern for organizations that must be managed on a day to day basis. Company’s such as Wells Fargo are so big that bad ethical behavior may be overlooked and not dealt with until the damage has already been done. Other organizations need to learn from Wells Fargo and start addressing their own organization ethical framework. This would include the organizational culture, business strategies, employee ethics concerns and the overall ethics and decision-making

    Read More

  • Is Puma Inc an Ethical Company?

    1818 Words  | 4 Pages

    Business ethics simply can be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects need to be taken into account in business decision-making processes. Failure to give attention on ethics may bring consequences on company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also contributing to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).

    Read More

  • Difference Between Unethical And Unlawful Behaviour In The Business Context

    1018 Words  | 3 Pages

    In business the primary focus is on maximizing returns to owners or shareholders. The manner in which a business conducts itself while attempting to make its profit can be considered ethical or not. For instance, a business that has a positive sense of social responsibility will make some effort to have a positive impact on society, contributing to the welfare of the community in which it operates in some way or another. Unethical practice in business could include the converse of this, where a business is solely concerned about its profit and does not attempt to mitigate the impact of its operations in that society. For example, a mining exploration company that does not attempt to ease discomfort and inconvenience of the people that are displaced by its operations could be considered unethical.

    Read More

  • Why Are Ethics Important In The Accounting Profession

    1384 Words  | 3 Pages

    Verschoor, CMA, Curtis C. "Ethics: Do The Right Thing." Strategic Finance (2006). Retrieved on 18 September 2006 .

    Read More

  • Ethical Ethics Case Study

    1665 Words  | 4 Pages

    Many ethical dilemmas are philosophical in nature, an ethical issue can be described as a problem with no clear resolution. In order to solve the issue or dilemma a consensus between the parties involved must be reached. There are several reasons to come to an agreement over an ethical dilemma, it is the basis for all aspects of personal and professional dealings. Each one of us is part of a civilized society and as such it is our responsibility to be rational, honest and loyal in our dealings with others. (Alakavuklar, 2012) states that individuals make decisions for different situations in business life involving various ethical dilemmas. Each time either consciously or unconsciously individuals may follow some ethical approaches

    Read More

  • Business Ethics Case Study

    1348 Words  | 3 Pages

    The Facts: Kermit Vandivier works for B.F. Goodrich. His job assignment was to write the qualifying report on the four disk brakes for LTV Aerospace Corporation. LTV purchased aircraft brakes from B.F. Goodrich for the Air Force. Goodrich desperately wanted the contract because it guaranteed a commitment from the Air Force on future brake purchases for the A7D from them, even if they lost money on the initial contract.

    Read More

  • Ethical Issues in Business

    1834 Words  | 4 Pages

    The textbook defines business ethics as “the accepted principles of right or wrong governing the conduct of business people.” Business ethics also govern the members of a profession and the actions of an organization. Many organizations put into place an ethical strategy which is “a course of action that does not violate accepted principles.” These principles are used to guide organizations and employees to make the right decisions.

    Read More

  • Ethics In The Workplace

    1936 Words  | 4 Pages

    Ethics are the driving force behind good business. Every ethical choice made by a professional can and will have a much different outcome than any unethical choice. Bad ethics can ruin many aspects of a business and as (Gaye-Anderson, 2007) states how quite easily the lives and professional reputation of the employees can even be severally damaged (para. 3). Everything from morale to motivation can be severely affected by poor ethical choices. Customers will take their business elsewhere. Employees will abandon ship. Other, competing businesses reap the benefits of the bad moral choices. Ultimately, the entire business can be brought down by one poor ethical choice.

    Read More

  • The Importance of Ethics in Society

    874 Words  | 2 Pages

    Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.

    Read More

  • Ethics And Social Responsibility

    943 Words  | 2 Pages

    This research paper will try to investigate areas in which companies have struggled to uphold their responsibilities and develop ideas on how management can successfully implement a more effective model of social responsibility and ethical code. Social Responsibility has become an important part of any business. Almost every business or corporation has

    Read More

  • Essay On Banking Sector

    707 Words  | 2 Pages

    It is a known fact that the banking industry plays a huge role in today’s society, the industry has grown rapidly of many decades and still growing. The banking sector is that sector of the society that is actually responsible for the handling of financial assets for other sector of the economy, they do this by investing the financial assets in order to create more wealth in the society while regulating all the activities involved in the process. (What is the banking Sector 2015)

    Read More

More about Ethics In Banking Case Study

Open Document