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Ethics in Banking and Finance. Exploring the law and regulation which underpins ethical behaviours of firms and individuals operating in the financial services sector. Leadership, governance, systems and controls. Introduction. Governance. Leadership, responsibility and accountability. Risk management and control framework. Key sources.
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Oct 2, 2023 · Our free to download pieces provide thought leadership and practical guidance to those involved in developing and promoting business ethics.
- What Is Values?
- What Is Norms?
- What Is Beliefs?
- What Is Standards?
- Relationship Among Values, Norms, Beliefs and Behaviour
- Types of Values
- Few Other Types of Values
- Business Ethics and Values
- Value-Based Management
- Factors Responsible For The Enhancement and Dilution of Human Values
Values basically mean moral ideas, universal conceptions or points of reference towards others. These are key factors that drive the behaviour of an individual or an organisation. In other words, values can be defined as the interests, attitudes, inclinations, requirements, emotions and character of individuals. The following are some popular defin...
Norms are informal guidelines regarding what is righteous and what is erroneous in a particular social group. These norms form a control system as they are used as a means to influence the members of a social group. Norms can be formal or informal. Formal norms are explicitly written down and people who violate these norms face a strict action. All...
Beliefs refer to basic assumptions and feelings of individuals towards other individuals, events or various other aspects. These beliefs help individuals to carry out their actions in a specific way. The belief system of an individual starts developing early in their life; however, there is only a little understanding regarding beliefs. There is a ...
Standards refer to a level or degree of a specific parameter. Standards may be measurable or immeasurable or may or may not be documented. For example, in a test, scoring 50% to clear the test is a standard. In an organisation, standards should be based on ethics. Ethical standards promote values such as trust, fairness and honesty. Generally, orga...
The interrelationship between values, morals, ethics, principles and behaviour is shown in Figure: As per Figure, values possessed by an individual can be determined by behaviour they demonstrate. For example, an individual works extremely hard to achieve goals. In this case, it can be said that the individual values achievement/success. It means t...
Since time immemorial, humans live together in a community and develop values shared by other members of the community on what is good or bad and right or wrong. These values largely influence the behaviour and attitude of individuals in a community as well as at their place of work.
Personal Values
These are values that guide the entire life of individuals. Personal values also determine the behaviour and conduct of individuals in society and ascertain how they relate to other individuals. These values are family values, socio-cultural values and individual values.
Family Values
Every individual belongs to a family and every family has a set of values that can be good or bad. Family values are basically derived from parents and are passed on to children in the family.
Social-cultural Values
These values are ingrained in society and change with time. Social-cultural values may or may not resemble family or personal values. They constitute a very complex mix of various values. These values, at times, may even be contradictory.
As discussed, business ethics deals with ethical principles and problems that may occur in a business environment. Showing ethical behaviour in business can bring a number of benefits for an organisation. For example, an organisation with ethical practices would be able to win the trust of customers; retain employees and attract investors. This wou...
In the recent years, many new management approaches have emerged with an aim to improve organisational performance. Some of these approaches are Total Quality Management (TQM), continuous improvement, Business Process Reengineering (BPR), kaizen, etc. Most approaches are successful in improving the business performance of organisations except a few...
During the last few decades, the world has witnessed diminishing human values. The primary cause of these diminishing values is that individuals nowadays seek for materialistic pleasures at the same time forsaking their values. This scenario of diminishing human values is prevalent all over the world especially in developing countries like India. T...
“Business ethics” is a concise, but in many ways misleading, label for an interdis-ciplinary field covering a vast range of normative issues in the world of commerce.
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New case studies draw students directly into recent business ethics controversies, such as sexual harassment at Fox News, consumer fraud at Wells Fargo, and business practices at Uber.
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Sep 8, 2022 · Business ethics and values : individual, corporate and international perspectives. Blending academic theory with real-world cases, the third edition of this book provides a self-contained course in business ethics.
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Mar 19, 2022 · The Oxford handbook of business ethics. The methods of business ethics / Ronald M. Green and Aine Donovan -- The place of ethical theory in business ethics / Robert Audi -- The idea and ideal of capitalism / Gerald Gaus -- The public authority of the managers of private organizations / Christopher McMahon -- Corporate responsibility and its ...
