Examples of ethical decision making that occur in banking industry?
Many banks have opted to play a part in helping the environment by making the decision to go green. Office recycling is common in businesses, so employees can help reduce environmental waste by recycling office paper, cans, bottles and other materials.
Corporate Social Responsibility
Some banks make the decision to
actively better social conditions by improving local economic
conditions, offering opportunities to low-income people or serving
people in need.
Challenges to business ethics faced in today's business environment
Developing a recruitment and selection process that screens candidates who seem likely to embrace the company's ethics can be a challenge. Through reviewing applications, resumes and work history, and interviewing candidates, recruiters can determine whether candidates are qualified for certain jobs based on their functional skills and core competencies.
Many companies mistakenly consider ethics and
compliance intertwined. They are not. Combining ethics with compliance
removes checks and balances, making objectivity of any kind virtually
impossible. Ethics refers to the manner in which you do business and
whether your company, its management and staff conduct business in a
manner that conforms to certain business standards and principles.
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