Running Head: BUSINESS ETHICS IN THE BANKING INDUSTRY

Business Ethics in the Banking Industry

Students Name
Institution Affiliation

BUSINESS ETHICS IN THE BANKING INDUSTRY

Introduction
Information Technology organization like IT companies and professionals are being faced
with ethical problems in the past decades. The IT companies and professionals have been trying
to ensure that the stakeholders have increased dividends as well as maximized profits; as a result,
they have ended up with ethical dilemmas. It is clear that the IT companies and professionals
have no reasons for that, but a cab only accounts the profits they have made in each Information
Technology year (Audi, 2012). Managers, as well as the IT companies and professionals
employees, are on the pressure that they should be able to meet the needs and demands of the
customers making it hard to meet ethical needs and demands. The measure of success of IT
companies and professionals have been only on the improvement of the banks assets as well as
maximization of profits. Government as well as IT companies and professionals watchdogs have
failed to identify the ethical issues that IT companies and professionals are facing at the moment,
in the past as well as they expect to the same happen in the future (Bunge, 2012).
Ethical Description
IT companies and professionals sales department is noted to the highest when it comes to
ethical violations because it is the only department that is associated with maximization or banks
assets as well as profits. There are various ways that the IT companies and professionals violate
the protocols hence considered as ethical issues of dilemmas (Elms, Brammer, Harris & Phillips,
2010). 1. The IT companies and professionals do not consider customers satisfaction but rather
consider maximization of its assets and profits, the wellbeing of the Information Technology
status of the clients are not considered hence attributes to an ethical problems or dilemmas
(Ferrell & Fraedrich, 2014). Bank manager works hard to ensure that the shareholders get high
dividends hence not able to meet the needed customers needs.

BUSINESS ETHICS IN THE BANKING INDUSTRY

The IT companies and professionals are never ready to share their Information
Technology statement with the clients as well as other stakeholders in fear that this will indicate
the ethical mistakes that they undertake (Thorne, Ferrell & Ferrell, 2010). Therefore, the mistake
of not revealing their Information Technology statement based on their sales is considered as an
ideal way to that indicates that the IT companies and professionals have an evil undertaking in
their day to day transactions. Such ethical dilemmas are among those that the IT companies and
professionals sales department is violating on daily basis. Despite the fact that the IT companies
and professionals in the contemporary world can satisfy their shareholders, they do that by
exploiting the customers via the above violated ethical means (Trevino & Nelson, 2010).
Justification
First, there has been increasing poverty levels among the clients who save in IT
companies and professionals as compared to those that invest their monies directly to projects
like housing as well as other construction projects. The value for money is not felt by the clients;
hence, this is considered as one of the ways that the IT companies and professionals are not
giving the straight side of the business to the clients who they consider as their largest
stakeholders (Trevino & Nelson, 2010). Being the largest stakeholders, they do not get the
benefits of banking with others benefits that clients should expect from the IT companies and
professionals (Uysal, 2010).
Solutions
There are many solutions to the ethical issues that banking clients get, however, the main
ones will be considered below: 1. the government should be able to meet the needs of the clients
by coming up with a measure to support ethical rights. The government should be able to come
up with measure and policies to support the success of the IT companies and professionals.

BUSINESS ETHICS IN THE BANKING INDUSTRY

These regulations should be able to ensure that the value for money for the clients is measurable.
The policies should be able to explain the process that the IT companies and professionals make
their profits one after the other (Pies, Beckmann & Hielscher, 2010).
Conclusion
I consider that the speed of ethical breaches in the banking industry is one the peak and
the effects of it are felt by the customers. Therefore, regulations amid cushioning the clients
should be preferred more than that protect the IT companies and professionals. The government
should be on the forefront to ensure that it supports not only the IT companies and professionals
but also the clients. Ethical principles should be strong and effortful to keep good rights in place.

BUSINESS ETHICS IN THE BANKING INDUSTRY

References
Audi, R. (2012). Virtue ethics as a resource in business. Business Ethics Quarterly, 22(02), 273291.
Bunge, M. (2012). Treatise on Basic Philosophy: Ethics: The Good and The Right (Vol. 8).
Springer Science & Business Media.
Elms, H., Brammer, S., Harris, J. D., & Phillips, R. A. (2010). New directions in strategic
management and business ethics. Business Ethics Quarterly,20(03), 401-425.
Ferrell, O. C., & Fraedrich, J. (2014). Business ethics: Ethical decision making & cases. Cengage
learning.
Griseri, P., & Seppala, N. (2010). Business ethics and corporate social responsibility.
Pies, I., Beckmann, M., & Hielscher, S. (2010). Value creation, management competencies, and
global corporate citizenship: An ordonomic approach to business ethics in the age of
globalization. Journal of Business Ethics,94(2), 265-278.
Thorne, D. M., Ferrell, O. C., & Ferrell, L. (2010). Business and society: A strategic approach to
social responsibility and ethics. South-Western Cengage Learning.
Trevino, L. K., & Nelson, K. A. (2010). Managing business ethics. John Wiley & Sons.
Uysal, . . (2010). Business ethics research with an accounting focus: A bibliometric analysis
from 1988 to 2007. Journal of Business Ethics, 93(1), 137-160.
Zikmund, W., Babin, B., Carr, J., & Griffin, M. (2012). Business research methods. Cengage
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