📝 One-liners · 66 cards
Ethics, Business Ethics and Banking
What is the most accurate definition of 'business ethics' in a banking context?
Business ethics in banking refers to the application of ethical principles to business decisions, balancing profit-making with responsibility to customers, employees, society, and the environment.
Why is the belief that 'staff are already ethical and need no training' considered a myth in banking?
Acting ethically is difficult; good character alone cannot resolve complex dilemmas.
Why is mere legal compliance insufficient to constitute business ethics in banking?
Compliance with laws sets only a minimum standard of conduct; business ethics goes further by requiring banks to act with integrity, fairness, and moral responsibility beyond what the law mandates.
Is Corporate Social Responsibility (CSR) the same as business ethics in banking?
No, CSR is only one aspect of business ethics; CSR does not cover workplace ethics.
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