Introduction to Ethics
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Ethics in Banking — Ethics in Banking.
One-liners from this chapter
Free sample — 8 of 67 rapid-fire Q&A cards.
What is the etymological root of the word 'ethics'?
Greek word 'ethikos' meaning 'relating to character', rooted in 'ethos'.
Why is ethics operational core to banking, not optional?
Banking collapses without public trust; no balance sheet survives loss of confidence.
What are the three questions ethics continuously seeks to answer?
What are moral standards? Why are those standards? How do people practice them?
Define ethics using the 'public test' according to Deepak Parekh.
Not doing something one would be ashamed of if it becomes public.
List the five objectives of ethics using the D-N-E-P-E mnemonic.
Diagnostic, Normative, Evaluative, Prescriptive, Expressive.
Is ethical conduct necessarily legal conduct in banking?
No. A bank can comply legally but act unethically, e.g., mis-selling unsuitable products.
How does Adam Smith's 'invisible hand' relate to business ethics?
Market exchange benefits both parties; ethics ensures doing well by doing good, not harm.
Is ethics a cost or competitive advantage in banking?
Long-term competitive advantage: ethical banks earn trust, lower scrutiny, higher loyalty.
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