Question

(ii) There are many different types of businesses operating which some are operating ethically but some are not. You are required to choose a business (example: bank, hypermarket, hospital, etc) and explain in detail five ethical conducts and five unethical misconducts that you have been through when dealing with the chosen business.

Answer 1

Business: Banking business

Suppose ABC bank

Ethical conducts:

No.1) the bank provides required information for opening a savings account. Banking staffs and employees show cooperation in this regard.

No.2) they provide yearly statement of account as and when required.

No.3) checks are used to clear within 2 days, although there is a 3-days stipulation supplied by the bank.

No.4) they offer other services (like locker facility, certificate of deposit (CD), checking account, etc.) periodically to the account holders.

No.5) they take “customer survey” frequently. They believe in giving better service always.

Ethical misconducts:

No.1) they are not transparent enough in charging interest (bank charge). Sometimes it looks heavier account deductions.

No.2) Compare to other banks, the interest on deposit on ABC bank is very low. They keep the rate low in savings but high in CDs, so that people become attract with CD.

No.3) the bank has tendency of promoting loans to their existing account holders; but, due to this they disturb people by invariable telephonic calling.

No.4) they charge high locker rent, although the space in locker is very small.

No.5) they are not at all kind with older – older people may not move frequently; sometimes they require home service for depositing or withdrawing money. But they don’t have such ethic to give such service.