The banking industry is in a continuously global change from the varied and diverse customer backgrounds and the insatiable taste and preference among their clients. The aspect of financial dealings between the HSBC Bank USA and its customers calls for upholdinga highly esteemed corporate ethics in order to heighten the trust and raise the level of confidence of both potential clients and clients to be. The several banks acknowledge the dynamism in the banking industry and a participant in such an industry scales its competitive edge through greater standards of organizational ethics.
How ethical principles address organizational issues
The ethical principles address the organizational issues in a number of ways as this paper depicts.In particular, the banking systems face stiff competition and constantly changing environment and therefore an elaborative framework of ethical concerns and organizational prosperity becomes highly inevitable.
Respect for others
Treating everyone with respect scales the reputation of the organization and create stronger public relations (Lozano, 2000). Ethical executives show respect for human dignity, rights, privacy, interest and autonomy of every party who have a stake in the organization’s decisions. The demonstrated high levels of courtesy by treating everyone with equal dignity and respect irrespective of national origin, race, sex and ethnicity. The Golden Rule of treating people how you expect to be treated mean a lot to these organizational executives. The public feel at ease and will always want to be part of such organization where their dignity is held with priority.
The ethical executives tend to justify their level of trust through being loyal to the organizational they work for and even the people they interact and work with. These ethical executives put a high value on advancing and protecting the lawful and legitimate interests of their colleagues and companies. The demonstration of loyalty among these ethical executives is through safeguarding their capability to make judgments which are professional and independent (Zerbe, Hartel &Ashkanasy, 2008). The keep distance from disclosing information learned in confidence for any personal reasons and also avoid cases of conflict of interest. When resigning, the ethical executives give reasonable notice, have respect for the proprietary information from their former employer and do not engage in any form of dealings which would take undue advantage with regards to previous positions.
The influence of external social pressure on organizational ethics
The pressure caused from external sources has been the foundation on which business ethics is driven. Several organizations give considerations to social expectations in the aspects of environmental responsibility and the general community involvement.
Reaching beyond the law
There has been need for organizations to reach beyond giving considerations to ethics by merely meeting legal parameters. The evolution of business aspect through internet and information dissemination globally organization keep track of unquestionable practices to uphold a greater image all the world by including social corporate responsibility within their framework of mission statements to differentiate them from their competitors (Gilliland, Steiner & Skarlicki, 2007).
Among the various ways in which communities use social pressure to influence organizational ethics is through organization of boycotts in particular circumstances in order to force organizations to reconsider environmental or social decisions. A number of organizations have changed particular processes and actions to ensure preservation of the environment due to the pressure exerted by the environmental watch groups and the general public.
Relevance of ethical concerns to organizational and personal decision making
The concept of ethics within an organization setting entails the aspects of business dealings with ethical consciousness. There have been a significant global evolution of the concept of business ethics over time. This entails operating a business in a manner that does not break the law or be in violation of core moral principles and guidelines (Lozano, 2000). The broadening of the business ethics has encompassed more proactive measures and efforts in ensuring good citizenship and sincere business practices. The basing of this concern is majorly on the societal expectations that there is need for the organizations to meet demands of treating customers honestly, charitable giving and community involvement, business activities which are environmentally friendly, and fair employees’ working condition.
The relationship between legal and ethical issues
The legalissues encompasses those concerns arising from all the processes, equipment, practices, cultures, language among other relative aspects in the system of the law. While ethical issues are moral virtues and standard that are expected of one to portray in every context.Theargument is supported by Sims (2003) that the existence of relationship between the two concepts is seen as the base concepts of law and ethics have similar kind of relationship. For instance, a number of laws have their origin in ethics while ethics is based on the perception of the wrongness and rightness of a conduct or an act.
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