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Solving Ethical Problem - Case Study Example

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Summary to case study on topic "Solving Ethical Problem"
Loan department has been placing financial burdens to its customers on matters which the bank can carry out. This has raised ethical issue and has raised concern and misunderstanding between staff of the loan department…
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Download file "Solving Ethical Problem" to see previous pages... Ben Garishon,a senior loan officer with first national Federal bank ,the second largest institute in Wyoming does not really understand what ethics are when dealing with bank loans customers. This is proved by the fact that he puts the burden of the cost of trip to assess the collateral of loan application on Dough Whitton,
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a loan applicant. Ben further states that loan customers were obliged to donate prizes for annual fundraisers picnic. Shelby Grant, a loan officer feels that asking the customer to pay the cost of trip to assess the collateral and asking loan customers to contribute prizes to annual fundraisers as being unethical. As a result, Ben and Shelby are at loggerhead and this clearly brings out the fact that ethical standards when dealing with customers need to be assessed and a solution found to avoid confusion and misunderstanding.
The point of contention to loan department within the bank is whether it is ethical to transfer the cost and obligations of the bank to the customers which brings out the problem as lack of understanding of business ethics by members of staff..
Loan department has been placing financial burdens to its customers on matters which the bank can carry out. This has raised ethical issue and has raised concern and misunderstanding between staff of the loan department. Some members of the loan department such as Ben Garishon is resistant to change about the new ethical issues facing businesses. He fears that change in covering the cost of trips to assess customer's collateral will be costly to the bank and that the bank will not enough money for charity if it do not compel the loan customers to contribute prize to annual fundraiser picnic. Andrew law states," You don't get creative by staying in the same place" and that is why failure by the organization to change has been left behind in ethics related matter and this is the bone of contention between Ben and Shelby. In the cause/ effect aspect of a problem, the cause of the problem is failure to apply ethics when performing business operations and this has several effects to the business, employees and the customers. According to the case, the problems are as a result of failure to accept changes in business ethics. The assumption by Ben is that the business does not have to maintain ethical standards as doing so is likely to be costly to the business and since he is the senior loan officer, his decision are the best and does not consider the opinion of other members. Due to this fact, disagreement will arise between the members of the staff which is likely to cause disappointments to the customers as in the case where Shelby Grant refused to call customers to contribute prizes in fundraising picnic and his refusal to go and evaluate loan collateral. These problems can be solved through dialogue and constant education on changes in business ethical trends within organizations.
The best solution to tackle the ethical problem within the organization is through educating the staff about the importance of maintaining ethical standards within the business and allowing dialogue among different officials within the organization to iron out contentious issues and reach an amicable consensus on why and how to apply different ethics in business. Through education and dialogue, different view points will be considered and a solution obtained to ensure that all members comply with modern business ethical standards. This will also enhance consultation before any decision is made.
Swot analysis of educating staff on ethics
Strength: Through ethics education, members of staff will be taught new information about ever changing ethical trends in business cycle and so they will be able to cope with any change without much problems.
Weakness: Since ethical issues within the organization are varied and ever-changing, education tend to be time consuming and most aspects of ethics are not likely to be covered.
Opportunities: Education will arm the staff with business ethics that will ...Download file "Solving Ethical Problem" to see next pagesRead More
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