Name Instructor Task Date Problem statement To demonstrate how ethical decisions are made at the global level between the key stakeholders of VTB Group Corporation (Russian Bank). Reasons why the problem is important Taking business ethic decisions has different importance both the company and its stakeholders…
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Since the people who take on the task of making the ethical decisions addresses more complex issues in the business environment, the task is usually demanding and difficult to undertake (Miller & Jentz, 2007, 63). For a company to come up with a means to handle ethical decisions, moral reasoning has to apply. In undertaking ethical reasoning, various theories have been set up to investigate the circumstances concerning certain ethical standards. Ethical reasoning to determine a way to make decisions uses a number of approaches (Miller & Jentz, 2008, 56). The first approach has a basis on the duties that in certain cases also suggest having certain rights. The other approach concerns or determines ethics by taking into consideration the results or outcomes of a specific action that is undertaken (Miller & Cross, 2009). Further to the basic approaches to undertaking the ethical decisions, various theories have also been developed in an effort to address the issue of corporate responsibility of the corporate organizations. A company using the corporate social responsibility approach considers the results brought about by a certain decision to the stakeholders of that particular organization (Miller & Cross, 2007, 76). Method of Problem Identification The problem was identified by considering the various codes of ethics for various companies and the implementation of these ethical decisions. The ethical decisions were undertaken by applying the ethical reasoning approaches in corporate responsibility. The method for identification proved to be appropriate since discussions and more research concerning the business ethics was different for a number of other corporate organizations. Results VTB group has strived so much to ensure full abiding of the international principles, rules and norms within the countries in which it operates and in the code of ethics as well as individual by-laws. The bank holds a responsibility towards the stakeholders through the provision of better performance and customers for quality services as spelt out by the obligations to the community as well as the state (yd15, 2008, 3). In creating ethical decisions, the group has portrays respect and the worthiness of the human dignity by respecting the various rights and liberties of its employees and customers without prejudice based on ethnicity, social class, political affiliations. The bank ensures a strict compliance to the liberties and freedoms that are considered core values of the organization. The group also considers fair activity towards its competitors as well as the stakeholders and mutual respect in making ethical decisions. The bank creates a strong relationship with its customers, workers as well as other stakeholders within the state concerning the fundamental principles of honesty and general respect. The company respects the mentioned parties values, thoughts and views (yd15, 2008, 3). The bank also considers equity in making of the ethical decisions through the shows of value and concerns for the other human beings. The bank ensure that there are no possibilities of admission of any form of unfair civil liberties or remuneration in the hiring employees and developing their careers or even when offering any material stimulation. The bank also considers the satisfaction that the customers obtain upon delivery of services. The bank has complete awareness in the fact that the bank gets profit if only the customer’
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(Ethics Essay Example | Topics and Well Written Essays - 750 Words)
“Ethics Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/sociology/1393104-ethics.
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