Ethical Banking an oxymoron or a change in banking...

Ethical Banking: an oxymoron or a change in banking practices required in the twenty first century? In the modern world, financial institutions are being held to strict regulation in a post Global Financial Crisis era yet financial institutions are still outlining their message of strong social responsibility. Is this all a faà §ade or are financial institutions truly holding themselves to the strong message their claim? The pursuit of becoming a good corporate citizen and maintaining an ethical stance is becoming increasingly expensive for businesses worldwide, through issues such as sweatshops, child labour and environmental destruction. As one of Australia’s largest and most powerful financial institutions, the Australian New Zealand†¦show more content†¦Organisation must accept responsibility for their actions to stakeholders for its actions and decisions, as stakeholders can be large groups of the community outside the firm. They must consider the range of deci sions from social issue to environmental both internally and externally to the organization (Barrile, 2009). Businesses spend large quantities of shareholders’ profits to ensure that companies are seen in good light throughs acts of philanthropy, such as ANZ with their charity partnerships with a range of charities including National Breast Cancer Foundation, National Heart Foundation, Red Cross, and RSPCA (ANZ.com, 2014) While businesses use CSR externally to represent the company, a business aims to hold them to strict ethical internal practices relating to gender and race equality within the organisation. Businesses must contemplate before investing large sums of money away from the business as CSR can only be beneficial to the firm if the community recognises it as. Some critics suggest the use of CSR as a string of cheap tricks to hoodwink the public and divert attention away from institutes the damaging impact of business elsewhere and deflect true responsibility (Corp orate watch, 2008), while some argue CSR is a tactic which can only last so long due to constraints of natural climate changes and the inevitable damages related to our increasing rate of population growth. AlthoughShow MoreRelatedFundamentals of Hrm263904 Words   |  1056 PagesPrinted in the United States of America 10 9 8 7 6 5 4 3 2 1 Brief Contents PA RT 1 Chapter 1 Chapter 2 UNDERSTANDING HRM The Dynamic Environment of HRM 2 Fundamentals of Strategic HRM 28 PART 2 Chapter 3 Chapter 4 THE LEGAL AND ETHICAL CONTEXT OF HRM Equal Employment Opportunity 56 Employee Rights and Discipline 84 PART 3 Chapter 5 Chapter 6 Chapter 7 STAFFING THE ORGANIZATION Human Resource Planning and Job Analysis 110 Recruiting 132 Foundations of Selection 154 PARTRead MoreStephen P. 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