The paper 'Is Baking an Ethical Dilemma" is a good example of finance and accounting coursework. How long a company is likely to last is mainly determined by how ethical the company is. Being ethical means doing the right and the most honest thing, as opposed to faking statements and cheating customers and the government. It means observing what is right and shunning the wrong practices, no matter how profitable or promising they are. If a company is ethical, then it is likely to last for long enough and this makes the basis for its long-term goal setting (Boatright, 232).
Otherwise, long terms goals cannot be realized if the foundation is weak. A company that does not have ethical policies and principles is likely to collapse and not stand the test of time. However, this is not to say that ethics are the only determinants of the sustainability of an organization. There are other factors that determine the “ shelf life, ” or so to say, of a company. These include strategy, assets and resources, employer-employee relationship, human resource, et cetera. However, ethical issues remain to be the number one determinant of how long a company will stand.
Ethics will determine how much the company will affect the community around it and its generation (Besley 356). Banking Systems Banking is one of the areas in the business that are faced with ethical issues, and banking is at times seen as a practice that is an ethical dilemma. It is almost found impossible to do banking and still maintain a clean record as far as ethics and morals are concerned. Handling huge amounts of money entrusted to you by the public come with many challenges, and it really causes you to stand up against many ethical issues.
It may be surprising to know that 80% of the times which bankers are unethical, they are not so because they intend to or because it is in their bloodstream to be unethical; they become unethical without even knowing it, simply because of the camouflage in which ethical problems present themselves (Robbins 134). Because of this, they fail in being credible and holding integrity towards their customers and the government.
It, therefore, takes very conscious and deliberate steps for a banker to be professional even at times when it is very challenging to do so. For banking systems to maintain a high standard of integrity, they have to take deliberate steps to see to it that a clear communication line is kept between the clients and the bank. In addition, ethics should be observed between employees. Some situations that present themselves are very tricky, and they require high-quality professionalism and sober-mindedness for them to be dealt with properly (Besley 412). However, it can be hard to know the way forward in such situations if there is no written guideline for ethical issues.
A company that does not have these written guidelines usually does not last, because its ethical issues are not dealt with deliberately, but they are left to chance. This makes it very hard to observe high ethical standards especially when the ethical problem involves people in the management (Borden 12).
Besley, Scott, and Brigham, Eugene. Principles of Finance. New York: Cengage Learning, 2008.
Boatright, John. Finance Ethics: Critical Issues in Theory and Practice. New York: John Wiley and Sons, 2010.
Borden, Walter. Banking and Business Ethics. Memphis: General Books LLC, 2010.
Koslowski, Peter. The Ethics of Banking: Conclusions from the Financial Crisis. New York: Springer, 2011.
Lynch, James. Banking and Finance: Managing the Moral Dimension. Cambridge: Woodhead Publishing, 2009.
Robbins, Stephen. Organizational Behavior: Global and Southern African Perspectives. Durban: Pearson South Africa, 2009.