Evaluate the impact of a selected business s ethical behaviour on stakeholder s and the business

Investors value well-governed companies significantly higher. Other studies have linked broad perceptions of the quality of companies to superior share price performance. On the other hand, research into the relationship between specific corporate governance controls and firm performance has been mixed and often weak.

Evaluate the impact of a selected business s ethical behaviour on stakeholder s and the business

How to Write a Summary of an Article? The group employspeople across 30 countries and operates out of more than sites worldwide. So their aims and objectives are to work harder to make cooperate banking better, to Provide service and support to make other businesses grow and provide them succeed in the most competitive markets and finally Improving customer service and gaining customer loyalty.

As a financial institution it is necessary that RBS think and plan carefully before they make any decision or take any action in the business. They are dealing with financial products and service so they really need to focus on being ethical and behaving in a way that crime is not involved.

Regulatory bodies work very hard to prevent any unethical behaviour that will not be tolerating by the authorities in charge for banking behaviour. Regardless regulatory bodies monitoring banking activities and putting laws and procedures in place for banks to abide by; unethical behaviour still takes place in banks often by individuals or groups or the bank as a whole.

Unethical behaviour has taken place in RBS and their behaviour has had a huge impact on various shareholders in different ways.

RBS just like many other banks has had history of mis-selling Payment Protection Insurance to customers. PPI was a Payment Protection Insurance that is insurance on loans and other borrowings; people used this insurance so if the debtors die or lose their jobs then the insurance will pay off the loan.

Customers bought this insurance knowingly or unknowingly but were not told clear information about what the real circumstances will be if the person is unable to pay the loan. This insurance only paid out minimum repayments for only a minimum time for about twelve months.

Customers were tricked and they paid the PPI which was no use to them when they were unable to pay off their loan. RBS has already lost a lot of money paying back compensation. After the PPI loss they have really focused on how to prevent misspelling products so they will not have to face paying out compensations again.

This is not a good image of RBS in front of their shareholders as they have disadvantaged their shareholders by decreasing their dividends. Customers have been victims of PPI as they have been paying extra charges on their loans and on other amounts borrowed from RBS.

Mis-selling gave people the wrong impression that they were insured if they lost their jobs or their source of income.

Evaluate the impact of a selected business s ethical behaviour on stakeholder s and the business

The Financial service authority and other regulatory bodies also have also suffered financially as they had to pay employees at FSA to investigate the PPI scam.

This is time consuming for them as they need to make sure that everyone who paid PPI is compensated.

Business Ethics – impact of the stakeholders - caninariojana.com

They have to spend time to investigate and fine banks so next time they will not do anything unethical again.

After this incident FSA are being stricter on the way that banks operate and have amended laws regarding selling products to customers and banking what the bank is allowed to do and what they are restricted to do. The FSA is looking into how banks interact with customers and are paying more attention to all products that banks are selling.

RBS needs to build up their trust with stakeholders again by providing them with information based on facts and only sell them with products that are relevant to individual customers depending on their needs. UK banks and businesses are not allowed to provide financial services to people on the HM Treasury Sanctions list.

They did not look into customers to see the source of money they received or cashes out of their accounts.JSTOR is a digital library of academic journals, books, and primary sources.

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D1 Evaluate the impact of a selected business’s ethical behaviour on stakeholders and the business. A clear understanding of the topic is shown The use of relevant models, theories and methods are applied The script is Presented clearly and with a coherent Structure Referencing is provided for citation and research work.

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Evaluate the impact of a selected business s ethical behaviour on stakeholder s and the business
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