Ethics

Ethics has become a common-word in the corporate world. one of the big reason for this the globalization and the explosion in the communication in the organization. The Internet has made the world more small and open, now-a-days, nothing can be hidden for much time. As a result, businesses are focusing more on the ethics and CSR part. The rules and principles of the organization should be maintained. Business ethics are been given much more importance to nowadays.

Business Ethics

Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.

The ethics that are formed in the organization are not something like rocket science. they are a creation of a human mind. That is why ethics depend on the influence of the place, time and situations.

Unethical practice done by Bank

Who doesn't remember the scandal of the Wells Fargo, its been almost 3 years since Wells Fargo was involved in one of the biggest banking scandals in the history?

"Wells Fargo employee says they still get pressurised  to squeeze extra money out of customers pocket" and that employees "have witnessed colleague bending or breaking internal rules to meet high-performance goals."

There's "no evidence" that workers are secretly still opening account in customers' names, as they did in the past, but employees still have reportedly been pressured by Wells Fargo to sell expensive financial products that customers can't afford, collecting credit card debt at rapid speeds, and send incorrect interest rates and fee calculations on mortgages.

A financial adviser interviewed, he came to know  that the company pushed her to steer clients toward fee-generating investments including an instance in which "it was not in the client's best interest."

In the survey of more than 27000 employees in the bank's information-technology department late last year, top concerns included their ability to raise grievances with managers and whether "Employees recently flooded the bank's internal blog with hundreds of hated comments about wells Fargo's scales incentives, pay and ethics and leaders' "doublespeak," according to screenshots of the blog reviewed by the Times.

Over the past few decades, Wells Fargo seemed to seek new ways to outdo itself in fraudulent activity. After the bank was exposed to its unethical practices.