...Weiyuan (A0086030R) Pham Thi Cam Nguyen (A0074425H) Reymond Edlin (A0083418A) EG2401 Engineering Professionalism Group 3 Final Report EG2401 Engineering Professionalism Group 3 Final Report Contents Abstract I. Introduction/Background II. Method III. Discussion 1. Bribe or Gifts? Ethical or Unethical? 2. Case Studies and the Scenario Case Study # 1 Case Study # 2 Case Study # 3 3. Limitation IV. Conclusion References EG2401 Engineering Professionalism Group 3 Final Report Abstract Gift receiving has long been a problem in evaluating the ethicality of engineers. In this study, we analyse the ethical boundaries of gift receiving. The foreground for this analysis will be based on several factors, including the value of the gifts and the behaviour (or intention) of engineers after receiving the gifts. These criteria will underpin the discussion for the scenario on whether it is ethical for engineers A, B and C to receive gifts from contractors and suppliers, given that they are involved in the bidding process to select the from the same contractors and suppliers. This report will also evaluate various ethical concerns by comparing the scenario against three different case studies, which will act as the three different extents of moral lines that are set in place. These comparisons would be used to derive a conclusion for the scenario, being that it is unethical for the engineers to accept the gifts given to them. I. Introduction/Background “I have often noticed...
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...Department, Faculty of Economics and Business, University of Brawijaya, Malang, Indonesia; b Center for Islamic Development Management Studies, School of Social Science, Universiti Sains Malaysia, Malaysia Abstract The majority of the Indonesian population is Muslim, in which the share of Sharia Banking is only three (3) percent of the total banking market share in the country. This indicates a low participation, possibly leading to a negative perception on ethic reputation and low awareness among the Muslim communities in using sharia banking products and services. The objectives of this paper are to analyze the influence of sharia banking organization ethics reputation on Muslims customer loyalty and to analyze the role of satisfaction as a mediating effect on sharia banking organization ethics reputation on Muslims customer loyalty for the sharia banking products and services. Survey with 315 respondents in the city of Malang, Indonesia was conducted to gather information to further understand the situation, to answer the questions raised and to meet the study objectives. Purposive sampling was used to select the relevant respondents. The Structural Equation Model (SEM) is used to analyze the direct and indirect relationship between sharia banking organization ethic reputation, satisfaction and Muslims customer loyalty. The findings of this study showed that all independent variables significantly influenced the dependent variable, both directly and indirectly. Satisfaction as...
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...Research Proposal on Islamic Banking Table of Contents TOC \o 1-2 1) Research Title PAGEREF _Toc \h 3 2) Introduction to the Research Topic and Main Research Question PAGEREF _Toc1 \h 3 3) Literature Review Outline and Detailed Research Questions PAGEREF _Toc2 \h 5 3.1) Introduction PAGEREF _Toc3 \h 5 3.2) Background of Islamic Banking PAGEREF _Toc4 \h 5 3.3) Features of Islamic Banking PAGEREF _Toc5 \h 6 3.4) Determination of Whether Islamic Banking is a Matter of Semantics PAGEREF _Toc6 \h 8 3.5) Detailed Research Questions PAGEREF _Toc7 \h 10 4) Ethical Considerations PAGEREF _Toc8 \h 10 References PAGEREF _Toc9 \h 12 Bibliography PAGEREF _Toc10 \h 17 1) Research Title “Islamic Banking: A Matter of Semantics?” 2) Introduction to the Research Topic and Main Research Question Islamic banking is denoted as a banking system, which is mainly governed by the principles that have been formulated by the Islamic Shariah (Hasan, 2012). In general, the term Islamic banking is not only typically based on evading internet-based transactions that are strictly prohibited under the law of Shariah, but also discards any sort of unsocial or unethical practices (Ahmed, 2011). With this concern, it can be affirmed that Islamic banking is regarded as the procedure of transforming predictable money lending into transactions that are fundamentally based upon real as well as tangible services (El-Gamal, 2006). This banking...
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...COLLEGE OF ECONOMIC AND MANAGEMENT SCIENCES DEPARTMENT OF BUSINESS MANAGEMENT An assignment submitted in partial fulfilment of the course: INT4801 (International Business) Assignment 03 Due Date: 09 October 2015 Table of Contents TABLE OF CONTENTS ..................................................................................................................................................... 1 QUESTION 1: CRITICALLY EVALUATE THE IMPORTANCE OF WORLD TRADE ORGANISATION (WTO) AS A REGULATORY BODY IN INTERNATIONAL TRADE ARRANGEMENTS. .................................................. 2 INTRODUCTION ......................................................................................................................................................................... 2 AGREED LIBERALIZATION ............................................................................................................... ERROR! BOOKMARK NOT DEFINED. RULE OF LAW.............................................................................................................................. ERROR! BOOKMARK NOT DEFINED. QUESTION 2: EXTENSIVELY ANALYSE THE RELEVANCE OF SUBSIDY AS AN INSTRUMENTS OF TRADE RESTRICTION, ESPECIALLY IN AGRICULTURE SECTOR. ................................................................... 9 INTRODUCTION ...........................................................................................................................................................
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...by organization that goes beyond making profit and legal obligation towards the society adapted from (Ghillyer, 2010) and (SCHWARTZ & SAIIA, 2012) (Brown & Forster, 2013)). More company also nowadays become more aware of CSR (Bondy, et al., 2012) and sees it as a positive tools (Harjoto & Jo, 2011) As an organization fail like in the case of Midland and Southern Bank people are become more interested in how is an organization going (Johnson, et al., 2009). The interest shift as problem hits, as organization rely on peoples trust to run the organization (Cohen & Dienhart, 2013). This cause the organization to have more moral obligation to the growing network on stakeholders (Polonsky, 1995). Management especially in the case of Midland and Southern banks are being judge by stakeholders morally. As organization obligation re managing stakeholders (Nicholson & Newton, 2010). Approaches that are taken to judge organization are shown in research by Carroll’s (1987) (Carroll, 1991) which will be further discussed below. However, Midland and Sothern bank in the end was acquired by HSBC after it failure (Lee, 2009). It also seems that based on the case government started to create more firm regulation after the issue happen. 2.0 Senior Management Role and Obligation: high salary justified or unjustified? Senior management which includes board of director have important roles in an organization. Directors and senior management roles include overseeing risk, strategy, organization...
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...The Banker And The Campus Uproar Student’s Name Institutional Affiliation Discussion Questions * Why would a bank consider making a mortgage loan or home equity loan to a homeowner who could not make the scheduled loan payments--wouldn’t this end up hurting the bank? Answer: Before advancing loans to the potential customers the banks consider certain things with the help of documents and tools. The financial position to the best of knowledge is assessed. But there is always a risk of default at the debtor’s end. Therefore, the bank bears the risk. For the minimization of this risk, the banks secure themselves with the help of securities and collaterals. In term of house loans, the house which is for which loan is advanced is taken as the collateral. A charge of bank is created over that asset by the bank. In case of default in payments by the debtor, the bank acquires that house and recovers the money of loan and interest by selling the house in auction. Any residual value after paying the bank liabilities is returned to the debtor. Therefore, throughout the loan tenure, bank is secure and reduces its risk with the help of collaterals. * After considering Cristina’s likely motives, incentives and behavior, do you believe she had conflicts of interest that were so serious she would knowingly recommend loans that were harmful to her clients’ interests? Explain your answer. Answer: The motives of Cristina were own wealth maximization. She was offered benefits on selling...
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...John Razel A. Mapaye BSA –IV Accounting Synthesis Case Name: “The Vatican Bank: Conforming to Caritas in Veritate?" By Richard Hudson Facts: The Institute for Religious Works (IOR), commonly known as the Vatican Bank is one of the most secretive and controversial financial institutions in the world. Since the inception of the modern Bank in 1943, the Vatican Bank has faced a series of scandals relating to its role in the Second World War, accusations of money laundering and its role in the collapse of Banco Ambrosiano in 1982. However, what makes these scandals and accusations particularly interesting is that the Vatican Bank operates within the Catholic Church, an organization with its own tradition of financial ethics developed over multiple centuries. Pope Benedict XVI’s encyclical, Caritas in Veritate represents the most recent expression of Catholic thought relating to financial ethics. This article considers whether these scandals directly contradict the ethical stance of the encyclical and whether this in turn undermines the Vatican Bank’s ethical standing. The Vatican Bank: What is it and how does it work? The name ‘Vatican Bank’ is a somewhat misleading name as it implies the Vatican Bank is heavily integrated into the Holy See (the microstate consisting of Vatican City). In fact, the Vatican Bank is a privately held bank, rather than a state-owned bank, and therefore its assets are not directly connected to the Holy See. Despite the Vatican Bank’s...
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...Ken Lewis’ Ethical Dilemma by Kristen Carmichael Professor Kelly Global/Ethical Issues in Business August 20, 2010 Two years ago, Ken Lewis, the former CEO of Bank of America, was confronted with an enormous predicament when Ben Bernanke and Henry Paulson requested that his company immediately acquire Merrill Lynch to save them from declaring bankruptcy. With the financial system of the United States on the verge of collapsing, how do you say no to the Federal Reserve Chairman and the Secretary of the U.S. Treasury? Thus, Lewis agreed. Now fast forward one year later to September 2009. At this time, Lewis has agreed to step down as CEO. He has also been indicted for fraud for “deliberately misleading his shareholders about the ballooning losses at Merrill Lynch” before the bank bought the firm, which includes failing to disclose the year-end bonuses that were paid out to Merrill executives (Fitzpatrick and Eckblad). Furthermore, this begs two questions: what ethical dilemma was Lewis facing during this crisis and how could he have better handled the request from Bernanke and Paulson? Assuming I was Ken Lewis when Bernanke and Paulson requested me to acquire Merrill Lynch, I believe I would have gone through with the acquisition as well. According to House Republican staffers in a memo obtained by Bloomberg, “the Federal Reserve and U.S. Treasury overstepped their authority and pressured Bank of America to complete its Merrill Lynch purchase” (Lanman and Torres). The memo...
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...A Developing Country Perspective of Corporate Social Responsibility: A Test Case of Bangladesh Ali Quazi, The University of Newcastle Ziaur Rahman, IITM, Bangladesh Byron Keating, University of Wollongong Abstract The ‘social contract’ between the corporation and the community is of critical importance. The motivations for these contracts are continuously being revisited to understand how CSR programs can nurture and contribute to the growth of firms. While CSR issues are attracting a great deal of attention in the developed world, there is a need for more research into CSR in the developing world. This paper considers the CSR practices of a small sample of multinational corporations (MNCs) and local firms in Bangladesh to better understand this situation. Introduction Corporate social responsibility (CSR) has generated significant debate in academic and corporate circles in recent times. This debate acknowledges the importance of CSR in the first-world, but raises questions regarding the extent to which corporations operating in developing countries have CSR obligations (Jamali and Mirshak, 2007). Conventional wisdom suggests that CSR is more relevant to corporations operating in the developed countries due to elevated community expectations of socially responsible behaviour. In contrast there is also a belief that societal expectations in the developing countries mainly centre on economic growth; therefore relegating CSR to be of lesser importance to the society and...
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...values, family background, culture, education, and religion or philosophy before making important decisions. These factors provide the framework from which we base our decisions and justify our actions. Unfortunately not everything in life is so cut and dry, there often exist many gray areas that can lead to ethical dilemmas, since what one person thinks is the right course of action might not always appeal to everyone else’s ethical sensibilities. For many the words “business” and “ethics” form an oxymoron. We are frequently inundated with reports of ethical misconduct in the business world—misappropriated finances, inflated earnings, labor misconduct, and environmental recklessness are just a few of the many egregious acts to which we have become familiar. In this reading, we will explore the importance of business ethics and closely study how it relates to corporate success. We will take a look at several stellar examples of companies that regularly exhibit high ethical standards. While you read, consider how your personal ethics come into play when you make business and personal decisions that affect others. Codes of Conduct The first step towards implementing ethical business practices is to clarify what types of behaviors a company wishes to promote and what activities are considered unacceptable or prohibited in the workplace environment. As part of this step, an organization should adopt a thorough, all encompassing code of conduct, also known in some circles as a code...
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...one of the most debated topics in recent time. Ethics is all about doing the right things while keeping intact the moral values. When it comes to business ethics few companies follow the ethics keeping social values and few don’t. Business is not only about making profit but it also about keeping and maintaining social responsibility. Some institution or organization only thinks about their profit maximization or wealth maximization. However when it comes to make profit few business doesn’t bother about the ethics. As a result the lack of business ethics in the market is the reason the world economy is presently in crisis. If an organization practice ethical behavior that creates goodwill and reputation which, expand that organization’s opportunities’ for profit. It’s a long term strategy. Here we have discussed about the ethical factors that should be practiced in business: • Investors ensuring safety of their money and timely payment of interest. • Employees provision of fair opportunities in promotions and training, good working conditions, and timely payment of salaries. • Customer complete information of the service and product should be made available. Personal information of the customers should not be used for personal gain. • Competition unscrupulous tactics and methods should be avoided while handling competitors. • Government rules and regulations regarding taxes, duties, restrictive and monopolistic trade practices, and unlawful activities...
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... Determine which moral philosophies (as discussed in chapter 6) are most applicable to an understanding of the banking industry meltdown. Explain your rationale. To suggest which moral philosophy is most applicable to this case we must have an understanding of moral philosophies. One definition given is that “Moral philosophy is the study of moral judgments or the value that is placed on decisions about what is right or wrong” (http://www.smallbusiness.chron.com). With this being said, one must understand that there is a difference between moral philosophies and business ethics. When we refer to an individual’s principles and values which help to define and determine what is considered to be moral or immoral, this is known as moral philosophy. Business ethics is usually based on decisions in groups or those made when carrying out tasks to meet business objectives (Fraedrich/Ferrell, page 151). We can use moral philosophies as guidelines or a blueprint to aid in “determing how conflicts in human interests are to be settled and for optimizing mutual benefit of people living together in groups” (Fraedrich/Ferrell, page 151). Moral philosophies also used in the business world to formulate business strategies as well as a way of resolving ethical issues. The moral philosophies used in business decisions are teleology, deontology, the relativist perspective, virtue ethics, and justice theories (Fraedrich/Ferrell, page 153). The first philosophy is teleology which derives...
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...Proposal (Draft) Submitted to: ATM Jahiruddin Professor, Business Administration Discipline Submitted by: Prodyut Golder ID: 090303 4th Year 2nd Term Business Administration Discipline Khulna University 4th November, 2013 Name of the proposed report: “Green Banking Initiative of Bangladesh bank and Compliance of the Commercial banks” (A Case study based on Khulna City) Introduction: Bangladesh is a country of enormous opportunities. After its liberation war, it has rapidly changed its economic status and in spite of so many obstacles, recently it has introduced itself as a middle income country. But now, along with other countries of the world, it is facing some problems like- global warming, excessive use of carbon-di-oxide and CFC gas, and also some other climatic change and all these are a great threat to our economy. The green banking concept is relatively new in Bangladesh and yet to get momentum. Actually green banking is nothing but the operations of the banking activities giving especial attention upon the social, ecological and environmental factors aiming at the conservation of nature and natural resources. Banks can be green through bringing changes in six main spheres of banking activities (Rahman, et al. 2013). Those are Change in Investment Management, Change in Deposit Management, Change in House Keeping, Change in the Process of Recruitment and Development of Human Capital, Corporate Social Responsibility (CSR), and Making...
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...term paper on “Unethical practice of Sonali Bank Ltd” Submission Date: 30-11-2013 Letter of Transmittal November 30, 2011 To Dr. A. R. Khan Professor Department of Banking Faculty of Business Studies University of Dhaka Subject: Submission of Term Paper on Social Responsibility & Business Ethics. Dear Sir, As instructed and part of our academic program under EMBA, I do hereby submit my report on ‘Unethical practice of Sonali Bank Ltd.’ for your kind review and necessary reference. While preparing this report, I tried my best to follow the guidelines you have given and also have gathered some practical experience. I hope that this report will meet your expectation. I have engaged our intense efforts to bring out this study report with the target of achieving perfection but we are in a little doubt how far I have attained it. It was a great pleasure for me to work on this report. I shall be glad to furnish you with any explanation, if necessary. I shall be highly obliged if you kindly accept my report. Sincerely yours, Abu Sadat Md. Salim I.D No: 51221026 21st Batch Acknowledgement It gives me much pleasure to recall with cordial reverence and deepest of gratitude the indispensable guidance, constant encouragement and unparallel stimulation that influenced untiring efforts. Sympathetic advice and invaluable suggestions of our respectable teacher...
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...Introduction Seylan Bank PLC, founded in 1987 and opened for business a year later; being one of the most admired banks in Sri Lanka and a leading innovator of banking services in the country, the fifth largest Bank in Sri Lanka and part of the mighty Ceylinco Group. The goal of the founding chairman, Dr. Lalith Kotelawela was to offer customers a more welcoming, customer friendly and service-oriented alternative to the traditional banking environment that was generally perceived to be formal, regimented and austere. The Bank quickly differentiated itself from other institutions in the market with a range of innovative services and attractive products including extended weekday banking hours as well as Saturday service, several bonus interest options and Cash-card access to non-resident foreign currency accounts that were often used by Sri Lankan expatriates to transfer funds to their dependents. Customers who had always been waiting for better interest returns for their deposits and with their trust to the public image of Dr. Kotelawela wasted no time and became customers of this newly established financial institution. Seylan soon became a well known brand in the industry with rapid growth and paying the highest interest returns to depositors. As per the company’s ‘The Case Study’ (2009) report, in its first partial year of operations, Seylan reported an after tax profit of Rs. 11.3 Million ending at 31st December 1988. Over the next 17 years, the Bank grew at an unprecedented...
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