ethical standard

ethical standard

Hello, I agree that transparency in any organization is the key to success. The financial sector is among the industries that most shareholders such as customers, suppliers and the government depend on. Business ethics will, therefore, ensure satisfaction of individuals who use these institutions thus boosting customer loyalty and trust (LRN, 2006). I concur with your argument that dominance of ethical standards will lead to an upgraded reputation of PNC Financial Services Group Inc and that the new staff employed can ensure maximization of profits through implementation of high ethical standards (LRN, 2006).

Your post was brilliant, and I like the way that you discuss the various benefits that will be achieved once PNC sets ethical standards in all its operations. However, you could have included the major setbacks that would limit the firm’s performance in case ethical standards are ignored. How will shareholders be affected? What implications will be encountered? Focussing on both sides of the coin is important. Your reasoning on how to achieve success in an organization is amazing as training is important since employees will be more open to change. Nevertheless, there would have been the inclusion of other methods that can be used by PNC to boost performance such as employee motivation and shareholder engagement. Embracing high ethical standards should, therefore, be a priority, but the main consideration should be the factors determine the success of an organization.

Reference

LRN (2006). New research reveals the business impact of ethics, signals the importance of ethical corporate cultures [Press release].

 

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