ETHICS IN FINANCIAL SECTOR

THICS IN  FINANCE

Ethics in finance consists of the moral norms that apply to financial activity broadly conceived. norms reflect the conduct in financial activity that follows from fundamental ethical principles. (made in contracts)!” interferes with their ability to serve others, they are said to have a conflict of interest.

ETHICAL ISSUE IN FINANCIAL SECTOR

Transactions by financial institutions ideally rely on trust, and consistent cum non-discriminatory relationships strengthen this trust. However, intense competitions in the sector often force employees to focus on the bottom-line instead of business ethics leading to unethical transactions. Besides, evaluating employee performance based on end-results instead of the means of achieving those results also encourage unethical acts. For example, a large number of banks in Bangladesh made big profits from the share market, especially in 2010, by investing beyond their ceiling stipulated by the Bank Company Act 1991. The banks' overexposure came under severe criticism later as the Act had limited a bank's investment in the capital market to 10 per cent of its total liabilities (deposits plus borrowings). Investing the depositors' money in the capital market was quite unfair, as a more appropriate mode of investment was in the productive sector. We should remember that excessive investment in the stock market by the money market players like banks does not solidify the stock market, and a major cause of market crashes all over the world has been the excessive participation of commercial banks in merchant banking activities.

It is also very important to frame human resource policies by reflecting ethical values in financial institutions and execute a reward-cum-incentive programme for ethical acts instead of concentrating merely on legal behaviour, as legality does not always ensure adherence to ethics. One of the most effective means of flourishing ethical principles in financial institutions can be by implementing a professional code of ethics and setting rules and norms that are to be strictly followed.

As is well-known, the major challenges facing assimilation of ethical practices in the financial market of Bangladesh include lowering the non-performing loans (NPLs) in the banking sector, curbing fraud and forgery in both money and capital markets, increasing investments in productive and social sectors like agriculture, industries, small enterprises, health and education, sustainable financing activities and the achievement of cost efficiency in service delivery.

ETHICS IN HRM

ETHICAL ISSUE FACED IN HRM

ETHICS IN HRM

Human resource management focus on manpower planning and employees activities in an organisation, it is the main special branch of management and it concerns human issue mainly the compensation, industrial relation, development, and health and safety issue.

EXAMPLES OF UNETHICAL BEHAVIOR

• Lying to your spouse about how much money you spent.
• Lying to your parents about where you were for the evening.
• Stealing money from the petty cash drawer at work.
• Lying on your resume in order to get a job.
• Talking about a friend behind his back.
• Taking credit for work you did not do. 

McDonald's Discrimination case on WORKING CONDITION AND HUMAN RIGHTS

The Guardian published an article titled 'You want fries with your poverty wages and exploited McDonald's workers?', which was based off of the fact of McDonalds treating their employees in illegal and criminal manner.  In New York City, november 2012, approximately 200 fastwood workers belonging to the McDonalds industry, went on strike to demand hourly wages of 15 dollars and the right to form a union. This protest arose strikes, organizers and protests in 150 US cities, and at least 33 countries. 

In Brazil, the Food and Hospitality Workers Union (Sinthoresp) has been battling McDonald's over issues including wage theft, poverty-level pay and mistreatment of pregnant workers. Demonstrations were planned for Thursday at McDonald's in five Brazilian states. Fast-food workers in Japan will protest at 30 McDonald's locations in 30 prefectures, calling for an hourly wage of ¥1,500 – about the equivalent of the US $15 per hour. In South Korea, a protest wasplanned in front of a major Seoul McDonald's.

South Korean labor leader Cheong Ok-soon explained the action to the Local Press: "Everywhere you go in the world, fast-food workers are suffering with low wages, long hours and unstable employment. They can't live a normal life under the working conditions they face now, so they have no option but to fight in solidarity." This shows that McDonalds is underpaying and abusing their workers on an international basis. 

Based off of these situations, it appears that McDonald's lacks ethical aspects by abusing the right's of their employee's and co-workers in various countries; particularly less-developed and third world or second world countries. They appear to give poor working hours; therefore decreasing their employees health rates significantly, as well as underpaying them; leaving the company wealthy, but leaving their employees on a low-wage

                                                 Infosys and innovation

Strategic partnership aims to reimagine the tennis experience for fans and players globally

Infosys and Roland-Garros announced  strategic three year technology partnership. The collaboration is aimed at enriching the game by providing fans, players and coaches with a completely new experience, leveraging Infosys experience in digital technologies such as artificial intelligence, big data & analytics, mobility, virtual and augmented reality.

Bernard Giudicelli, President of the French Tennis federation, said

"we are truly delighted that Infosys has joined us as a partner of Roland-Garros. This partnership centres around digital innovation, a key pillar of the tournament , and will offer tennis fans an even richer experience . we are convinced that infosys will helps us deliver the tournament's digital transformation objectives to ensure Roland-Garros remains at the cutting edge of technology."

Pravin Rao, Chief Operating Officer, Infosys,said

"Rolland-Garros stands for its rich history and culture and today, Infosys is proud to become a part of this heritage. we're exited to partner with Rolland-Garros to showcase how digital technologies can enhance the boundaries of this tournament by leveraging data, insight and digital experiences. We are committedto helpin Rolland-Garros further expand its global following in the physical and the virtual world powered by digital innovation where fans and players alike can experience game-changing innovations."

As part of this partnership, Infosys and Rolland-Garros will work on several new digitally enabled experiences. These include:

Re-imagined fan experience powered by data and analytics

Empowering players and coaches with the power of AI

Rolland-Garros Fan Engagement amplified with VR & AR

About Roland-Garros

In the eyes of sports fans, and indeed the general public, the Roland-Garros tournament is an unmissable event that enjoys immense prestige. In 2018 Roland-Garros set new record with more than 480000 spectators attending the tournament and was broadcast in 224 countries worldwide, confirming the tournament's status as a premium, truly global sporting event. Organized by the French Tennis Federation, Roland-Garros is the only grand slam tiurnament to be played on clay, one of the oldest and most noble surface in the history of tennis.

About Infosys

Infosys is a global leader in next generation digital service and consulting. We enable client in 45 countries to nevigate their digital transformation. with over three decades of experience in managing the system and workings of global enterpise, we expertly steer our clients through their digital journey. we do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise and ideas from our innovation ecosystem.