Monday, January 6, 2020

MN7181 - People & Organization - importance of ethics in Banking Business


Image result for Ethics

Resource : V- comply editorial , ( 2014 ) 

Regulations & Ethics , the two controversial words which has led to forming and continuation of  development & key secured point to man kind is obvious .Ethics are been seen in each & every field & it has been eveloved to keep the culture of any development .Further This blog  illustrates on few business ethics &   discuss of the effects & situational analysis  of fundamentals to banking business & impact on  Banking Sales Culture .  




Source : tutor2U , ( 2015) 


Definitions of 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 law often guides business ethics, but at other times business ethics provide a basic guideline that businesses can choose to follow to gain public approval. ( investopedia , 2015 ) 
  • Business ethics is a topic receiving much attention in the literature. However, the term ‘business ethics’ is not adequately defined. Typical definitions refer to the rightness or wrongness of behavior, but not everyone agrees on what is morally right or wrong, good or bad, ethical or unethical. To complicate the problem, nearly all available definitions exist at highly abstract levels. Lewis P V , (1985)
  • is the application of ethical values ( fairness , honesty , openness and integrity ) to the business behavior .it applies to all aspects of business conduct (inc.employement practices ) but also the discretionary actions that organizations and employees make on daily basis in practice . CIPD , (2013 ) 



A model of business ethics 
  

In consideration of above all to banking business ethics , values are been kept as primary effective option .Trust & Integrity could be seen as the greatest impact on forming of banking business.If we consider early beginnings , Autocrats used to keep their valuables insider Banks ' safety lockers .All important Files were kept and bankers were Charged certain amount of commission to keeping their Valuables safety .Bankers were recognized as pillars of Utmost Trust .
Implementation & continuation of practices such as  Oath of Secrecy could be a living example Those who joins to banks are used to sign this oath o secrecy and any  deviation or violation would be punished with heavy disciplinary actions .

Bankers are taught to be conduct excellent customer service with out any discrimination and this has been another pillar of client attraction and could be a reflective of bottom Line .Further bank culture is fully designed with keeping client ethics.This has been implemented with banks communication policy to safe guard Client respect & importance for banking business .

Banks are more focused into fee and commission base income since this would be a clear hot to bottom line.& focus more into trade related activities ,  all trade related activities are based on situational impact and information circulation on best buying and best selling opportunities .useally Traders ( Business People , ) communicate these information s' to their banker to mitigate any loss or dis advantage as a course of action  Eg : Forward booking in banking Treasury .    

It could be seen that banking business is much governed with Ethics than regulations .All regulations are been imposed to show case the borderline of business  ethics and practicing o ethics would be the back bone of banking business continuation .




Reference 


  • V Comply - editorial, (2014), Ethics in business world [ONLINE]. Available at: https://blog.v-comply.com/ethics-in-the-business-world/ [Accessed 6 January 2020]
  • tutor2U. (2020). Topic briefing - Business ethics. [Online Video]. 27 May 2015. Available from: https://www.youtube.com/watch?v=EK1ak9lXLo8. [Accessed: 6 January 2020].
  • investopedia. 2015. Business Ethics. [ONLINE] Available at: https://www.investopedia.com/terms/b/business-ethics.asp. [Accessed 6 January 2020].
  • Lewis, P.V., 1985. Defining ‘business ethics’: Like nailing jello to a wall. Journal of Business ethics4(5), pp.377-383.
  • huczynski, A and Buchanan , D 2013.organizational behaviour : An introductory text. Financial Times/prentice Hall.Chp2
  • Svensson and Wood, (2008), The ethical Business module [ONLINE]. Available at: https://www.researchgate.net/figure/A-model-of-business-ethics_fig2_46545845 [Accessed 6 January 2020].

MN7181 - People & Organization - Develop Capacities as Knowledge workers in Banking Sector ( effects of Globalization )


Image result for globalization


Globalization , the term that have effected to change many definitions and interpretation of current situation .Globalization trends could be seen to each & every segment of existence & its is obvious that any field which is not make direct or in direct contract with the term is no longer could find its survival in current context . 


Many Visionaries and researchers have predicted that knowledge would be much useful than mechanical or physical force more than 50 years ago .Current trend have witnessed that the higher contribution for impact or correlation effect on overall goal achievement would be knowledge more than any era .
Industries have flourished after Industrial revolution of 19th Century  and many businesses were evaluated with its effects .Banking has ever been a crucial factor with emerging transnational purposes , Offering Credit for local & overseas , Interference for import & export business .This blog will be discussed on Impact of transformation of banking employee perspectives towards knowledge as effect of Globalization .  




Resource : Audiopedia.com ( 2016 ) 


Definition of Knowledge Worker , 


  • Workers population whose base their professional activity on the knowledge . igi -golbal.com , ( 2017 ) 
  • knowledge worker is anyone who works for a living at the tasks of developing or using knowledge. For example, a knowledge worker might be someone who works at any of the tasks of planning, acquiring, searching, analysing, organising, storing, programming, distributing, marketing, or otherwise contributing to the transformation and commerce of information and those (often the same people) who work at using the knowledge so produced.  Drucker P F ,  ( 2011 ) 
  • Individuals who routinely identify, process, share, and apply new information and knowledge as a part of their daily work .Druker P .F , ( 2017 
Image result for graph of effects of knowledge worker

Resource : artandtechnology.com ( 2016 ) 

Reflection 


HSBC , Citi Bank , Standered Charted Bank , Overseas Bank of India , Deutch Bank , ICIC Bank are few Examples of few cross national Banks or rather Multi national Banks which are established in SL .These banks have established here in due to few purposes more than bottom line impact ( Profit ) .As effect of Globalization , establishment of multi National corporations have high in lsland & those giants are having corporate relationship with these Banks as their agents of moving funds & been the secure media of all electronic transactions .As a result many locals have received  opportunity to serve in these Banks as Knoweldge Workers.Thier main task would be adopting Data 's to information on understanding KYC Process , Linking with opening of LC to  CUSDEC Clearance of of Clearing shipped Goods .


Image result for knowledge worker photo

Source : Thepostiveencourager , ( 2016 ) 


As per observations special trade related activities of banking field required much usage of globalization effects as its cope up with international transactions .
CBSL ( Central bank of Sri Lanka has thus stress the importance of controling electroni Funds Transfer where a one major effect which has totally changed the banking concepts .Further this has opned many electronic platforms to open up the Virtual banks where you meet customer only through Laptop screen & Customers would not have to stepped to Banks physically to perform any transactions.One such major improvement was Easy Cash launched by Dialog recently & it was seen that they operates the on line cash flow bigger than some of the early banks who have island wide networks .



References : 

  • igi-global.com. 2017. Relations between knowledge. [ONLINE] Available at: https://www.igi-global.com/relations-between-knowledge-acquisition-forms/16493. [Accessed 6 January 2020].
  • Drucker, P.F., 2011. Landmarks of tomorrow: A report on the new. Transaction Publishers.
  • http://www.theaudiopedia.com. (2016). what is Knowledge Worker ?. [Online Video]. 6 January 2020. Available from: https://www.youtube.com/watch?v=7AU2rnJ6LrI. [Accessed: 6 January 2020].
  • thepositiveencourager, (2016), knowing-how-to-manage-knowledge-workers/ [ONLINE]. Available at: https://www.thepositiveencourager.global/k-is-for-knowing-how-to-manage-knowledge-workers/ [Accessed 6 January 2020].
  • dunning-cruger effect, (2016), graph of effects of knowledge [ONLINE]. Available at: google.com/search?q=graph+of+effects+of+knowledge+worker&rlz=1C1EXJR_enLK882LK882&sxsrf=ACYBGNTR28YSvECnQjoUogyYZU_oig_njw:1578333098334&tbm=isch&source=iu&ictx=1&fir=ljYDHbRFpyCHTM%253A%252CWExzz4rE5y5HaM%252C_&vet=1&usg=AI4_-kQbZnkS3NctRC65tKgkTqxb6XBFhw&sa=X&ved=2ahUKEwjVi6f9xO_mAhWMbn0KHXECDDcQ9QEwAnoECAYQDA#imgrc=aVm7fP-HV2Z7xM:&vet=1 [Accessed 6 January 2020]

  





Sunday, January 5, 2020

MN 7181 - People & Organization - Culture - As a back bone of Continuation of a banking Sales Unit


Organizational Culture in word collage

Organizational Culture or rather an Artifact ( Visible product of the group )  of bigger term Culture , has been exposed to many research reviews and findings .Public perception on culture may reflect and address  only the surface or might be not more than an observational  description of  surface of a Lilly pond .But true values , norms and behaviors could be dig only by peeling off this onion with careful attention to all its blocks .Long term understanding , Simulation success or virtual realities, early life long learning through success and failure  are true root  course of all behind the term Organizational culture .
This blog peeps into in depth understanding of the Culture and relates perspectives with banking sales culture evaluation .

Definitions of culture 

Cultural definitions have been defined with different perspectives based on scopes and environments  such as , 

  • Values , Patterns & norms approach 
  • Religious , Ethnic , Organizational approach 

Definitions of Culture 



  • According to hofsted G , ( 1984 ) National cultural patterns are highly effected to Quality of Life of people
  •  ‘Culture ... is that complex whole which includes knowledge, belief, art, morals, law, custom, and any other capabilities and habits acquired by man as a member of society. Avruch , (1998)
  • culture systems may, on the one hand, be considered as products of action, on the other, as conditional elements of future action.’Jahoda, G., 2012. Critical reflections on some recent definitions of “culture”. culture & psychology18(3), pp.289-303.: 181
  •  Adler ,  ( 1997 ) , Culture consists of the derivatives of experience, more or less organized, learned or created by the individuals of a population, including those images or encodements and their interpretations (meanings) transmitted from past generations, from contemporaries, or formed by individuals themselves.’
  •  Hofstede G ,  ( 1994) the set of attitudes, values, beliefs, and behaviors shared by a group of people, but different for each individual, communicated from one generation to the next.
  • By culture I mean the shared beliefs top managers have about how they should manage themselves and other employees , and how they should conduct business  ( Lorsch, 1986 :95 )  







Resource : Tim Kuppler. (2020). What is culture. [Online Video]. 3 March 2014. Available from: https://www.youtube.com/watch?v=zR9giyTu4pI. [Accessed: 5 January 2020

Situational picture & Reflection 


Banking sales units have been establishing and evaluating since early 2000 with the intention of aggressive canvassing of Retail clients for  structured Retail products such as Credit Cards / Consumer Loans & Housing loans .Central Sales Units were basically established ( Colombo & suburbs areas )  As Teams members  of 10- 15 members .
A Sales Team comprised with Team Leader & Assistant Team Leader & few Senior Hands.
High employee turn over has been witnessed in this module & it was introduced strong cultural aspects  to these modules in order to keep the employee with the Bank & keep on aggressive canvassing the Clients to structured portfolios .


10-20-14-ignite.png



  • According to Avuruch J ( 1998 ) , introducing of knowledge to new Comers , customs that should be practiced from seniors & juniors were laid down .These Values have been the back bone of the continuation of such sales modules .
  • Seniors were gather at every evening to share their experiences among new comers to boost  moral and to avoid possible difficult situations .
  • Further Top Managers & middle managers have founded main key points which has  laid down with the support of  certain ethics  at team Management .
  • Currently , These Team Management Concepts are been passed to each & every member who promoted to middle Management such as Sub Team Leader & Team Leader 


Reference


  • Tim Kuppler. (2020). What is culture. [Online Video]. 3 March 2014. Available from: https://www.youtube.com/watch?v=zR9giyTu4pI. [Accessed: 5 January 2020].
  • Hofstede, G., 1984. The cultural relativity of the quality of life concept. Academy of Management review9(3), pp.389-398.
  • Hara, K., Yonezawa, K., Weng, Q.P., Kozlowski, M.T., Belham, C. and Avruch, J., 1998.
  • Jahoda, G., 2012. Critical reflections on some recent definitions of “culture”. culture & psychology18(3), pp.289-303.
  • Kirkman, B.L. and Shapiro, D.L., 1997. The impact of cultural values on employee resistance to teams: Toward a model of globalized self-managing work team effectiveness. Academy of Management Review22(3), pp.730-757.
  • Hofstede, G., 1994. Management scientists are human. Management science40(1), pp.4-13.
  • Lorsch, J.W., 1986. Managing Culture: The Invisible Barrier to Strategic Change. California Management Review28(2).

MN7181 - People & Organization - importance of ethics in Banking Business

Resource : V- comply editorial , ( 2014 )  Regulations & Ethics , the two controversial words which has led to forming and con...