Case Study-"Confidential Accounts at Swiss Bank Corporation"

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  • Topic: Bank, Banking in Switzerland, Offshore bank
  • Pages : 4 (1247 words )
  • Download(s) : 2069
  • Published : November 11, 2007
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Ethical principles are essential for the proper and fair conduct of business around the world. In principal, ethical principles can and should dominate any and all decision making, regardless if it occurs during a business transaction. Without ethics, it would be impossible to conduct business and establish the trust necessary between consumers and business entities. Of the many ethical principles that exist, several exist that relate to business ethics. Egoism is defined as the ethical belief that self-interest is the just and proper motive for all human conduct (www.dictionary.com). Egoism is essential in the banking industry because an individual in their right mind will not use nor trust a bank if the bank is going to lose or misuse their money. Cultural Relativism is defined as the principle that an individual human's beliefs and activities should be interpreted in terms of his or her own culture (www.wikipedia.com). Still more ethical principles that guide business making decisions include Utilitarianism, which is defined as the ethical theory proposed by Jeremy Bentham and James Mill that all action should be directed toward achieving the greatest happiness for the greatest number of people (www.dictionary.com). Rights, the foundation of the U.S. constitution and the happiness of free people around the world, are defined as anything that is in accordance with what is good, proper, or just (www.dictionary.com). Without the protection of all individual's rights, the world cannot exist in its current state, and the conduct of business would be impossible. Lastly, Justice is defined as the quality of being just; righteousness, equitableness, or moral rightness (www.dictionary.com). Without justice, it is impossible to protect individuals' rights and ensure their safety and well-being. Throughout the "Confidential Accounts at Swiss Bank Corporation" case study, without a doubt, the key decision-maker in the report is Alan Adler, the very capable and renowned...
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