In an article by Anne Federwisch on the Ethical Issues in the Financial Services Industry, she refers to the research of Ronald F.Duska and James Mitchell. It seems that these 5 issues can be the same issues in any number of industries.
Here they are:
1.Self-interest sometimes morphs into greed and selfishness.
2.Some people suffer from stunted moral development.
3. Some people equate moral behavior with legal behavior.
4. Professional duty can conflict with company demands.
5. Individual responsibility can wither under the demands of the client.
What is interesting to me is that the concept of “moral” was mentioned twice,i.e. “stunted moral development” and “moral behavior.” Yet all five issues have a “moral basis, right? If so,who,in one’s organization is qualified to teach/train people in moral development and how to act morally? Further thinking on this led to consider these other issues as well.
Are these issues also issues in your industry,your organization or company?
Or how about these additional issues. Are they of concern as well?
1. Always act in the best interest of clients.
2. Looking beyond the question of what is legal to what is ethical?
3. Do the right thing, at the right time for the right reason.
4. When in doubt, don’t.
Quite a lot to think about eh? Yet like in so may other instances, we all can be made aware of these things, yet what is done about them? Who really could disagree with the research of Duska and Mitchell and yet are these issues being taken seriously enough to be included in any substantive training,i.e. new hires, risk management, leadership development, compliance, etc..?