Ethical Issues in Westpac Assignment

Running head: ETHICAL ISSUES IN WESTPAC
ETHICAL ISSUES IN WESTPAC
Name of the Student
Name of the University
Author note

1ETHICAL ISSUES IN WESTPAC
Executive summary
Ethics are the most important thing that any organization needs to follow and maintain. The
basic ethical behavior is expected from every individual those are working in any particular
organization. The following case gives a brief introduction about how the organization faces
ethical issues and find ways for solving the same. It also discusses about the challenges faced
by the organization in developing ethical theories and then implementing them.

2ETHICAL ISSUES IN WESTPAC
Table of Contents
Introduction................................................................................................................................3
ETHICAL ISSUES:...................................................................................................................3
ETHICAL THEORIES:.............................................................................................................5
THEORY OF UTILITARIANISM:.......................................................................................5
THEORY OF VIRTUE:.........................................................................................................5
RECOMMENDATIONS:..........................................................................................................6
CONCLUSION..........................................................................................................................8
REFERENCES.........................................................................................................................10

3ETHICAL ISSUES IN WESTPAC
Introduction
The early and original name of Westpac is Westpac banking corporation which was
founded in the year 1817 apparently 200 years ago from now. This bank is very well known
for providing many services that includes financial and banking services. There are other
services which this bank also operates in they are also into services like investment banking,
corporate banking, credit card services, mortgages and also the consumer banking is
included. Westpac bank has its headquarter in Westpac place, Sydney and they are at present
operating worldwide across the globe(Westpac, 2020). There have been controversies
associated with the bank and many cases have been observed which has led to the
degradation of the brand value and brand image of the bank. Cases of money laundering and
exploitation of child was observed and the bank was found guilty when the cases were
presented to the regulators of Australia(Westpac, 2020).
This report insight about the cases related to the bank and the ethical issues faced by
the bank and the ways of solving it through several ethical theories and providing
recommendations based on the issues and the theories of ethics.
ETHICAL ISSUES:
The conflict between the decision making and the moral principles of both, the society
as well as the organization can be defined as ethical issues. There are certain principles of
ethics which all the organization be it small, medium or large needs to follow as these are the
standards set by any organization operating on a market. It is very important that there is
confidentiality as well as transparency within the work that comes from top to bottom of the
hierarchy and basic autonomy must be maintained in order to have better stability and
functioning of the organization.