Business Ethics Report: Evaluating Triodos Bank's Ethical Standards

This report provides an in-depth analysis of Triodos Bank N.V. as an exemplar of ethical banking, focusing on its commitment to cultural values and environmental benefits. It identifies key ethical principles such as transparency, integrity, trustworthiness, loyalty, and fairness that guide the bank's operations. The report explores the ethical philosophies employed by Triodos Bank, including normative and descriptive ethical theories, with an emphasis on stakeholder theory, examining the roles of employees, manufacturers, and suppliers. It also details the responsibilities of the senior management team in maintaining business standards through training, control, strategic management, and objective achievement, as well as the role of employees in achieving goals and fostering a positive work environment. The conclusion emphasizes the importance of business ethics in managerial operations and stakeholder engagement, referencing academic sources to support the analysis.

Business Ethics

Table of content
 Introduction
 Identify a company that is considered ethical and the reason why it is considered ethical?
 What ethical philosophy do they follow and why?
 What is the role of the senior management team to maintain the business standards of the company?
 What is the role of employees to maintain the business standards of the company?
 Conclusion
 Reference

Introduction
Business ethics is termed as the study of several plan of action and activity of management in respect to
determine effective aspects like ethical philosophy, corporate governance, inside trading, bribery and corporate
social responsibility. Business ethics offers the road map that are utilised by the management in respect to
increase public support.

Identify a company that is considered ethical and the
reason why it is considered ethical?
Triodos Bank N.V. is an ethical bank that perform its function and
operations in the field of cultural value with the benefits of both
individual and the environment.
 Transparency – It will include an appropriate manner of
presenting sections in a transparent manner by telling truth and
interacting clearly and widely about their operations and
functions.
 Integrity – By constantly stick to a decision that are basically
taken when pressured it to perform and present honour and
courageousness.

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 Trustworthiness – The business of management will hold their promises and trust with their customer in
order to fulfil their demands and will satisfy them as effectively.
 Loyalty – It will encompasses all the dealings of the management that will involves all such sort of
members like staff members, partners, investors and customer as effectively.
 Fairness – The business of management of Triodos Bank will present their manner and will act fairly
and dedicate for practising their strength as effectively.

What ethical philosophy do they follow and why?
Business ethical theories
 Normative ethical theory – Normative ethics are linked with several
ethical activities. This theory will involve several measured sections
in the suitable manner that how individual will act in particular
condition in an effective way. Generally it is related with the various
aspects by which the business deals with various right and wrong
probability. In this ethics several tools that will cover are like
teleological and deontological theories.
 Descriptive ethical theory – Descriptive ethics will also termed as the
adjective ethics that are linked with the manner to determine the
suitable orientation or standard view of individuals about several
moral beliefs and standard.

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Stakeholder Theory
As there are various stakeholders who are exist in the organisational
environment who will have an impact on the managerial operations in
several ways.
 Employees – They are termed as the major stakeholder in the
business of management. They evaluate to be remunerated
equally and perform their work in a secure environment.
 Manufacturers or suppliers – In the stakeholder theory,
manufacturers, businessperson, and other marketers who are the
workers of the business will termed as stakeholders.

What is the role of the senior management team to
maintain the business standards of the company?
In the era of stiff competition between different financial
institutions it is compulsory for Triodos Bank to develop a
professional management team.
 Training and development - It is compulsory for the
management of an organisation to focus on training and
development of different employees for business
development.
 Control and supervision - Control and supervision is
performed by senior management in order to manage
subordinate employees and their activities.

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 Strategic management - It is compulsory for senior management to develop a precise business strategy that is useful in
business growth and development. Senior management acts as a major force which is helpful in formulation of different
goals and objectives and achieve them with the help of precise strategy.
 Achievement of objectives - The senior management not only frames objectives but also helps the whole management
to achieve organisational goals. Senior management which is present at Triodos bank put tremendous efforts which are
effective in achievement of goals.

What is the role of employees to maintain the
business standards of the company?
 Successful Employees Achieve Goals – As there are various
essential components in individual performance is to accomplish
the targets. Effective employees meet deadlines, satisfy their
managers and executives and will create sales and create an
effective brand goodwill by positive consumer inter-relationship.
 Create a Positive Work Environment – By creating the positive
work environment it will be easy for the business of management
to maintained their dealings as effectively and efficiently.

Conclusion
As per to the above mentioned report it has been concluded that, business ethics will play an
essential role in respect to conduct all managerial operations in an effective way. As there are
several sections in which stakeholder are present in the surroundings of the business that will
have an impact on the managerial actions that have particular orientation field for the business
of management.

Reference
 Phillips, P. and Moutinho, L., 2018. Business ethics. In Contemporary Issues in Strategic
Management (pp. 178-194). Routledge.
 Probst, D. T. and Kasztelnik, K., 2020. The Observational Research Study with the Trends
in Healthcare Training and Leadership Ethics in The United States.
 Puen, S.A.Y., 2019. Addressing the Anthropology of Business Ethics: Insights from
Catholic Social Thought. Journal of Religion and Business Ethics, 4(1), p.8.
 Rendtorff, J.D., 2018, May. Business Ethics as a Method of Philosophical Inquiry in
Business and Economic Life. In Proceedings of the XXIII World Congress of Philosophy
(Vol. 5, pp. 71-75).