This essay delves into the critical intersection of business ethics and social responsibility, using the Australian banking fraud as a central case study. It explores the ethical breaches within the financial sector, highlighting the systematic exploitation of customers and the lack of transparency. The essay examines stakeholder roles, corporate governance failures, and the implications of unethical practices on both a social and legal level. It discusses various moral philosophies, including teleology, utilitarianism, and procedural justice, to analyze the decision-making processes within the banking industry. The author emphasizes the importance of trust, honest conduct, and cooperation in fostering a healthy business environment, while also advocating for the practice of virtue ethics and social responsibility to ensure accountability and ethical conduct. The essay concludes by reinforcing the need for organizations to integrate ethical policymaking into their business strategies, even while pursuing profits.
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