This essay analyzes the ethical issues raised by the National Australia Bank (NAB) fee-for-no-service scandal. The essay summarizes the Financial Review article by James Eyers, which highlights NAB's misconduct of charging fees to customers without providing any services. The essay identifies the violation of corporate governance, corporate social responsibility, and ethical leadership principles. It examines the legal and ethical implications, including potential violations of the Corporations Act 2001 (Cth). The essay evaluates the ethical decisions made, or not made, in this scenario using utilitarianism and deontology ethical philosophies. Finally, the essay outlines an ethical decision-making process that emphasizes stricter corporate social responsibility, increased accountability, and appropriate penalties for those involved in unethical practices, to prevent similar issues in the future and protect customer interests. The essay concludes that the ethical decision involves implementing a strict CSR structure in NAB to increase accountability of its directors and punishing those who violated their duties.
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