Task 1
Introduction
The State Bank of India, popularly known as SBI, is one of the leading banks in India. The bank traces its origin to the first decade of the 19th century. Later on, it was merged with the Imperial Bank. In the year 1955, the Government of India nationalized the Imperial Bank along with the Reserve Bank of India. Ever since that time, the bank acquired its present name that is SBI.
Existing CSR of SBI:
State Bank of India is committed to: • Enhancing stakeholder’s value though value-driven engagement.
• Economic and social well-being of the society, particularly the less fortunate and under-privileged members of the society.
• Minimize the direct and indirect impact of its operations on the environment.
In order to further guide our Sustainability Development journey, the individual elements of the policy are grouped into three key pillars – Social Responsibility, Environmental Responsibility and Economic Responsibility. The policy and its elements are applicable to all Departments / Verticals / Business Groups of State Bank of India.
1. Social Responsibility
• Adhere to highest standards of honest and ethical conduct, including proper and ethical procedures in dealing with actual or apparent conflicts of interest between personal and professional relationships. The Bank does not tolerate any
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iv) Adoption of the Girl Child v) Women’s empowerment vi) Child development vii) Welfare and rehabilitation of poor and handicapped viii) Assistance to poor and under privileged ix) Entrepreneur development programmes x) Vocational guidance xi) Thrust for assistance to IT education in Rural /Tribal / unreached areas xii) Environment protection, xiii) Adoption, maintenance , restoration of historic / heritage monuments / buildings including activities such as audio visual and son et lumiere shows xiv) Assistance during natural calamities like floods/droughts
Wheelen, T. L., & Hunger, J. D. (2010). In Concepts in Strategic Management and Business Policy Achieving Sustainability, Twelfth Edition. Pearson Education.
This organization has been setting ethical standards and publishing the Code of Professional Conduct for the profession since the early 1900s. A Code of Professional Conduct is necessary for any profession to help maintain strict ethical standards. This organization is the basis of ethical reasoning in the accounting profession because of what the Code of Professional Conduct covers. The code is comprised of a preamble and six articles. The preamble and the six articles serve as a foundation to provide guidance and guidelines for accountants to overcome any emerging ethical issues with ease on a daily basis. The six articles’ purpose is to protect the public, investors, and creditors. The AICPA Code of Professional Conduct consists of: Responsibility, Public Interest, Integrity, Objectivity and Independence, Due Care, and Scope and Nature of
A conflict of interest may be described also as a conflict of duties or a conflict between interests or as a conflict between interest and duty. To act when they have a conflict of interest involves breaching their fiduciary duty to their client or former client. This is the basis of the conflict of interest problem and is stressed in many of the cases dealing with conflict of interest. There are four element of the fiduciary duty, duty of confidentiality, duty not to put their own or other people’s interests before their own client, duty not to misuse client’s money, and competent standard of
Brooks, L., Dunn, P. (2012) Business & Professional Ethics for Directors, Executives & Accountants. 6th Edition. Thompson South-West.
Brooks, Leonard J. Business & Professional Ethics for Directors, Executives, & Accountants. Mason: Thompson South-Western, 2004. p227.
This concern of integrity and organizations like Wells Fargo to do what is right stems from our personal ethical framework. We all have one which helps us decide what is right and what is wrong. It is this decision that is a concern for organizations that must be managed on a day to day basis. Company’s such as Wells Fargo are so big that bad ethical behavior may be overlooked and not dealt with until the damage has already been done. Other organizations need to learn from Wells Fargo and start addressing their own organization ethical framework. This would include the organizational culture, business strategies, employee ethics concerns and the overall ethics and decision-making
fundamental issues of how a society works and maintains itself. The goals behind the two works,
When working within any professional body, an individual will be subjected to circumstances in which personal ethics will come into play. The Accounting profession is no different as ethical questions arise as part of any working day and can effect how an individual or the company conducts business. These questions can vary greatly in practice from selection of new customers to the rates at which those clients are going to be charged. These ethical questions are raised regularly within the workplace and each employee will react to them differently. The varying reactions will depend on the morality of each individual, or each employees own ‘ethics’. As each employee has their own set of values companies must be alert to the fact that some of their employees may have more ‘flexible’ morals than others. This ‘flexible’ morality can lead to corruption and manipulation within the workplace and can give companies serious problems. As a result of this, all of the main professional accounting bodies have begun to re-introduce mandatory courses teaching ethics to their employees. As well as this, ‘A Guide to professional ethics’ was published which contains a number of different principles in order to govern the behaviour of accountants and also to identify and reduce the greatest areas of risk with respect to unethical behaviour.
Sustainability is a concept with a diverse array of meanings and definitions – a widely used glamorous, ambiguous, ambivalent and vague concept that is used by different stakeholder groups in various ways. Presumably to avoid noodling over a terminology or to avoid the confrontation with a definition, most widely the concept is broken down a planning process (c.f. e.g. Döring & Muraca, 2010). That is why most common sustainability is understood as sustainable development.1
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goals and good of the city. Once the individual and the other individuals in the society or
With Jacob’s financial pressure, his integrity is shaken because he wants to use the money to pay off the bills and Jacob did not mention it to Krystal. Jacob needs to put his personal matter aside and communicate his medical situation and the bonus money to Krystal. By doing so, Jacob will maintain his honesty and not let his personal interest be in the way resulting trust within the workplace will be maintained. Additionally, the bonus money can be fairly divided between the two. Employees have the responsibility to follow and maintain business ethics and the code of ethics in the workplace. Employees have to be honest, communicate at all levels of the organization, deal issues at the lowest possible level, and avoid conflict of interest that would lead to unethical decisions. Also, employees should be educated with the policy and regulations set by the company in order to maintain ethical practices in the workplace. Jacob and employees in general are bombarded by ethical issues and by abiding by their roles and responsibilities will guide them in making an ethical decision. The following five-step model can help employees make appropriate decisions when faced with an ethical dilemma. First step is to recognize the issue. Knowing what is the root cause and the main
There are the rich and poor in the society, and it somehow creates positive and negative cycles. That is, the rich can get better education and have good opportunities to succeed in the society.
Lack of access to goods and services, and acceptable levels of education and health care
In conclusion, sometimes actions take place that changes a person’s outlook on life and as you can see poverty is one that can have a huge effect on not only one person, but also the people around him/ her.