Evaluation of a Business Code of Ethics Research Paper - 4

Evaluation of a Business Code of Ethics - Research Paper ExampleThe buzzwording company is engaged in commercial banking and related services, as defined in the Banking companies ordinance 1962, operating by dint of various branches in Pakistan, Bahrain, Bangladesh & Afghanistan, with the registered office at B.A Building, I.I. Chundrigar, Karachi.To develop & deliver the most innovative products, manage guest experience, deliver quality services that contributes to brand strength, establishes a competitive advantage and enhances profitability, indeed providing value to the stakeholders of the bank.There are various opinions on ethics because it is not a constricted subject and and so there are various theories. Although n 1 of these shadow be regarded as incorrect but all(prenominal) one has its merits and demerits (Collins, 2009, 120). Below are examples of commonly used ethical systemsRelative Value Theory accepts the assume for evolution of moral codes. This theory gives room for different cultures, races, religions and sects by realizing that any particular act can be regarded as ethical in one society whereas the same act can be considered as immoral in another.Absolute Value Theory in contrast believes in one set of moral rules that stay consistent in every situation. Since this concept is very rigid thus is mostly applied on international truths e.g. murder by one person of another waistband unacceptable irrespective of any society, religion or sect.Deontological Approach (non-consequentialist) suggests that any action will be judged as right or wrong on the basis of the moral behind the action. Thus the yield or consequence of the action bears little importance.Teleological Approach (consequentialist) pays heed on the results of the actions rather than the motif for the action. Thus two different opinions can be formed that whether the action is beneficial for oneself (egoist) or if it is good for the society (utilitarian).If we look at th e code of ethics of Bank Alfalah Limited it is visible that they are ground on