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This document discusses various unethical behaviors in the Ministry of Finance such as non-disclosure of risks, misuse of funds, bribery, insider trading, and securities fraud. It explains the consequences of these actions, which include fines, jail time, loss of reputation, falling profits, and job losses. The document also outlines internal and external factors that can positively influence ethical development, such as satisfying customers, following laws, and adapting to economic and technological changes. It asks how one could contribute to the community to promote positive work ethics.

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gracious khasandi
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21 views2 pages

123

This document discusses various unethical behaviors in the Ministry of Finance such as non-disclosure of risks, misuse of funds, bribery, insider trading, and securities fraud. It explains the consequences of these actions, which include fines, jail time, loss of reputation, falling profits, and job losses. The document also outlines internal and external factors that can positively influence ethical development, such as satisfying customers, following laws, and adapting to economic and technological changes. It asks how one could contribute to the community to promote positive work ethics.

Uploaded by

gracious khasandi
Copyright
© © All Rights Reserved
Available Formats
Download as ODT, PDF, TXT or read online on Scribd
Download as odt, pdf, or txt
Download as odt, pdf, or txt
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1.

            As a student of business ethics, discuss the various unethical behaviour being


practiced by employees within the ministry of finance? In addition, explain the
consequences of practicing such unethical behaviour in the office?
-Non disclosure
This is where there is there is non disclosure of the risks and expenses. when there are no
financial products that can guarantee performance, still at times products are mis-sold just by
emphasizing on return related assurances, quoting historical performance and not explicitly
revealing the factors that may be out of control and may pose a significant risk to the
foreseeable performance being claimed.
-misuse of funds
This is where there ismisappropriation of funds on issues that are not relevant to the finance sector
also leads loss of a lot of property or even closure of the bussiness. When it is realised it calls for
a suspension or disqualification or revocation of certificate because of the damages caused.
-Bribery
This mostly exists because the business is involved in a lot of contracts and this may result to giving
bribes to or receiving from the most appealing contracts. This results to a lot of fraudelent
behaviours just to achieve their goal. It could lead to the business receiving a notice of breach,
loss of reputation, falling profits and job losses.
-Inside trading
This is where a companys isensistive matter is use to trade in the companys securities in order for
another business to have massive market or have profits. If one is found in this job they may be
fined or jailed for a term.
-security fraud
Securities fraud is an illegal or unethical activity carried out involving securities or asset markets in
order to profit at the expense of others. This type of fraud is a serious crime usually involving
the investment world.The penalties includegiven a large fine with a jail term.
2.            What are some of the internal and external environmental issues contributing to the
positive development of ethical behaviour in the society?
INTERNAL ENVIRONMENT
• Customers. They have to besatisfied so as to allow the business to prosper therefore
the employees of the organisation have to maintain good relationships while working.
• Competitors. They make a business to adjust to their strategies which should be
according to the laws
• Market intermediaries link the business to the customers. They have to be morally
upright and avoid tracks of bribery to ensure the success of the business.
EXTERNAL
• Economical environment for example economic policies of thhe country and
economic conditions of the public also economic factors such as infrastructure,
banking and insuarance.
• Political environment affects the business through the political strength of the
country, the relationships with other countries and thinking of opposition parties
towards business units.
• Technological environment the changes that take place have to be adapted by the
business and analysed accordingly.
• Demographic environment this is population ie; the size, growth rate and the
standards of living. This influences the business unit recognize the needs and
provide the accordingly.
3.            Explain one key contribution you would initiate in the community in order to
embrace positive work ethics? 

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