Ethical Banking And Customer Satisfaction : A Comparison Between Bankmecu And Commonwealth Bank Of Australia

In the modern day global economy characterized by free trade, the government has limited power when it comes to influencing how consumers view an industry or even discriminate against certain products (Findlay & Warren, 2013). Nonetheless, the purpose of this paper is to explore if it’s ethical for the public, or rather the consumers to view all industries differently. Also, as an advocate for the consumers, I will provide arguments concerning the reasons as to why I do not believe that some industries are unfairly targeted, such as in the case with the fast food industry. The paper will also reconnoiter the ins and outs of why consumers should partake in choosing

Also, there is such a thing called supply and demand, and the consumer chooses what is needed or wanted. This article also signified the evolution of the English economy of moving away of mercantilism capitalism. Both the articles had a significant impact on the societies of each state.

Beginning in the 1980s, political leaders believed that markets were bad for the economy. Although in the 1990s, there was a faith that presented a need for the markets and that they are the main help for the public. As of now, that faith is being challenged. The financial crisis evoked awareness that markets and morals have separated. It has become our job, as consumers, to find a way to rejoin them without any way of knowing how to.

I once thought that it was a good thing that you could buy and sell just about anything, but after reading “What isn’t for Sale” by Michael Sandel, I have slightly changed my mind. In the article, he explains how the thriving market economy has started to creep into daily aspects of life, and into places it shouldn’t be, “It was the reach of markets, and of market values, into spheres of life traditionally governed by nonmarket norms” (Sandel 392). We live in a time where you can buy anything from a good education all the way to a private military. Sandel writes that this type of society is bad, but I believe that there are advantages and disadvantages to this type of society.

“Studies analysing the bottom-line value of CSR have demonstrated that it adds substantial economic and social returns to businesses when it is carefully thought out, executed, and periodically evaluated as part of a holistic institutional policy” (Deegan, 2002; Hummels and Timme, 2004). The bank should also invest in social responsible activities to differentiate it, which can help in emphasizing Jyske’s values and differences and encouraging ethical behaviour amongst its stakeholders. These activities might seem subtle, but they have proven to be forceful signals that improve the brand image and communicate goodwill to customers. They also influence perceptions of the service quality and affects loyalty

Through its exquisite examples, and compelling tone, Michael Sandel's article "What Isn't for Sale" advises that we need to recognize that our markets are taking over our personal lives and we have become a market society. Anything and everything are for sale these days in our nation. Sandel affirms that over the past thirty years our markets have changed from market economies to market societies. In agreeing with Mr. Sandel on this issue, we must understand the message he is trying to convey. It is possible to do so with the following reasons. We can’t allow for causes such as greed to take place, the consequences of inequality and corruption to happen, and open dialogue and debate need to take place so we all can agree how far

Describe the social implications of business ethics facing Marks and Spencer in its different areas of activity.

The term consumer society goes beyond the mere act of shopping and the functional use of goods with contemporary

One topic subject to never-ending debate that is reviewed, revised, then and disputed among scholars, is the market and the economy. In the book, "The Mind and The Market" by Jerry Muller (2002), he discusses the different viewpoints of scholars about capitalism in the market and the influence society holds on it. This writing is comprised of summaries of several reviews from a variety of authors, which will include their viewpoints, their criticism, and an overall review from Muller 's work. These authors include Brian Fox, Patrick Murray, Charles Tilly, and Fritz Ringer. Each author originates from respected and prestigious journals from different universities, programs, and other education systems. All intellectuals are experts in their field of study with a background in either philosophy, history, or economy, making their viewpoints meaningful, insightful, and relevant. Following the summary of each review will be a comparison and contrasting piece, continuing into an evaluation addressing if they captured the book in an appropriate way. Concluding the essay will have an input of my own personal review of the book. As shown, the reviews vary with their personal opinions regarding the positives and negatives of Muller 's work.

However, today, the focus on stakeholder’s (apart from the shareholders, these are customers, suppliers and employees) expectations has also grown radically. Accordingly, ethical behaviours such as meeting stakeholders’ expectation objectives, environmental objectives and corporate social responsibility, which is accountability to the society and social responsibility, have resultantly become very important. Failure to comply with ethical behaviours can causes a business to damage its brand value and its reputation, which in turn could lead to reduced profits or even losses (Carroll and Buchholtz, 2014).

In "Markets and Morals," Micheal Sandals brings up the question. Should ethics play a role in the market place. Today almost anything can be sold whether it's a hunting permit, the right to immigrate, a prison cell upgrade, and endless other things. Now that money can buy more and more things the way of life for the middle and lower class is getting even harsher. It seems the only way to go up in the world is through money. The past few decades have shown that we are changing from a market economy to a market society. Micheal Sandals describes a market society as "a way of life in which market values seep into every aspect of human endeavor." Because of this change there are debates on how the market should play a role in public

The most fateful change that unfolded in the last three decades was not an increase in greed. It was the expansion of markets, and of market values, into spheres of life where they don’t belong. (4)

What is more important to companies is it their name value or their customers? This question is what is going to be answered and all your curiosity will be exchanged to support to one of the two sides. This week 's reading consisted of two articles that have different views, but at the same time are written in two different centuries so it is understandable that their views are completely different, a lot of things change in the world of business. I will summarize both articles and then inform you on their main view and then answer the question myself on where a business market stands.

These claims on banks can act as money because they are negotiable or repayable on demand, and hence valued at par. They are effectively transferable by mere delivery, in the case of banknotes, or by drawing a cheque that the payee may bank or cash.

Abdullrahim (2010) in her dissertation titled “Service Quality of English Islamic Banks” used a qualitative focus groups research methodology as a primary data collection, which is closely related to the methodology I will propose to use in my study. Abdullrahim (2010) used a mixed methodology of qualitative (focus group) and quantitative (questionnaire) to conduct the study. A modified service quality model (SERVQUAL) was used to measure the quality of service in Islamic banks in the United Kingdom (UK). The quality service model can be described as a degree and direction of the difference between customer perception and customer expectation. The researcher stated that Islamic banking in the UK, “Britain has the most active and developed Islamic banking sector in the European Union and is leading the way for Islamic banking in the west” (Abdullrahim, 2010, p. 1). The researcher focused on Muslims in the UK and what are their perceptions and evaluation of service of the quality of Islamic banks in the UK. The researcher studied Islamic banks in England because there are millions of Muslims who lived in the UK and banks started to offer Sharia products (Abdullrahim, 2010; Hanlon, 2004).