Professional Documents
Culture Documents
Ethical Culture in A Company
Ethical Culture in A Company
Ethical Culture in A Company
INTRODUCTION
Objective of the study
Scope of the study
Limitation of the study
Data collection
INDUSTRY ANALYSIS
COMPANY ANALYSIS
THEORETICAL ASPECTS
DATA ANALYSIS
DATA INTERPRETATION
Findings
Suggestions
Conclusion
BIBLIOGRAPHY
INTRODUCTION
When most people think of ethics (or morals), they think of rules for
distinguishing between right and wrong, such as the Golden Rule ("Do unto others as you
would have them do unto you"), a code of professional conduct like the Hippocratic Oath
("First of all, do no harm"), a religious creed like the Ten Commandments ("Thou Shalt
not kill..."), or a wise aphorisms like the sayings of Confucius. This is the most common
way of defining "ethics": ethics are norms for conduct that distinguish between or
acceptable and unacceptable behavior.
Given the importance of ethics for the conduct of research, it should come as no
surprise that many different professional associations, government agencies, and
universities have adopted specific codes, rules, and policies relating to research ethics.
suppliers.
INDUSTRIAL ANALYSIS:
IT SECTOR
Over the past decade, the Information Technology (IT) industry has become one
of the fastest growing industries in India, propelled by exports (the industry accounted for
more than a quarter of India’s services exports in 2004-05). The key segments that have
contributed significantly (96 percent of total) to the industry’s exports include – Software
and services (IT services) and IT-enabled services (ITeS) ie business services. Over a
period of time, India has established itself as a preferred global sourcing base in these
segments and they are expected to continue to fuel growth in the future.
These segments have been evolving over the years into a sophisticated model of
operations. Indian IT and ITES companies have created global delivery models (onsite-
near shore-offshore), entered into long term engagements with customers, expanded their
portfolio of services offerings, built scale, extended service propositions beyond cost
savings to quality and innovation, evolved their pricing models and have tried to find
sustainable solutions to various issues such as risk management, human capital attraction
and retention and cost management.
A key demand driver for the Indian IT services and ITeS industry has been
the changing global business landscape which has exerted performance pressures
on multinational enterprises. According to the Nasscom-Deloitte study, the
IT/ITES industry's contribution to the country's GDP has increased to a share of
5.2 per cent in 2007, as against 1.2 per cent in 1998. Further, the IT and BPO
industries are poised to clock revenues worth US$ 64 billion by the end of fiscal
year 2008, registering a growth of 33 per cent with exports expected to cross US$
40 billion and the domestic market estimated to clock over US$ 23 billion,
according to a study. Simultaneously, the Indian IT services market is estimated to
remain the fastest growing in the Asia Pacific region with a CAGR of 18.6 per
cent, as per a study by Springboard Research.
Outsourcing
Growth:
They have serviced over 825 customers in more than 130 countries through their
portfolio of products and services. Oracle Financial Services Software Limited's de-
risked revenue model continues to deliver consistent results despite changing global
economic conditions. The company is not overly dependent on any one country or
geographical region and has a diversified revenue stream from a widespread customer
base.
Oracle Financial Services Software Limited solutions – Addressing the entire financial
services space through a comprehensive portfolio of products, IT services, consulting
and knowledge process outsourcing services.
News Facts (Oracle Financial Services Software Limited)
• Oracle Financial Services Software Limited was previously known as I –
flex solutions
• This approval follows the earlier approval of the name change by the Board
of Directors and the Shareholders of the Company.
• The new name reflects the company's close strategic and operational
alignment with its parent, Oracle Corporation, which owns 81 percent of the
company.
Oracle is the largest enterprise software company and counts 20 of the top 20 banks and
insurance companies among its more than 8,500 financial services customers across 145
countries.
Oracle Financial Services offerings are part of Oracle's solutions for banking
Oracle Financial Services Software, a majority-owned subsidiary of Oracle, is a leading
provider of banking solutions. Oracle FLEXCUBE is a complete banking product suite
for retail, consumer, corporate, investment and asset management, and investor
servicing. Oracle Daybreak helps banks reduce risk and increase productivity throughout
the consumer-lending cycle. Oracle Reveleus delivers a suite of analytical applications
for multi-jurisdictional Basel II compliance and risk management. And the Oracle
Mantas Behavior Detection Platform is the industry's most comprehensive solution for
anti-money laundering, detecting risk, and enhancing customer relationships.
The decade-old relationship between i-flex and Oracle Financial Services Software
Limited was further strengthened in 2005 at a strategic level. In August 2005, Oracle
Corporation announced that it would buy Citigroup’s 41 percent equity interest in Oracle
Financial Services Software Limited and floated an open offer to purchase up to an
additional 20 percent ownership from existing shareholders. Oracle has expanded it’s
investment in Oracle Financial Services Software Limited to become a majority
stakeholder in the company.
Together, i-flex and Oracle Financial Services Software Limited offered the most
comprehensive product footprint for Banking, Capital Markets and Insurance available
in the market today. The depth of the product offerings combined with the global reach
and world-class expertise in successfully delivering solutions for financial services
industry make this partnership the most potent combination in the industry today.
ETHICAL CULTURE:
Ethics have begun to play a very important role in the study of organizational
behavior and in the relations between organizations and the environments in which the
organizations work. It has been recognized that behaving efficiently and effectively. It is
not always easy to differentiate between ethical and unethical behavior. The ethical
dimensions of an action vary from person to person and situation to situation. What may
seem unethical in one scenario may be perfectly acceptable and even desirable in another
scenario.
Ethical culture is usually defined as the documented systems and procedures that
articulate a shared perception of the organization’s values, of what behavior is right and
what behavior the organization expects from its members in certain situations.
Organizations usually articulate this ethical culture in written form or formal structures,
such as:
• Codes of ethics.
• Client characters.
• Organizational rules.
• Compliance procedure.
• Policies and systems.
• Reward and incentive programs.
There are also other formal systems used to reinforce ethical culture such as disciplinary
and enforcement mechanisms, ethics training and training in the organization’s values,
objectives and strategic goals. Informal mechanisms include expectations about
obedience to legitimate authority, peer behavior and other ethical norms.
The ethical context of an organization can influence its operations, the decision-
making of its members and their behavior in many ways.
3. Review how the firm articulates its ethical culture and the documents and
systems it uses to do so;
4. List the particular ethical risks or issues that the organization faces;
6. Will the existing ethical context allow the organization to ensure those risks
are minimized or will it exacerbate those risks?
8. Consider any potential conflicts that might arise between the existing ethical
context and the company’s goals;
9. Design a strategy for changing or strengthening the ethical climate and ethical
culture so as to ensure alignment.
In performing these steps, a number of questions should be asked, including:
2. Is it clear and does it really set out the organization’s values and what it
believes in?
3. Does it align with organizational vision and support goals, strategy and desired
behaviors?
It may be that alignment has been achieved. For example, the organization may
have a law and codes climate which predominates and which is clearly
articulated in the organization’s documents, systems and training. This climate
may also be appropriate given the extent to which financial service organizations
and financial advisers are governed by government regulation and professional
standards.
Oracle Financial Services Software Limited believe that the concepts of Code,
Character and Conversation provide a good framework for thinking about infusing ethics
into organization culture
The Oracle Financial Services Software Limited code of conduct and ethical
policies are the basis for ethical behavior in their business dealings with customers,
regulators and communities in which they operate.
Code of conduct:
The Oracle Financial Services Software Limited code of conduct
provides a framework of Oracle Financial Services Software Limited’s values
and ethical standards. The following principles must be applied in their day to
day business.
• All decisions and actions must conform to all applicable laws, regulations
and corporate policies.
• Business must only be secured for Oracle Financial Services Software
Limited on the basis of their belief in competitive market systems and the
appropriateness of earning a profit by providing their customers with
effective service.
• Individuals must be trustworthy and honest in all actions and relationship
in behalf of Oracle Financial Services Software Limited.
• Situations where personal interests conflict, or appear to conflict, with the
interests of Oracle Financial Services Software Limited, or its customers
must be avoided and prudently dealt with.
• The results of each action or decision must be fair and even handed to all
parties to the transaction or event, in both the short term and long term.
• Each decision or action must be appropriate, in terms of both their sense of
integrity and the security of others. It should seem appropriate even if
published in a major newspaper.
• Human dignity and esteem must be respected in all of their dealings with
others.
• Communication must be honest and accurate. Confidentiality must be
maintained where appropriate and necessary.
• Ethical conduct should be acknowledged and valued by all employees and
agents of Oracle Financial Services Software Limited.
ETHICAL POLICIES:
After that they should contact any of the people or functions listed
step 2.
STEP 1 STEP 2
Define Report
your your
concer concer
n n
Supervisor or next
What causes your level of
concern? management
Group Head
Who is involved?
When did it
happen? Chief Compliance
• Oracle Financial Services Software Limited makes sure that other their
legitimate associations permitted by law, their employees should not
discuss or enter into arrangements with competitors.
• All assets (including the goodwill of the company) and facilities owned by
the company are used solely foe Oracle Financial Services Software
Limited business. They must not be used for personal benefit or personal
consumption except where permitted or authorized by Oracle Financial
Services Software Limited in line with the local market practices and laws.
• The data and records should managed accurate and complete all times.
• Oracle Financial Services Software Limited must not leave any vendor
with the impression that it is necessary or useful for the vendor to
purchase products or services offered by Oracle Financial Services
Software Limited or its subsidiaries.
DATA INTERPRETATION:
Findings:
• Oracle Financial Services Software Limited ethical policies are complied
not only regarding employees but also customers, suppliers, investors.
• Oracle Financial Services Software Limited ensures that employees are
made to know the ethical policies as soon as they enter the company.
Supervisors and managers are responsible to help their staff understand
and apply these values in their working environment.
• Oracle Financial Services Software Limited takes decision on the basis of
ethical values so that it should not harm the parties involved in the
decision.
• When there is a conflict between the employee concern and Oracle
Financial Services Software Limited ethical policy Oracle Financial
Services Software Limited has procedures to solve those conflicts which
help the employees as well as the organization.
• The ethical policy regarding customers gives goodwill to Oracle Financial
Services Software Limited from customers. The customers have great
belief in their quality of service Oracle Financial Services Software
Limited provides them.
• Investors of Oracle Financial Services Software Limited are ensured that
all the assets including tangible as well as intangible are maintained
properly which is complied in the ethical policies. All the matters
regarding the Oracle Financial Services Software Limited are accurate and
confidentially maintained.
• The employees are happy with ethical policies regarding them because all
the policies relating them are in such a way that it protects the concerns of
the employees also. They are treated equally and the reward given to them
are based on their performance only.
• Oracle Financial Services Software Limited ensures any activities
regarding the employees done outside the organization can be done unless
it does not affect the organization.
• If the employees violate any rules or did any unethical activity they are
given immediate termination.
• The main unethical activity considered is harassment.
• The other unofficial unethical activities are comes to office after having
drunk, smoking in the prohibited areas of the organization.
• The rules and regulations are very strict and employees fear to do any
unethical activities.
SUGGESTION:
Many of the employees were really not aware about the ethical policies
even inspite of the responsibility of the managers and supervisors duty to make
them aware about it. They should make sure that all the employees are aware
about the company’s ethical policies.
Trainings and seminars can be given to employees on ethical decision
making.
The ethical policies can be revised once in a year as the organization grows
to keep up their goodwill and gain more reputation in this cut throat competition in
the world.
CONCLUSION
WEBSITES:
www.google.com
www.altavista.com
www.yahoo.com
www.iflex -solutions.com