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Organisational Ethics - Essay Example

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Organisational Ethics

For a company organization is a means to an end in order to achieve its goals. In this sense, organizations can be distinguished into two fundamentally different sets of objectives:
The team of financial advisors is highly focused, trained up and very aggressive sellers, they concentrate on non walk-in customers and their objective is the selling of business loans. Increasing competition in the marketplace combined with rather draconian cultural internal problems such as bureaucracy, poor communication, and perceived lack of personal job advancement possibilities has led the employees to high levels of frustration many times in the past.
'All organisations begin with some sort of Vision, an initial spark which causes its creation. The organisation's Vision is essentially the dream which unites a core group of people and inspires them to try and make the dream a reality.' We can say that Open24 has a vision on what it wants to achieve in the near future. All employees work towards these visions and indeed if they work as group, then there is no reason as to why they should not achieve their organisational goals.
Open24 organisation's pur...
'All organisations begin with some sort of Vision, an initial spark which causes its creation. The organisation's Vision is essentially the dream which unites a core group of people and inspires them to try and make the dream a reality.' We can say that Open24 has a vision on what it wants to achieve in the near future. All employees work towards these visions and indeed if they work as group, then there is no reason as to why they should not achieve their organisational goals.
(Ping, 1996)

Open24 organisation's purpose grew from their vision and in articulating its mission; they should have stated how it will seek to bring the vision to reality. 'It is stating what its 'Unique reason for being' is, and what the values are that will give meaning to its purpose.' (Ping, 1996)
When it comes to organisational ethics, it is here in the mission statement that the seed is planted which gives rise to the 'shared set of beliefs' that will determine the organisation's climate of opinion. (Ping, 1996)

The main problems that the department faces and can prevent from the above mentioned plans are the following:
Strict Management that creates employee dissatisfaction thus, high employee turnover ratio.
Poor communication.
Internal competition between OPEN 24 and the main net of Eurobank's branches.

Indeed without open and honest internal communication, rewards for acts of moral courage and most importantly, a desire within the organisation to 'walk the talk', the values stated in Open24 mission statement are not worth the paper they are written on. For this case they need to improve their internal communication to ease communication between the organisation and their employees. If ...Show more

Summary

OPEN24 is an Athens based subsidiary of Eurobank which has been actively operating for over four years which, since its conception, has experienced rapid growth by the introduction of new and unique products in the extremely competitive banking sector. The bank, through their highly motivated and aggressive sales department offers this unique banking product for small to medium sized enterprises and thus has a current competitive advantage by offering something that no other bank in Greece does at present…
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