Download - 5. Clifford Chance Business Challenge
![Page 1: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/1.jpg)
Presented by: Aby, Alex, Anca, Gevanya, Simrun,
Tabitha
‘Ethical business culture can only be created by
strong regulation’
![Page 2: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/2.jpg)
BRIEF OVERVIEWOur definition of Business EthicsTwo Sectors: Banking and Consumer
Goods & RetailAlternative Methods of RegulationAre alternative methods more effective
than strong regulations?
![Page 3: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/3.jpg)
WHAT IS ETHICAL BUSINESS?
Businesses that take into consideration:
Environmental impact Commitment to community Diversity Morally Correct
![Page 4: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/4.jpg)
A PROPOSED ETHICS TEST
Transparency Effect Fairness
![Page 5: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/5.jpg)
ETHICAL BUSINESS CULTURES?- Banking -
![Page 6: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/6.jpg)
UNETHICAL BANKING PRACTICES Usurious practices Speculative Banking Financing Arms Manufacturing
and Trade Financing and Supporting
Totalitarian Regimes Environment/Ecological Impact
![Page 7: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/7.jpg)
SO WHAT'S BEEN DONE ? Basel III (Third Basel Accord) –
2009
Banking Structural Reform – 2012/2014
The UK Banking Reform/The Financial Services Act – 2013
A Financial Policy Committee (FPC)
A Prudential Regulatory Authority (PRA)
A Financial Conduct Authority (FCA)
![Page 8: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/8.jpg)
HOW EFFECTIVE IS IT?
Issues of unethical and overly risky behaviour remain
Increased evidence of unethical behaviour
Regulation influence culture, but isn't sufficient to creating ethical business culture.
'Soft' issues are vitalBank leaders need to intervene
![Page 9: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/9.jpg)
ETHICAL BUSINESS CULTURES?- Consumer Goods & Retail -
![Page 10: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/10.jpg)
UNETHICAL RETAIL PRACTICES
Environmental Impact
Sourcing of Products
Treatment of Employees
Impact on the ‘Gig-Economy’
False Advertising
![Page 11: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/11.jpg)
SO WHAT'S BEEN DONE ?
Sales of Goods Act 1979
Consumer Rights Act
2015
Consumer Protection
from Unfair Trading
Regulations 2008
![Page 12: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/12.jpg)
ANY ALTERNATIVES TO REGULATIONS?
Internal Codes of Values Stake-holder pressure Stronger Corporate Governance Industry Watch Dogs Ombudsman
![Page 13: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/13.jpg)
CONCLUSION
Can ethical business culture only be created by strong regulation?
Alternatives required if an ethical business culture is to be maintained.
![Page 14: 5. Clifford Chance Business Challenge](https://reader033.vdocument.in/reader033/viewer/2022051709/587017221a28ab7f428b5b8d/html5/thumbnails/14.jpg)
Thank you! ANY QUESTIONS?