Important Characteristics Of An Individual s Behavior

Business is a broad field, and there are many important characteristics that play a significant role in ensuring that business decisions are done correctly. Laws and regulations are made and enforced to make sure that corrects decisions are done. One of the main purposes of laws is to make sure that ethical principles are not broken. However, each situation is different and some times laws and ethics intertwined, and laws could cause people to act in unethical ways. Ethics could be defined as moral principles that guide an individual’s behavior. Ethics could be influenced by the person who is seeing it and by the culture in where the situation is taking place (McKay, Nitsch Peters). A major guideline that could be used to evaluate if a situation is ethical is to determine if a situation is right or wrong. Is very important that businesses or global banks follow ethical guidelines. This would allow society to trust in their decision making. The word society covers a big group of people, which include investors, clients, and other financial industries (McKay, Nitsch Peters). Having ethical guidelines would help a business or a bank to growth in a healthy way for a long term. Moreover, a recent ethical scandal that took place in London but had a huge influence in the United States was the JP Morgan London Whale Scandal. This incident took place in 2002, and it brought huge losses to the biggest bank in the United States. This is what happened in 2002, JP Morgan tradersShow MoreRelatedHigh-Performance Teams1225 Words   |  5 PagesAbstract The purpose of this paper is to explain how a group can become a high-performance team. The purpose is also to examine the impact of demographic characteristics and cultural diversity on group behavior. This paper will illustrate how demographic characteristics and cultural diversity contribute to or detract from high-performance teams. 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