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Current Ethical Issues

Essay by   •  February 6, 2013  •  Essay  •  655 Words (3 Pages)  •  1,392 Views

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Current Ethical Issues

In the business environment of today, ethics has become more important to companies and customers. A company ensuring they have a good solid ethics program in place protects the company financially and ethically. The role that ethics now has in the business world is much greater than previously.GM Financial Service carries high importance in ensuring characteristics which build solid ethical decisions are continually met. Respect, responsibility, fairness, caring, and good citizenship are necessary for good character. GM Services has moral and ethical issues faced daily with in the business.

GM Financial Services is a mortgage/lease company, which offers hassle free financial services. The mortgages rates are offered one of lower rates available long with an individual car loan and leases. GM mission is to get everyone approved before closing its loan.GM Financial Services will be the dominant provider of low cost mortgage services and car loan/lease using the most updated technology available to us."

GM Financial Services offer their customers the most effective and efficient mortgage/car loan application processing from start to finish. They work with individuals, families, service members, and retirees looking for primary and or secondary homes and vehicles. Ethical dilemmas could become present with the wide range of customers just mentioned.

Looking into some of the moral and ethical dilemmas GM Financial Service may be faced with, first we must know what morals and ethics are. Morals are ones principles of right and wrong regarding behavior and character reflected on those principles. Ethics are a set of moral values or principles.

GM Financial Service needs to make sure that each individual client is treated with respect and follows the rule which is valid in all aspects, professional and personal, of life For GM Financial Service it will be of the utmost importance that employees treat each individual client in the same way that they would want to be treated if they were the client. Employees treating customers in this manner will make the client feel comfortable, make the client easier to work with, gain repeat customers, gain new customers by word of mouth, gain revenue for the company, give the company a reputation to be talked about and to be proud of. Treating customers as you would not want to be treated like as a customer would cause customers to not use our services offered, build a bad reputation, cause the business to lose money, and eventually cause the business to go out of business.

Another ethical dilemma is personal financial information being secure. With the increase of electronic and internet crimes it is extremely important that GM Financial Services protect not only their employee's information but also their customer's information with state of the art protection technology. The security of the

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