In any business longstanding relationships are built on the basis of trust. For that the goals and objectives of any organization are broken down into sub goals and activities to be performed by each individual in the organization.
Ethics is very important for the development of an individual personality as well as for building an institution. Ultimately at the grass root level it is the individual whose activities are judged based on the results. Not only the results, but also the means to the ends too. Such an organization consisting of highly ethical and value based individuals is called an institution. While organizations aim at maintenance of internal order and efficiency in goal realization, institutions stretch beyond these goals. The actions of the institutions are valued in the community and society. While all institutions come into existence as organizations, the cutting edge for them to be called as great institutions is certainly the high pedestal of ethics and values on which they stand. Hence institution building means - making continuous efforts by individuals at all levels to transform the organization into an integrated organic body, establishing its identity founded on fundamental values and ethics.
Self-mastery and self-discipline are the foundation of good business relationships. Trustworthiness is the basic prerequisite for building long-standing relationship. There has been a terrific dip in the credibility in individuals, organizations and even political leadership in various countries. Banking profession is no exception. Frauds are on the increase in the recent days. Anti- frauds departments are being established in the banking sector. This has become an important item in the agenda in the board meetings too.
In olden days, ethics and moral science comprised the most important part of the education curriculum. Slowly, with the increase in the commercial value based studies, people have turned a deaf ear for these values. We have been callous about the more important aspect of human dignity. Now time has come to realise the importance of inculcation of values. Knowledge, expertise, ethics, morality, character and other virtues should become part and parcel of modern day training packages in all the organizations and institutions.
Morally speaking, ethics always says - Not I, but the society comes first. The efforts made by the individuals must always be directed towards achieving in the interest of nation, society, community and organization. Every one should keep in mind – ‘ I must hold myself last’. Hence one should never make any extra effort to garner the extra rupee through unethical means. Unethical accumulation of lucre is the root cause of self-destruction of an individual.
There are different dimensions of ethics in banking. Ethics and values in relation to each individual, ethics and values towards each depositor and borrower, ethics in terms of practices followed in resource mobilization, ethics with regard to the work culture of the employees and ethics of our responsibility and accountability towards society in the capacity of a corporate citizen.
Every one in the organization should become a good human being first. Subsequently professionalism can be developed automatically with the inherent virtues. Individual wealth alone does not bring happiness to any person, according to a great ancient wisdom text ‘Hitopadesha’. Man should never think that his spiritual life is different from his professional life. One should make efforts to implement his moral, ethical and spiritual accomplishments in one’s professional life. Then the organizations too shall grow into a healthy institutions.
In our anxiety to get results, we often adopt short cuts. But when we just look back and see, we can easily ascertain that we could not have got to the place where we are, without coming the way we came. There is no way to parachute to the mountain peak. It is always true that the road to success need not always be very smooth. The thrill we derive while undergoing the process of righteous march, and the happiness, which comes to us as a result immeasurable.
There are two dimensions of ethics. First one is personality ethics, which is dubious. We may try to lubricate your social and business interactions with techniques and skills. In the process we may truncate the vital character base. In contrast, the other dimension is character ethics. It is a natural tendency. It flows like a fountain. The genuine and credible business and social relationships can be built with the help of character ethics. The most important ingredient of the character ethic is - synchronization of what we think, what we say and what we do ultimately. In Sanskrit we call it ‘thrikarana sudhi’. Hence one must always be aware of the tendencies and ill effects of personality ethic, and make efforts to nip it in the bud.
People with high levels of personal mastery are more committed. They take more initiative. They have a broader and deeper sense of responsibility of work. To seek personal fulfilment only outside of work and to ignore the significant portion of our lives, which we spend working, would not be appropriate, Because it will limit our opportunities to learn and internalize lessons from experiences. Such internalization fortifies us against possible slide down from desirable path.
Thus, ethics is absolutely necessary for the development of an individual and an institution. Shortcuts and unethical practices may bring short-term successes, but ultimately bring doom upon one’s personality. No long standing relationships can be built abruptly and haphazardly. They have to be nurtured assiduously with sincerity, honesty and mutual trust.