Course Title: Apply ethical frameworks and principles to make and act upon decisions
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: BUSM8913C
Course Title: Apply ethical frameworks and principles to make and act upon decisions
Important Information:
Please note that this course may have compulsory in-person attendance requirements for some teaching activities.
To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.
Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209.
Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C5419 - Diploma of Finance and Mortgage Broking Management
Course Contact: Mandeep Chahil
Course Contact Phone: +61 3 9925 5980
Course Contact Email: mandeep.chahil@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Naveen Garg
email: naveen.garg@rmit.edu.au
Nominal Hours: 40
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
Nil
Course Description
This unit describes the skills and knowledge required to apply ethical frameworks and principles when making decisions in own role.
The unit applies to individuals who use ethical principles and apply ethical frameworks to decide on, carry out, and evaluate the effectiveness of a course of action in response to an ethical situation in their workplace.
The skills in this unit must be applied according to commonwealth, state and territory legislation, and applicable national standards and industry codes of practice or similar instruments.
Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant regulatory authorities to confirm those requirements.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
FNSINC514 Apply ethical frameworks and principles to make and act upon decisions |
Element: |
1. Frame the ethical question applicable to the situation |
Performance Criteria: |
1.1 Analyse context of situation and identify ethical principles that may apply 1.2 Analyse psychological tendencies and decision-making biases potentially influencing stakeholders 1.3 Identify potential breaches to regulatory requirements if situation is not addressed 1.4 Analyse ethical situation in the context of organisation's purpose and values 1.5 Evaluate impact on organisation's reputation if response to situation was in the public domain |
Element: |
2. Determine ethical response to situation |
Performance Criteria: |
2.1 Identify key stakeholders and analyse potential impacts 2.2 Analyse situation using an ethical decision-making framework and determine preferred course of action 2.3 Identify situational and psychological barriers impeding the analysis of, and response to, ethical situation 2.4 Seek advice on proposed actions from trusted adviser in the case of highly complex or sensitive matters 2.5 Formulate strategies and processes for responding to situational and psychological barriers |
Element: |
3. Develop implementation plan and carry out ethical response to situation |
Performance Criteria: |
3.1 Develop an implementation plan for ethical response 3.2 Identify reasons and rationalisations that may be encountered when speaking up on ethical issues, and analyse how to respond to them 3.3 Identify risks and stakeholder concerns, and communication strategies that acknowledge and mitigate them 3.4 Implement planned ethical response independently or with the support of colleagues, as required |
Element: |
4. Evaluate outcomes of ethical response |
Performance Criteria: |
4.1 Evaluate outcomes of response to ethical situation and identify whether the issue has been resolved and whether other courses of action could or should have been taken 4.2 Determine consequences of action for self and affected parties 4.3 Analyse what the outcomes of the course of action reveal about own and organisational values 4.4 Identify improved approaches for responding to future ethical situations |
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities. The self-paced activities will be delivered through various technology platforms and include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions. The collaborative classroom based activities will include group discussions, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment.
We expect you to participate and contribute in all scheduled learning activities.
Teaching Schedule
** It's important for students to be aware that a syllabus is a tentative plan for the course and that changes may occur throughout the semester. The teaching schedule may be subject to change. It's a good idea for students to periodically check the syllabus for updates and to communicate with their instructors if they have any questions or concerns about changes to the course information."
Week |
Topic / Learning Materials to be covered |
Assessment due |
|
1
|
Section 1 Introduction and an Overview of the importance of ethics around the industry in financial services.
Activity Section 2 Introduction to industry guidelines, procedures, and legislation
Activity Best Interest Duty has a higher standard with brokers than if you approach a bank for a loan. Discuss. Post in week 1 Discussion Board
|
|
2 |
Continue with Section 2 with Section 2 industry guidelines, procedures, and legislation
Activity Read either the FBAA code of conduct or MFAA Code of Practice. Would you say they ensure ethical protection for consumers?
Section 3 – Managing information Refer to Documentation used in the industry.
Activity What are your ethical obligations when interviewing clients? Post in week 2 Discussion board |
|
3 |
Cont. Section 3 – Managing information
Activity What are the main documents to ensure ethical standards are meet in the event of an audit taking place? Post in week 3 Discussion Board
Activity Students’ questions around assessment task 1 answered.
Section 4: Developing and maintaining personal competency.
Activity Read p.140 of the learner guide and discuss why feedback from customers and peers on an ongoing basis helps with standards,
Post in week 3 Discussion Board |
Allocate student groups and schedule for Classroom presentations All students to attend this week |
4 |
Section 4: Developing and maintaining personal competency.
Activity Identify The Different Types Of Ethical Training You Can Include as part of your PD for the year as required, Post in week 4 Discussion Board Section 5: Industry Codes of Practice – Introduction to all the main codes which impact the broking industry.
Activity Upon joining any of the 2 major broking associations what are the requirements that you need to provide both associations apart from your qualification from RMIT |
Assessment 1 Due |
5 |
Cont.: Section 5: Industry Codes of Practice –
Activity Discuss ASIC’s role regarding the industry codes of practice/conduct.
Examine the difference between ethical standards and legal standards. Ethical behavior and context around business is examined. Post in week 5 Discussion Board
Activity Short answer questions around ethical framewo |
|
6 |
Cont 6: Ethics
Activity Read the statement around the findings in the Royal Commission into Misconduct in the banking, Superannuation and Financial Services industry and discuss the statement made regarding the mortgage broking industry. Post in week 6 Discussion Board
Activity Group discussion around Assessment Task 2. Students’ questions answered and guidance provided.
Case study/role play scenarios to be discussed in the discussion board. Teacher to monitor so feedback can be provided |
Task 2 due |
7 |
Activity During the online class a group discussion around final assessment and role plays will be undertaken. Students will then post any further questions in the discussion board. Teacher to monitor so feedback can be provided Mid Semester Break - 29th-7th April 2024 |
|
8 and 9 |
|
Assessment 3 due |
Learning Resources
Prescribed Texts
Apply Ethical Frameworks and Principles to Make and Act Upon Decisions (2023), Jacinta Scarf |
978-1-76073-291-2 |
References
Other Resources
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral/written presentations and through the application of learned skills and insights. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
There will be one assignment with 3 parts, A, B and C. Please refer the syllabus and the assignment tab on Canvas for further details.
Assessment Matrix
All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.
Other Information
Submission Requirements
You should:
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (Hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use a cover sheet that includes a declaration and statement of authorship. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on Canvas.
- Each page of your assessment should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Julie Macpherson, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: http://www.rmit.edu.au/students/assessment/extension
Form to use: http://mams.rmit.edu.au/seca86tti4g4z.pdf
Where an extension of greater than seven days is needed, you must apply for special consideration. Applications for special consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination.
More Information: http://www.rmit.edu.au/browse;ID=g43abm17hc9w (unresolved) (unresolved)
Form to use: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf
Resubmissions (VET Programs):
If you are found to be unsuccessful in a particular Course Assessment Task (or you do not submit/attend) you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Grading & re-submissions
Re-submissions do not contribute to your overall grade for the course.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which the assessment arrangements might be granted please access the following website:
More Information: http://rmit.edu.au/browse;ID=7usdbki1fjf31
Marking Guide (Competency):
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive one of the three grades-
- C (Competent)
- NYC ( Not Yet competent)
- DNS ( Did Not Submit)
Course Overview: Access Course Overview