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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

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Featured Pathways

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Banking Essentials - Part I

This pathway will walk us through the basics of banks, starting with some of the different types and their main functions, then starting to look at the regulation faced by the banks, both before and after the Global Financial Crisis.

Greenwashing

Greenwashing is the act of distributing false information about something being more environmentally friendly than it actually is.

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Ready to get started?

Plans & Membership

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Finance Unlocked to your current platform

Featured Content

More featured content

Tackling the Cost of Living Crisis

In this video, Max discusses the cost-of-living crisis currently enveloping the UK. He examines its impact on households as well as the overall economy.

CSR and Sustainability in Financial Services

In the first video of this two-part video series, Elisa introduces us to sustainability. She begins by looking at the difference between sustainability and corporate social responsibility, two terms that can be easily confused.

More featured content

Book a demo

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Defining the Firm's Purpose for Culture

Defining the Firm's Purpose for Culture

Roger Miles

25 years: Behavoural science & conduct

In order to understand how a firm’s purpose drives its culture, you need to understand how a company describes, to itself and others, the essential purpose of the firm, its products and its services, and so its reason for existing. In this video, Roger talks about generating and articulating the essential purpose of the firm.

In order to understand how a firm’s purpose drives its culture, you need to understand how a company describes, to itself and others, the essential purpose of the firm, its products and its services, and so its reason for existing. In this video, Roger talks about generating and articulating the essential purpose of the firm.

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Defining the Firm's Purpose for Culture

6 mins 11 secs

Key learning objectives:

  • Outline some challenging and inspiring statements of purpose

  • Outline various purpose themes

Overview:

To understand how a firm’s purpose drives its culture, you need to understand how a company describes, to itself and others, the essential purpose of the firm, its products and its services, and so its reason for existing.

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Summary

What are some challenging and inspiring statements of purpose?

  • “To use our imaginations to bring happiness to millions”: Disney Corporation
  • “To give people the freedom to fly”: Northwest Airlines
  • “To make sustainable living commonplace”: Unilever
  • “To alleviate pain and suffering”: Johnson & Johnson

Also in other sectors, even some of the more workmanlike purpose statements have a strong element of humanity:

  • “To discover, develop and provide innovative products and services that save and improve lives”: Merck
  • “The happiness of the Partnership’s members, through their worthwhile and satisfying employment in a successful business”: John Lewis Partnership

What purpose does the conduct regulator want to see?

Several regulators and think tanks have also proposed helpful descriptions of the purpose of financial services firms to help financial firms along the way with the challenge of articulating purpose.

  • A purpose beyond just making money
  • Channelling and guiding the investment and funding with which our economy is built
  • Diversifying risks and providing affordable financial support to those in need by advancing credit
  • Vital infrastructure: facilitating every single economic transaction through the payments system
  • Delivering long-term sustainable benefits for employees, consumers and shareholders
  • Sustainable custodianship and stewardship of assets
  • Supporting markets, and mediating between savers and borrowers
  • Delivering fair value to customers and long-term value for shareholders

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Roger Miles

Roger Miles

Roger researches behavioural risks in organisations, and advises senior leaders on how best to communicate risk and conduct matters. Previously, Roger ran risk communication programmes for professional bodies and the British Government. He now runs industry-level Academies for Conduct and Culture, and produces workshops with financial firms.

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