What is a Code of Ethics :

A code is a set of rules, which are accepted as guiding principles. A code is adopted by a Corporate, Professional bodies, and/or a nation. A Company’s policy statements define the ethical code. Codes do not produce ethical behavior, unless the ethical practices are understood and practiced in both at individual and corporate levels.

Ethical and Unethical Practices:

There are many reasons for an individual or group of individuals or corporate and others to follow ethical or unethical practices. Some of the reasons are:

– Conflict of interest

– Incentives

– Unreasonable targets

– Decision making

– Weak control systems

– Unhealthy competition

– Discrimination

– Empathy