If you consider the business of Companies historically, it has embraced colonialism and slavery! So the element of ethics must always underlie necessity of both business personal and organisational conduct. Formal codes of ethics While many of the governance issues that organizations face are not new, the environment in which they confront them today is more challenging than ever.
Many companies are adopting legal compliance mechanisms which address ethics or conduct issues in formal documents. RBI ethics@work The RBI, with the assistance of Professor Dipankar Gupta, who is also a Director on the RBI Central Board, has formulated a Code of Conduct for itself, which we term ethics@work.