What is code of conduct in accordance to business ethics ?

Code of conduct refers to a set of certain rules and regulations that guide the behaviour of the people working in an organisation. Basically, these are dos and don'ts. It is quite necessary to have a code of conduct so as to ascertain the behaviour or conduct of the professionals in a particular and pre-determined manner. For instance, in case of Chartered Accountant, the ICAI (The Institute of Chartered Accounts of India) draws out certain rules and regulations which are a must to follow by all the chartered accountants. These rules thus form the code of conduct for the CAs. 

This is exactly same to the rules and the regulations that we lay-down and agree upon while playing 'gully cricket' or other games like 'pakdam-pakdai'. I believe you also have played these games. Generally, before we start playing the games, we fix a set of rules- say, if the ball gets into any home, then the batsman will be considered 'out'. Similarly, one-tip-one-hand catch is also regarded valid. All these pre-determined rules help us to play the game without any umpire and that too without getting into any chaos and stiffs.

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