Solution

Codes of ethics, which govern decision-making, and codes of conduct, which govern actions, represent two of the most common ways that companies self-regulate.  Ethical standards generally are wide-ranging and non-specific, designed to provide a set of values or decision-making approaches that enable employees to make independent judgments about the most appropriate course of action. Conduct standards generally require little judgment; you obey or incur a penalty, and the code provides a clear set of expectations about which actions are required, acceptable or prohibited.  Both codes are similar Insofar as they attempt to encourage specific forms of behavior by employees. Ethics guidelines attempt to provide guidance about values and seeks to influence decision-making, whereas conduct regulations assert that some actions are appropriate or inappropriate.