Arunima, an expert in management field, was appointed as independent director on the Board of Sarpen Ltd, a public company engaged in manufacture of petroleum products. Roopen, Company Secretary of the Company was asked

The following are the standard ethical practices which a Company should follow: Corporate Responsibility: The organization works as a separate legal entity with certain moral and ethical obligations. Such ethics safeguard the interest of all the internal and external parties associated with the firm. This includes the employees, customers, and shareholders. Social Responsibility: Making profits should not be at the cost of society. Therefore, corporate social responsibilities (CSR) have been a common practice where businesses work towards environmental protection, social causes, and spreading awareness. Personal Responsibility: Employees are expected to act responsibly with honesty, diligence, punctuality, and willingness to perform excepted duties. Individuals should settle dues in time and avoid criminal acts. Technology Ethics: In the 21st century, companies have adopted e-commerce practices. Technology ethics includes customer-privacy, personal information, and intellectual property fair practices. Fairness: Favoritism is highly unethical. Every individual possesses certain personal bias. But at the workplace, personal beliefs and biases should not affect decision-making. The firm has to ensure fair chances of growth and promotion for all. Trustworthiness and Transparency: Businesses should maintain transparency in business practices and financial reports.