A 'Code of Ethics' and a 'Code of Conduct' are often confused or used interchangeably. Discuss.

The terms "Code of Ethics" and "Code of Conduct" are often mistakenly used interchangeably. They are, in fact, two unique documents. Codes of ethics, which govern decision-making, and codes of conduct, which govern actions, represent two common ways that companies self-regulate. Similarities: Both a Code of Ethics and a Code of Conduct are similar as they are used in an attempt to encourage specific forms of behaviour by employees. Ethics guidelines attempt to provide guidance about values and choices to influence decision making. Conduct regulations assert that some specific actions are appropriate, others in appropriate. In both cases, the organization's desire is to obtain a narrow range of acceptable behaviour from employees. Differences: With similarities, comes differences. Both are used in an attempt to regulate behaviour in very different ways. 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 fairly clear set of expectations about which actions are required, acceptable or prohibited. Violation of code of ethics may not lead to action against the employee but violation of code of conduct may lead to disciplinary action.