In the workplace, managers are required to follow :

Such legal standards of behavior that are created by the act of law as well as the ethical standards of behavior which are formed on the basis of the society’s shared values.
Since managers deal with the various stakeholders in the business, it is essential that their interests are taken care of, both on the basis of the ethical groundwork as well on the basis of the law. The role of business ethics and Corporate Governance is hence of significant importance at the workplace as far as the managers are concerned with the management of their respective responsibilities.
 
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