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Right culture must for corporate governance

Culture of accepting failures reduces motivation to violate ethical standards

Asish K Bhattacharyya

Volkswagen has cheated regulators, customers, shareholders and other stakeholders by installing software devised to cheat on emissions tests in its diesel cars. The software could recognise when a car was undergoing emissions tests and set temporary pollution controls. During normal operation, the cars would emit as much as 40 times the allowed amount of nitrogen oxides, a class of harmful pollutants. The company was selling the vehicles as 'clean-diesel' vehicles, which meet the environment norms while being economically efficient and high in performance. According to media ...