An organization should identify the mandated and voluntary boundaries of business conduct based on its objectives, stakeholders, business model and context. The mandated boundary includes laws, rules, and regulations with which the organization must comply. The voluntary boundary is selected by management and includes values, internal policies and contractual obligations.

Principles
> Understand mandated boundary
> Define voluntary boundary
> Consider stakeholder needs and requirements
> Boundaries should be communicated
> Understand ramifications of going outside the boundaries