There is no single standard of practice. There is no PR police. But does that means there are no rules? Of course, not. There are rules of conduct that are created and imposed by your colleagues, by your competitors , by your clients’ industry and by society at large. Part of the problem is that often you don’t know what the rules are until after you have broken them. One thing is clear, you need to establish a culture in your firm that speaks to your values. Further, you can’t just say what the company rules are, you need to walk the walk as well. As Prof. Terrence E. Brown says, “Demonstrative leadership is key.” What ever you culture you try to develop, try include – openness, honesty, transparency, merit, fairness and loyalty.
Here are few slides that expand on this issue of PR and ethics.