Risk management is not only a decision about how much risk the firm should bear, it is also a decision about much risk the firm's customers or suppliers are prepared to bear. As a more general matter, suppliers, customers, community members, firm shareholders, and employees are all risk bearers for a firm. Managers must determine the optimal level of risk for all parties and consider not only how each individual risk affects the firm's total risk exposure, but also evaluate the optimal way of managing and distributing those risks.

- Boatright 2013, What is risk management? p.235

Required:

Considering the above quotation, critically analyse the need for ethics to be part of organisational culture in order to achieve what is stated above. Please use examples from the Royal Banking Commission or other context specific examples to support your arguments (400 words)