Explain the difference between ethics, morality, and the law.

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter5: Ethics, Corporate Responsibility, And Sustainability
Section: Chapter Questions
Problem 1CRQ: What is the difference between ethics and business ethics?
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  • Explain the difference between ethics, morality, and the law.
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Ethics are principles that regulate the behavior of employees while conducting any activity. It is the process of influencing various decisions of people and shape their purpose and values. Values, principles, and purpose define the right conduct and serve as a credential for choosing the best course of action. Ethical decisions are concerned with beliefs, values, and principles.

Morals define the goodness and badness and the right and wrong behavior of humans. People inherit morality from the community, culture, or family. Morals define the personal conduct that one might derive from an experience or story. These standards of behavior must be right and acceptable and enable humans to live in groups.

Law is the system that defines the rules and regulations for society or country. Law enforces the standards of people and regulates their actions. The rules and regulations must be followed by each member of the community lawfully. It defines the correct process of behavior via governmental institutions. It is designed to regulate society to protect them from any harm.

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