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Q: If the majority of companies strive to conduct their business ethically, why is there a need to create laws? How are ethics different from the law? How are ethics and the law the same? Support your
answer with real-world examples.
A: Ethics are a personal or social standard that other's "should" live by. These are effected by environmental and influential experiences and what one perceives to be ethical. [ Laws differ from ethics because they are a specific set of standards one MUST comply to in order to keep things peaceful and orderly. Laws are set forth because not everyone is ethical and they need some sort of
guideline to prevent chaos. ]
Expert answered|J_ME_|Points 30|
Asked 4/5/2011 4:40:13 PM
Updated 8/30/2013 5:27:17 PM
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If a company does not adhere to business ethics and breaks the laws, they usually end up being fined. Many companies have broken anti-trust, ethical and environmental laws and received fines worth millions. The problem is that the amount of money these companies are making outweighs the fines applied. Billion dollar profits blind the companies to their lack of business ethics, and the dollar sign wins.
A business may be a multi-million seller, but does it use good business ethics and do people care? There are popular soft drinks and fast food restaurants that have been fined time and time again for unethical behavior. Business ethics should eliminate exploitation, from the sweat shop children who are making sneakers to the coffee serving staff who are being ripped off in wages. Business ethics can be applied to everything from the trees cut down to make the paper that a business sells to the ramifications of importing coffee from certain countries.

In the end, it may be up to the public to make sure that a company adheres to correct business ethics. If the company is making large amounts of money, they may not wish to pay too close attention to their ethical behavior. There are many companies that pride themselves in their correct business ethics, but in this competitive world, they are becoming very few and far between.
Added 8/30/2013 5:27:17 PM

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