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| Ques: How is business ethics |
| different from law? |
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☐☐☐☐☐
_________
| Ques: How is business ethics |
| different from law? |
_________
☐☐☐☐☐
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Answer:
In simple terms, the law may be understood as the systematic set of universally accepted rules and regulation created by an appropriate authority such as government, which may be regional, national, international, etc. It is used to govern the action and behavior of the members and can be enforced, by imposing penalties.
Many times the term law is juxtaposed with the term ethics, but there is a difference, as ethics are the principles that guide a person or society, created to decide what is good or bad, right or wrong, in a given situation. It regulates a person’s behavior or conduct and helps an individual in living a good life, by applying the moral rules and guidelines.
For a layman, these two terms are same, but the fact is that there is a difference between law and ethics. Read the article carefully, to overcome your ambiguities.