ETHICAL AND LEGAL CONSIDERATION

“Ethics, also known as moral philosophy, is a branch of philosophy that addresses questions about morality-that is, concepts such as good and evil, right and wrong, virtue and vice, justice, etc.” “Law is a system of rules, usually enforced through a set of institutions. It shapes politics, economics and society in numerous ways and serves as a primary social mediator of relations between people.”

Laws are mandatory guidelines while ethics are voluntary guidelines. Man starts learning Ethics from the time of birth while laws, according to the requirement of specific actions to make them standardize. Laws are not always based on ethics. But there is a close relation of Law and Ethics. Ethics involve emotions while law is unemotional in its delivery. It is ethical to not break the law. Ethics guide how well we can obey the law. Sometimes ethics does not lead to Laws.

In international environment all firms should obey to legal and follow ethical rules and regulations. It requires little thought for most of us to know the socially responsible or ethically correct response to questions about breaking the law, destroying the environment, denying someone his or her rights, taking unfair advantage, or behaving in a manner that will become a cause of harm or damage for someone (Yucel, Elibol, & Dagdelen, 2019)