What is wrong with the thought that abiding by the law is al

What is wrong with the thought that abiding by the law is all the ethics that a business professional needs to worry about?

Solution

Law is a set of rules framed by the judiciary of a country to regulate the actions of an individual or an entity that may have a negative impact on other people and entities. The individuals who disobey the laws are either penalised or punished by the judiciary. Ethics is a much broader area where the individuals not only abide by the law of the land but also abide by societal and individual rules that regulate from doing any kind of practice that impacts others while benefiting self.

Hence, the thought process that abiding by the law is all the ethics is incorrect as there exist a number of loopholes which provide a workaround for unethical deeds in a law but ethics encompasses every positive activity an individual can take.

Few examples of practices that are legal but not ethical include -