3) What is the difference between unethical and unlawful behavior? Please provide examples for both behaviors in your discussion.
Both unethical and unlawful behaviors stain the business world and have permanent effects on the entity they represent and the business sector in which they operate. Ethics [are] a source of guidance beyond enforceable law (Salvatore, 2012). Usually driven by social norms, ethics prescribe a baseline code of conduct expected of everyone and everything representing an organization. Unethical behaviors include dumping toxic waste and/or employing small children at a very low wage. Now, United States citizens might observe these actions as unlawful (for the most part they are), however not everywhere in the world. Regardless of whether or not they are deemed “Against the Law”, they are a sociological crime against humanity. They involve a wrong doing regardless of an institutional requirement for adherence. Unlawful behaviors however, are actions or requirements edged in stone. Here, specific actions are identified as a crime with established consequences for violators. Examples of unlawful business practices include fraud or misrepresentation of a business to the government or consumers. Ultimately, in society, the key takeaway for “unlawfulness” is the established consequence for action.
5) According to Milton Friedman, "Business has only one social responsibility – to make profits (as long as it stays within the legal and moral rules of the game established by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible." Explain why you agree or disagree with such a statement.
Social responsibility of a business is defined as a concern by business about both its profit-seeking and its non-profit...