The legal principles and the ethical values are most often closely related but on the other hand the ethical obligations further exceed the legal duties. There are some instances where the law demands ethical conduct and even though law often embodies the ethical principles ethics and law are very far from co-extensive. (Howell 1996) Similarly law does not prohibit very many acts that would be highly condemned as being unethical and also the contrary is true as well. Examples of where the laws would directly relate to ethics include;
1. The employment laws 2. The federal regulations 3. The code of ethics Some business organizations establish their own code of ethics and they could be formally written or even understood even though the government does not enforce these codes they are enforced by the businesses internally. However the violation of these codes in some instances can be grounds for termination of ones working contract. (Enderle 1999) How legislation affects local and multinational business operations
The legislation affects the local and the multinational businesses by imposing some taxation measures and also tariffs on these business operations and this limits their operations locally and also internationally. Secondly the legislation creates laws that monitor the multinational business operations and this creates some barriers to such organizations since they cannot freely operate in a country without obtaining the legal requirements from the concerned authorities.
Through the legislative laws both the local and the multinational business operations are thoroughly monitored so that they don not engage themselves with any illegal operations in their businesses. There are also various legal requirements that are demanded by the government from both the local and multinational and this includes the licensing requirements which ensures that all the businesses are legally registered and that they properly adhere to the set rules and regulations. Comparisons between ethical and legislative requirements
The ethical requirements are concerned with the moral and the human conduct and various professional codes highlight the society’s values that are deemed to be particularly important in the establishment of standards of ethical behavior. The ethical requirements on the other hand set the standards for conduct at a higher level than the legislative requirements. (Hosmer 1997) But it would also be incorrect to say that the legislative requirements are unconcerned with the societal values.
In a society that is just there should be interplay and an overlap between law and ethics but some people live out their values in various ways which exceed both the ethical and the legal requirements. The values from both the legislative and the ethical requirements set minimal standards of conduct in preserving the common good of all the people. The legislative requirements are consistent and they also have a set of universal rules which are widely accepted, published and also enforced on individuals.
On the other hand the ethical requirements entail whatever is good for an individual and the society at large and it also establishes the nature of duties which people owe one another and themselves. (Bresnahan 1999) Conclusion In conclusion the federal government has had adverse effect on the business law and ethics and also on the decision making processes in various business settings. The federal government on the other hand ensures that the policies and the laws which it has laid down do not conflict with the morals of the society and also the positive values of the society.
Reference: Bresnahan, J. (1999): Are Your Work Ethics in Line retrieved from http://www. cnn. com/TECH/computing/9906/22/ethics. ent. idg/ accessed on 24th October 2007 Hosmer, L. (1997): The Ethics of Management. Published by Richard D. Irwin, Inc. Enderle, G. (1999): International Business Ethics. Univ. of Notre Dame Press, Howell, M. (1996): Business Law Today. Chicago, IL: American Bar Association; New York; Prentice Hall Hussein, A. (1999): General Principles and Commercial Law; New York; Macmillan Press