Compliance Vs Ethical Responsibility

Definition: 

There are different degrees of adherence to the rules and ethical standards of a society. 

Some businesses aim only for legal compliance; following the law only to avoid financial penalties of breaking the law; do the minimum required.

Ethical responsibility is the practical application of moral standards; the search and implementation of actions that serve the 'good'.

Some businesses aim for ethical responsibility; implementing programs, partnerships and processes that meet high ethical standards. 

They go above and beyond the law to pursue social good (and use this to position their business from competitors...)

Ethics is a common theme in the course: Marketing, Financial Management, Human Resources.