Question: I also defined the differences between laws and ethics in my discussion post. I covered it for the sheer fact that they are always in
I also defined the differences between laws and ethics in my discussion post. I covered it for the sheer fact that they are always in conflict, especially as ethics evolve at a different pace than laws for the most part. As you mention in your post, privacy is critical in the law and ethics of information utilized by organizations under regulations such as GDPR and HIPAA.
A prime example of the legal vs ethical dilemma, Baldelomar highlights the responsibility of CEOs to maximize profits within legal boundaries, even if it means engaging in practices that may be perceived as unethical. Baldelomar uses the case of Martin Shkreli of Turing Pharmaceuticals raising the price of Daraprim drastically by While some argue that maximizing profits is the CEO's primary duty, others stress the importance of ethical considerations in business decisions.
The healthcare industry, in particular, faces scrutiny due to the implications of its decisions on human lives. Ultimately, Giving Givening thank you for there opinion on my post, the opinion on is as follows: Baldelomar suggests that while profitability is crucial, maintaining high ethical standards can yield longterm benefits, including brand reputation and customer loyalty. It recommends establishing a clear code of ethics aligned with the organization's values to guide decisionmaking. There is a complexity of balancing profitability and ethics in business, urging CEOs such as the example provided, to navigate this balance cautiously.
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