Moral Ethical and Legal Issues

In order to develop and internalize a moral compass, an entrepreneur and members of the organization must continually train and develop their ethical “muscles.” These ethically-based muscles include qualities such as trust, sincerity, respect, responsibility, commitment, care, love, and justice. However, as you will learn, an entrepreneur must first provide the organizational framework and foundations in which individuals and business units regularly exercise these qualities. Part of this framework and foundation is that everyone receives the right education, has the opportunity to identify and address gaps in their behavior, receives recognition and incentives that reinforce good ethical behavior, and receives consistent, timely and substantive consequences if they do not act responsibly. These and other actions begin to help individuals develop and internalize an ethical compass. Informed consent may be obtained from a legally authorized representative if a potential research participant is unable to give informed consent[4] (children, mental disability). The participation of these populations must be conditional on their being able to benefit from the results of the research. [4] The “legal representative” can be a spouse, close relative, parent, power of attorney or legal guardian. The hierarchical hierarchy of priorities of the representative may vary from country to country and region within the same country; Local guidelines should therefore be consulted. An example of a large-scale moral and ethical crisis is the collapse of subprime loans and the housing market in 2008. Subprime loans violated basic morality by tricking buyers into signing mortgages that were intentionally destined to fail. Mortgage brokers violated basic morality by selling these loans. Because of their shared focus on right and wrong, preventing immoral behavior and formulating standards for specialized professions such as doctors and social workers, ethics and law are inextricably linked.

Nevertheless, ethics and law are different fields, and a person`s ethical responsibilities often outweigh their legal responsibilities. Another similarity is that legal and ethical standards help society as a whole. The legal norms are there to allow the authorities to punish offenders so that people have some kind of security. Ethical standards exist for the same reason. Both are there to help people feel safe and prevent people from being hurt by others. Legal norms are standards set out in state laws. All laws to which lawyers refer are legal norms. If you drive through a big city downtown, you`ll notice parking signs everywhere telling you that you can`t park there for a long time, and they`ll quote a city law or code. This shows a legal standard. While caution, testing and validation are necessary to protect against premature, inappropriate and unethical use of toxicogenomic data in regulatory and legal contexts, care must also be taken to ensure that toxicogenomic data do not impose a higher standard of evidence than other types of toxicological data used in settlements and litigation. An ethical problem is rooted in morality, which requires a person or company to choose between alternatives that can be evaluated as bad (unethical) or just (ethical).

It is based on the perception of right or wrong of an action or situation and thus affects society or other individuals. An ethical question also raises questions of virtue and is often guided by one`s own sense of right and wrong. Ethical entrepreneurs constantly strive to apply ethical concepts in practice, including truthfulness and full disclosure. These two concepts are not only part of an ethical approach to the conduct of business, but also of the underlying requirements of several areas of law, including fraud. A company that manufactures/sells a product or service is responsible for fully disclosing the truth about its products/services. Ethically and legally have different meanings, although they both aim to ensure that people live well. Ethical means carrying the value of distinguishing good from bad behavior, while legal means acting in accordance with the law. • What is legal may be unethical.

For example, firing an employee by a company is not illegal, but it can be unethical. Moral conscience is a precursor to the elaboration of legal rules for social order. Legal standards are useful because they help people know what they cannot do. Legal standards allow authorities to apply rules when people do something illegal. For example, if someone steals, the legal standard “you can`t steal” is used to discipline that person, perhaps by putting them in jail. Research suggests that ethical conflicts in the healthcare sector are increasing, both due to the increasing complexity of care and due to scientific and technological advances. Several studies that have attempted to analyze ethical conflicts that occur in intensive care units have found that ethical conflicts experienced by critical care nurses come from three main sources: legal norms are enforced by a government agency, while ethical standards are usually enforced by human principles that involve good and bad behavior. Thus, legal norms, unlike ethical norms, are punished in case of violation. Examples of moral issues and ethical boundaries are often crossed when the risk of crossing those boundaries is a great reward.

Typically, the reward in the business is profit or power, which ends up generating future profits. Biological repositories are repositories of human biological materials collected for research purposes.