Difference between Morality and Ethics:

Morality Ethics
More general and prescriptive based on
customs and traditions.
More concerned with the results of wrong
action, when done.
Thrust is on judgment and punishment, in the
name of God or by laws.
In case of conflict between the two, morality is
given top priority, because the damage is more.
It is more common and basic.
Example: Character flaw, corruption, extortion,
and crime.
Specific and descriptive. It is a critical
reflection on morals.
More concerned with the results of a right
action, when not done.
Thrust is on influence, education, training
through codes, guidelines, and correction.
Less serious, hence second priority only. Less
common. But relevant today, because of
complex interactions in the modern society.
Example: Notions or beliefs about manners,
tastes, customs, and towards laws.

Why we should be moral?

Morality is a social phenomenon. Morals are the welfare principles enunciated by the wise people, based on
their experience and wisdom. In business and everywhere in life morality is very important. Consider what
the world would be like if there were no business rules at all. Just because there is money involved doesnt
mean that your company should ignore basic moral principles. Both parties to a deal should not be treated
fairly so that they mutually benefit from a transaction. We are all consumers, so we know what its like to
deal with businesses from the other side. Basic precepts your company should adhere to include making sure
that both parties to a deal be treated fairly so that they mutually benefit from a transaction, that the truth be
told, and that customers be accorded respect. A moral business can thrive only if it is making a profit, so an
ethical money-making business plan should be laid out and adhered to.

Consider what the world would be like if there were no traffic rules at all. Would people be able to travel by
automobiles, buses and other vehicles on the roadways if there were no traffic regulations? The answer
should be obvious to all rational members of the human species. Without basic rules, no matter how much
some would like to avoid them or break them, there would be chaos. The fact that some people break the
rules is quite clearly and obviously not sufficient to do away with the rules. The rules are needed for
transportation to take place.

Without morality social life is nearly impossible. Rules of right conduct concerning matters of greater
importance. Violations of such can bring disturbance to individual conscience and social sanctions and
business conducts. Violations may bring a loss of or reduction in freedom and possessions.