>>The rules of conduct recognized in respect to a particular class of human actions or a particular group, culture, etc.
Social system — It defines how thing are according to the rules.
External source — Society says it is the right thing to do.
What if we don't do it? — We will face peer/societal disapproval, or even be fired from our job.
Flexibility — Ethics are dependent on others for definition. They tend to be consistent within a certain context, but can vary between contexts.
The "Gray" — A person following Ethical Principles my not have any Morals at all.
>>Principles or habits with respect to right or wrong conduct.
Individual system — It defines how things should work according to an individuals' ideals and principles.
Internal Source — Because we believe in something being right or wrong.
What if we don't do it? — Doing something against one's morals and principles can have different effects on different people, they may feel uncomfortable, remorse, depressed etc.
Flexibility — Usually consistent, although can change if an individual’s beliefs change.
The "Gray" — A Moral Person although perhaps bound by a higher covenant, may choose to follow a code of ethics as it would apply to a system.
For example — lawyers, policemen and doctors all have to follow an ethical code laid down by their profession, regardless of their own feelings or preferences.
For example — the ethics of the medical profession in the 21st century are generally consistent and do not change from hospital to hospital, but they are different from the ethics of the 21st century legal profession.
For example — One professional example of ethics conflicting with morals is the work of a defense attorney. A lawyer’s morals may tell her that murder is reprehensible and that murderers should be punished, but her ethics as a professional lawyer, require her to defend the client to the best of her abilities, even if she knows that the client is guilty.
For example — The Ten Commandments and the Categorical Imperatives are examples of absolute moral laws.