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How would you explain to a board of directors your decision to pay entry-level workers a higher wage than required by law?

Read: Chapter 8 – Recognizing and Respecting the Rights of All (Byars, S. M., & Stanberry, K. (2019). Business ethics. OpenStax College and Rice University. Retrieved from: https://openstax.org/details/books/business-ethics) For the discussion post, answer the following questions:

Does a company have an ethical duty to find a balance between remaining profitable and paying all workers a decent living wage? Why or why not? Who decides what constitutes a fair wage? How would you explain to a board of directors your decision to pay entry-level workers a higher wage than required by law? Be sure to use in-text citation and provide references for your sources, including textbooks.