The document discusses key concepts in business ethics including: 1) Business ethics refers to practices and behaviors that are good or bad in a business context. There are two key branches - descriptive ethics which describes morality, and normative ethics which justifies moral systems. 2) There are three models of management ethics - moral management which conforms to high ethical standards, amoral management which does not consider ethics, and immoral management which opposes ethics. 3) When making ethical judgments, managers should consider their moral imagination, identification of ethical issues, evaluation of situations, and sense of obligation to integrate ethics into their roles.