Ethical leadership means behaving according to principles like integrity, respect, trust, fairness, transparency, and honesty that benefit the common good. Ethical leaders positively influence others through their example and direction. They also maintain credibility and reputation in the long run. Key traits of ethical leaders include knowing their values, behaving ethically consistently, not tolerating deviations, raising concerns even if unpopular, admitting mistakes, taking responsibility, defending teams, acting fairly, and leading by example.