1. The document discusses ethics, social responsibility, and ethical dilemmas that entrepreneurs may face when running a business. It notes that while profit is important, society expects businesses to also consider ethics and their social impact. 2. Ethical dilemmas are complex with no clear answers and often involve weighing the needs of various stakeholders. The document provides a four-step process for addressing ethical dilemmas involving recognizing the ethical issues, identifying stakeholders, generating alternatives, and choosing the best response. 3. Ultimately individuals are responsible for ethical behavior, but leadership sets the tone. Moral management benefits a business by building a strong reputation while unethical actions can destroy trust.