This document discusses ethics and managerial ethics. It defines ethics as the code of moral principles that govern what is right and wrong for a person or group. Managerial ethics refers to making ethical decisions that consider what is right, proper, and just regarding relationships with customers, suppliers, stockholders, managers and subordinates. Having strong ethics improves the work environment, motivates employees, improves company image, and leads to cultural enrichment. There are three views of managerial ethics: utilitarian focuses on outcomes, rights respects individual liberties, and duties are based on responsibilities and obligations. The document also discusses three models of management ethics and approaches to forming ethical rules and relationships with stakeholders and coworkers.