This document provides an introduction to ethical theories and traditions. It begins with an outline that lists introduction to ethical theories, religious ethics vs. philosophical ethics, and utilitarianism. It then defines ethics as knowing right from wrong and applying that in a business context. Acting ethically means being honest, avoiding harm, competing fairly, and prioritizing stakeholders over self-interest. The document introduces utilitarianism as an ethical tradition that directs people to maximize well-being and promote the greatest good for the greatest number. It notes that utilitarianism can be difficult to apply due to challenges in measuring and comparing consequences. The document provides examples of how utilitarian reasoning could evaluate issues like child labor.