The business case for an ethical strategyA) relates to the company's business model and business-level strategy.B) must be articulated by the company's senior managers and reinforced by pronouncements from the board of directors.C) starts with managers who understand there is big difference between adopting values statements and codes of ethics that serve merely as window dressing and those that truly paint the white lines for a company's actual strategy and business conduct.D) emphasizes that pursuing unethical strategies not only damages a company's reputation but can also have costly consequences that are wide ranging.E) can be effectively made by executives subscribing to the damage control approach to managing a company's ethical conduct.D) emphasizes that pursuing unethical strategies not only damages a company's reputation but can also have c

The ethical principles in business are not much different from the ethical principle in general. They are not separately based on some other special rules to judge business conduct. They are judged from the society's perspective of right and wrong.

There are two schools of ethical principles, namely, ethical universalism and ethical relativism. Universalism believe that the concept of right and wrong are universal. While, on the other hand, relativism school believes that they vary according to local customs.

Though universal ethical principles from different societies form a kind of informal contract that all individuals and organizations have to follow.

Failure to observe these principles not only corrode company's reputation but have also other adverse effects and costs involved.