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This chapter has explored the emergence of business ethics from the exercise of individual beliefs and values in the marketplace. It examined ethics from the perspective of the degree of respect an individual has for the natural right of others to own private property. It explained the prevalence of corporate scandals in the context of the separation of the ownership of the corporation from its control, and the divergence of the interests of the shareholders from those of managers. It also explored why this separation gives rise to corporate aggression. The chapter also introduced virtuous decision making as a special case of ethical decision making, a virtuous decision or action being not only ethical but also courageous. Enlightened wisdom facilitates decision-making processes. Knowledge is thus a prerequisite for both ethical and virtuous decision making. When faced with ethical dilemmas, there is often no time for research. Knowledge must thus be acquired through the ingrained conditioning of the individual through education, experience, training, and development.


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