Describe the five-step process that businesses can use to think through ethical problems.

What will be an ideal response?

Answer: The first step that businesses can use to think through ethical problems, is that businesspeople should identify which stakeholders a decision would affect and in what ways. The second step is how they judge the ethics of the proposed strategic decision, which is based on the information found in step one. The third step requires that managers establish moral intent. The fourth requires companies to engage in ethical behavior. The fifth step is the requirement that business audit its decisions, which includes reviewing them to be assured that they are consistent with the ethical principles listed in the company's code of ethics.