Final answer:
Business leaders should act as ethical role models and set an ethical tone in their areas of responsibility by demonstrating integrity, honesty, and fairness. They can establish a code of ethics and lead by example to inspire others to act ethically and create a culture of ethics within their organizations.
Step-by-step explanation:
Business leaders should act as ethical role models and set an ethical tone in their areas of responsibility. They have the responsibility to demonstrate integrity, honesty, and fairness in their decision-making and behavior. By doing so, they inspire others to also act ethically and create a culture of ethics within their organizations.
For example, a CEO can establish a code of ethics that outlines the expected standards of conduct for employees and holds everyone accountable for their actions. They can also lead by example by making ethical decisions in challenging situations, even if it may have short-term negative consequences.
In summary, business leaders have a crucial role in promoting ethical behavior and creating a culture of ethics in their organizations.