However, sample responses are provided as suggestions where possible.) 1. Invent and state your own definition of "business ethics." Do you believe that ethics is an important factor in conducting business transactions today? If you were the chief executive officer (CEO) of a corporation, how would you communicate your perspective on the importance of ethics to your employees, customers, and other stakeholder groups? Answer: (example) Business Ethics to apply morally responsible behavior and beliefs to all business decisions'first do no harm." As a CEO, I would communicate the importance of ethics in the company's business dealings by developing a Code of Ethics for the company, establishing an Organizational Ethics Officer, and ensuring that ethics is addressed in some way in virtually EVERYTHING my company does, and that it is presented or discussed in every formal gathering of employees. 13