Whether teaching organizational behaviour, business and society, business ethics, human resources management, or general management, educating management students involves providing frameworks to approach ethical issues and dilemmas. Traditionally, these come from Western philosophy and psychology and are based on Aristotle, Kant, Hume, Locke, Mill, Rawls, MacIntyre, Kohlberg, Noddings, and Gilligan. Some of these frameworks focus on processes or methods of making decisions or taking action, whereas other approaches are concerned almost exclusively with the consequences of actions and decisions.

Discuss the theory of ethics and the application in the business context based on the above statement.