Identify a single occurrence or issue that you believe significantly impacted the development of business ethics. •Explain why you think ethical behavior in business transactions, including day-to-day operations, is so important. In your explanation, assess these four statements that you may hear: ?People should automatically know right from wrong, so ethics cannot be taught or learned. ?Ethics deals with morality, so it has no place in business. ?Ethics is individual and personal, so it's impossible to develop a standard for a company or organization consisting of a large group of diverse people