The topic of the graduate thesis is "Management and Ethical Business" which will explain absolutely every component of management, the connection between management and ethics and therefore ethical management through the management system. Management generally consists of many definitions while the easiest can be defined as a process and function in enterprises and organizations, which coordinates human efforts to achieve certain goals of the enterprise using the available resources efficiently and efficiently. Management thus has 5 basic functions that help organizations achieve goals, namely: planning, organizing, personnel, leadership and control. Also, in the further theoretical part of the work, the basics of ethics and its management systems will be discussed through managerial activity. Ethics can be defined as a philosophical discipline that studies moral action, i.e. moral action. it is actually a philosophy of morality, which explores the meaning and goals of moral norms, the basic criteria for moral evaluation, as well as the fundamentality and sources of morality in general. In general, ethical action is most important in the system when studying human behavior, which is therefore previously accepted under a certain moral aspect. This graduate thesis brings key elements of management development and ethical management in today's world. The aim of the research part of the paper is to examine the attitudes of respondents about the ethical activity of their managers in companies and to clarify in fact what is really ethical for them.