Managers are always involved with a variety of issues and they have to make important decisions in order to solve these issues. In fact, decisions are an integral part of management. The decisions of managers in the form of regulations, letters, circulars, and approvals in the organization are the source of action for the staff. Decisions taken by top executives should be fair and equitable for all stakeholders and enhance the organization's trustworthiness. Hence, managers in the decision-making process should observe the ethical framework and have ethical decisions. Today, ethical issues in organizations are interpreted from different dimensions and are attempted to be governed by systematic frameworks under the title of ethical code and ethical management in the organization. In this regard, the present study, by explaining the model of ethical decision making and its dimensions for business managers, outlines the ethical decisions of the philosophical and applied aspects, and the model of ethical decision making commensurate with the principles and rules of science, beliefs and fundamental values.