Personal Ethical Development Given the near collapse of the very foundations of the financial sector in the United States, which then quickly metastasized into a financial and economic crisis of global proportions, the ethics and Ethical behavior in doing business and the lack of it has been one of the major factors behind the collapse of mortgage lending. It is therefore even more necessary today for organizations to focus on the personal ethical development of each of their members. This article aims to explore the developmental aspect of a person's ethics, including the importance of ethics and ethical systems. Interestingly, the above observation was also made by Wong and Beckham (1992) almost two decades ago while conducting an autopsy of the failure of several savings and loan financial institutions. Additionally, Wong and Beckham (1992) identified two ethical theories that can guide the development of a person's ethics: 1) utilitarianism and 2) Ross's prima facie duty. In the development of a person's ethical personality, it is possible that ethical decisions are based on whether the proposed action, which is morally right, leads to the greatest benefit/cost ratio. In other words, the action must be of maximum benefit to everyone affected by the decision. On the other hand, the development of personal ethics primarily based on the utility model might result in ethical decisions that are moral, but would not take into account "justice and other principles adopted by society" ( Wong and Beckham, 1992, p. In other words, an individual's ethical character should, at best, be developed from both the utilitarian model and the principles followed by society. According to Rae (2000), an ethical system can be...... middle of article ......ess.Works CitedFear, J. & O'Brien, J. (2009). Where does the responsibility stop? Community attitudes toward excessive lending and excessive spending. Australasian Accounting Business & Finance Journal, 3 (1), 3-12. Josephson Institute (2010). The six pillars of character. Retrieved February 11, 2010 from http://josephsoninstitute.org/sixpillars.html. Rae, S. (2000). Moral choices: an introduction to ethics. Washington: Zondervan. Tetrault Sirsly, C. (2009). 75 years of lessons: values ​​of the CEO and corporate social responsibility. Journal of Management History, 15(1), p. 78.Trevião, L. & Nelson, K. (2007). Managing Business Ethics: Talking Straight About How to Do It Right (4th ed.). New Jersey: John Wiley & Sons. Wong, Al. & Beckham, E. (1992). A system of ethical analysis applied to business. Journal of Business Ethics, 11 (3), 173-178.