Identification of a place of managerial ethics in the system which regulates business activities on the market today is an important task. Culture has always been a part of the economic activities. Social conditions remain unchanged, regardless of the business opportunities. To understand the influence of a socio-cultural complexity on success of the company cooperation between an employer and employees, the staff in general, is needed. Determination of a value system becomes a priority while communication, as well as during negotiations. It allows to assess business ethics on the basis of different cultures. Moreover, it will help to solve problems at the international level. In the twenty-first century, ethical management is the requirement for managers to achieve excellence and organizational effectiveness.