Module 2 focuses on applying classical ethical theories to contemporary ethical challenges in business, particularly in information technology. Traditional ethical frameworks, including stockholder, stakeholder, and social contract theories, guide ethical decision-making processes, emphasizing the importance of balancing various stakeholder interests and fulfilling societal obligations. The document outlines structured approaches for ethical analysis, including Reynolds' seven-step method and Kidder's nine steps, to aid IT professionals in addressing ethical dilemmas while ensuring compliance and promoting ethical conduct.