Business ethics is regarded as a useful means to gain a competitive advantage. Failure to recognize and address ethical problems can lead to very substantial costs. Being unethical can cost a business its very life. Ethical business is good business in the long-term. There are different motives for companies to undertake pro-ethical action. For example, It’s it is in a company’s interest, that companies’ managers are honest; stakeholders expect such actions and/or the law requires it. This article contains the results of research concerning Slovak students’ opinions on competition between ethical and unethical companies and the motivations for deciding to undertake pro-ethical actions.