After the fall of communism in 1989, business ethics emerged only modestly among academics and some enlightened business representatives, as initiatives of this kind did not resonate in the political sphere. In the first part, the paper presents three approaches developed in Czech academia: The second part characterizes the main features of business and public sector practices and their development over the past 30 years. The ambition of the Czech Republic to join NATO, the OECD, and European Union required the initial country-specific approach to be aligned with international standards and framed by the European integration process. Nevertheless, there are indications that some differences still exist in the current business climate resulting from the institutional framework, tradition, and culture. Empirical research supports this part.