The main purpose of the study is to examine various ethical decision-making models based on Dual Process Theory (DPT) and to determine the features of their application in business management. Systematization of the literary sources and approaches for solving the problem of managerial decision-making indicates that despite a significant number of data publications, the issue of the implementation and effectiveness of ethical models is poorly researched and requires a more detailed analysis. The object of research is secondary data contained in scientific articles published in journals. The paper examines the social-intuitive-emotional context of the ethical decision-making process, which can help understand the management context of these models. The results of the empirical analysis of the features of the use of the Social-Intuitionist (S-I), Cognitive-Intuitionist (C-I), and Cognitive-Affective models (C-A) models in the decision-making process proved the existence of significant differences between them. The methodological tools of the research were the theories of emotion and intuition, as they directly relate to the “Integrated Ethical Decision Making” (I-EDM) model, which is the most practiced in the actual business setting. The article proposes a conceptual integrated R-S-I-E Ethical Decision-Making model, which can be used in testing theoretical research questions and hypotheses related to business ethics. This model considers individual factors, personal moral philosophy (deontology, teleology), and the moral intensity managers feel during a moral dilemma. Based on the research results, the consequences of overcoming the gap between the existing theoretical developments on these issues and the peculiarities of the decision-making process in practice are summarized. The research results can be used in the empirical evaluation of ethical models in different cultural conditions (including India) and be helpful for the management of companies in making ethical decisions.