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Conoco was a large, vertically integrated, global energy company commited to using its ethical culture as a strategic asset. To emphasize this commitment to business ethics as a core value, Conoco''s President, Archie Dunham, established the Annual President''s Award for Business Ethics. After reviewing the award criteria and process, the reader is invited to join the award team''s discussion of five individuals and groups nominated for the first award. These employees faced a variety of ethical challenges in different company divisions - domestic, foreign, and joint venture, exploration, production, refining, and retail. The reader can: (1) consider the purpose and effectiveness of the award; (2) question how extraordinary behavior should be defined; (3) discuss organizational structures that block ethical actions; (4) evaluate the corporation''s emphasis on ethics as a competitive advantage; and (5) compare recommendations with the team on who should receive the award.