Organizations active in an environment of increasing internal and external diversity and change need the guidance of suitable moral values. This implies many challenges. However, focus on processes is unavoidable and necessary. Particularly, regarding ethical aspects this is the only possible way for the construction and applicationof right values. In achieving that, skills and processes are very helpful because they provide a good base for the promotion of personal and organizational ethical competence, a competence referring to the ability using the right ways to handle ethical issues and which is not constrained by normative aspects. Since it is not possible to create moral values once and for all, in the diverse and changing conditions of today, continuous moral value creation and interpretation is the only way. Consequently, the focus must be on the process itself, and on the skills and structures behind this process, i.e. on personal and organizational ethical competence. Ethical competence is therefore a virtue.