The relationship between spiritual well-being and ethical orientations in decision making is examined through a survey of executives in organizations listed on the Australian Stock Exchange. The four domains of spiritual well-being, personal, communal, environmental and transcendental (Fisher, Spiritual health: its nature and place in the school curriculum, PhD thesis, University of Melbourne, 1998; Gomez and Fisher, Pers Individ Differ 35:1975–1991, 2003) are examined in relation to idealism and relativism (Forsyth, J Pers Soc Psychol 39(1):175–184, 1980). Results reveal that spiritual well-being, in particular the communal domain of spiritual well-being, is correlated with and predictive of idealism. However, the relationship between spiritual well-being and relativism is weak. Implications of the study are discussed in terms of developing managerial programs that enhance communal well-being which should lead to greater idealism in decision making. Limitations of the study and future research opportunities are outlined.