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I believe you should state your view(s) regarding the statement since the instruction is for you to "react to this statement". In addition, you should provide an example (or examples) from your "work environment" to support your view(s), thus answering the part about "as it relates to your work environment". Sure, you can describe your ethical dilemma but suggest you tailor it to respond to the statement.
Have you tried checking the Businessweek B-school Forum or other related websites for ideas?
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