This review paper explores the intricate balance between profit, social responsibility, and environmental stewardship in ethical supply chain management (ESCM). It highlights the challenges businesses face in integrating ethical practices within their supply chains, particularly the conflict between profitability and ethical imperatives. The paper proposes a multifaceted approach to navigate these complexities, emphasizing best practices, adherence to policies and regulations, and leveraging technology and innovation. Key areas of focus include sourcing, labor practices, and environmental impacts. The paper also discusses the importance of ethical considerations in enhancing corporate sustainability, competitiveness, and stakeholder trust. Recommendations for businesses and directions for future research are provided to further the understanding and implementation of ethical supply chain management strategies that benefit both businesses and society.This review paper explores the intricate balance between profit, social responsibility, and environmental stewardship in ethical supply chain management (ESCM). It highlights the challenges businesses face in integrating ethical practices within their supply chains, particularly the conflict between profitability and ethical imperatives. The paper proposes a multifaceted approach to navigate these complexities, emphasizing best practices, adherence to policies and regulations, and leveraging technology and innovation. Key areas of focus include sourcing, labor practices, and environmental impacts. The paper also discusses the importance of ethical considerations in enhancing corporate sustainability, competitiveness, and stakeholder trust. Recommendations for businesses and directions for future research are provided to further the understanding and implementation of ethical supply chain management strategies that benefit both businesses and society.