The objective of this study is to understand where MBA (PGP) students stand on ethical issues. The study was driven by a need to understand the students better so as to be able to design courses on business ethics and human values more effectively. In the context of an increasingly competitive environment for admission to top business schools like the IIMs, being able to keep track of the changing ethical values and beliefs of our students will also be of use in other aspects of programme design. A questionnaire to measure "Perceptions and Attitudes about Business and Society" consisting of 37 items and 17 items on "Religious and Spiritual Beliefs" was developed for this study. The questionnaire was administered to 175 first-years students and 146 second-year students of HM Bangalore. It was also administered to 51 students of a private management institution affiliated to Bangalore University.