Education in general has always been seen as a vehicle of social transformation and socio-politico-cultural-economic dynamics. Powerful, knowledge society of India need good quality education in 21st century. It has been said politics without principles, business without morality, education without character are equally dangerous for our country. Today the whole world is passing through corporate chaos such as Satyam Infotech, 2G spectrum allocation scam, Vyapam scam, Coal-gate and institutional conundrum such as suicide of students, sexual harassment of teachers and students, exploitation of employees etc are to name a few. It is often reported that a few unprincipled people are always behind such scams and incidents. It is in this context ethical issues in school educational management has been conceived so as to give respite to present debacles. According to [8] ethics in teaching of higher education cover: content and pedagogical competency, fair assessment, respect to stakeholders, professional conduct, student development, reasonable pay, perks and leaves, avoidance of dual relationships, counselling to students and parents and involvement in community development.The paper highlights the urgency of ethical practices in school education and offers pragmatic solutions such as : Emphasis on vision & mission of school, do’s and don’t do’s for educational managers, use of affirmative language, ethical documentation & dissemination. Institution of IQAC & ethics committee in school, enforcing POCSO act 2012, following “W-A-T-C-H” Model, Ethical performance appraisal / promotion and reward and conflicts management etc. By managing man ethically (method) money, materials’, machines and market can be conquered with the help of quality education.