We develop a model that implements generic discourse and business ethics proposals for the concrete purpose of ethical digital business strategy (DBS) development. The model’s objective is to outline how DBS initiatives with the potential to affect the wider society can be developed and justified considering economic, ecological, and social criteria, based on a consensus among the relevant stakeholders. We evaluate the model on the grounds of a two past DBS initiatives that were reported in the media to be controversial due to a lack of stakeholder consensus. With the model, we contribute a pragmatization of the business and discourse ethics literature for the IS discipline that covers the time before actual IS design and development decisions take place. Business and IT executives in practice can draw on the model to guide their DBS processes along ethical lines.