Given the pervasive influence of Generative AI (GAI) on business and management education, it is essential to understand the competencies teachers need to ethically and effectively use GAI and guide students in its responsible use. To address this gap, we present a holistic competency model of ethical and responsible AI literacy, leveraging the well-known Human Resource Knowledge, Skills, and Abilities (KSA) framework. This model focuses on the KSAs necessary for using and teaching GAI across diverse cultural and educational contexts. Its development is driven by ongoing debates about the urgent need for research into global competencies and pedagogical approaches for teaching ethical AI usage. While numerous AI literacy scales for students include ethics and responsibility dimensions, work on related models for educators is limited. This competency model addresses this gap by highlighting the technical and pedagogical skills required for responsible and ethical GAI instruction. These pedagogical skills include designing curriculum, evaluating learning outcomes, and embedding ethical guidelines within AI-related assignments or projects.