4 Ethical Principles in Islam That Can Benefit Businesses

1. Morals
Every action a person engaged in business takes should be guided by
morals. In the Quran, it states that “do good and forbid evil’ (Sura
3:104). This statement is directly linked to morals needed to do
business as it tells us to stick to good and always work towards that.
2.Faith
Everything in life will be there for a given (small) amount of time,
nothing stays forever. The Quran states that “To those who believe
and do acts of righteousness will surely go to paradise” (sura 2:23)
Sometimes businesses suffer hiccups, but faith and hard work will
always get you where you need to be.
 4 Ethical Principles in Islam That Can Benefit Businesses

Intention and Deeds

The heart is the central organ of any human. A decision made from
the heart serves as a motivator to help smooth the process in hand.
Every intention should be able to be guided by Islam and good-doing
as that is the way forward in life.
Character
This is the in-built personal qualities a person poses. It goes along
with being a business minded person. It contains virtues such as
wisdom, modesty, etc.
 Five Ethical Principles of Jainism

1. Non-violence and non-injury to any man and animal

2. Truthfulness
3. Non-Stealing
4. Non-Possession
5. Celibacy (Brahmacharya)
Triple Commandments of Jainism
1. Right Perception (Faith)
2. Right Knowledge
3. Right Conduct
 Ethics of Buddhism
• Buddhism developed in India in the sixth century B.C. and was
contemporary to Jainism. Buddhism is full of ethical ideas and
mysticism.
• Buddha did not believe in the existence of god. He also did not
encourage beliefs in the transcendental dogma.
• His teaching is all about what human beings can experience in
this empirical world.
• Basically, Buddha only taught two things human sufferings and
the cessation of sufferings.
 Standard of Morality in Buddhism

“Whatever joy there is in this world

All come from desiring others to be happy,
And whatever suffering there is in this world
All comes from desiring myself to be happy ”
(Bdh.viii, p.129)
 Ethics of the Bhagavad Gita
According to the Bhagvad Gita, there are three basic paths to get
liberation. These are Bhakti Yoga (the path of devotion), Karma
Yoga (the path of action) and Jnana yoga (The path of knowledge).
These path assist in establishing a direct relationship with god. A
person can follow one path or a combination of all the three to
achieve liberation.
 BHAGAVAD GITA AND MANAGEMENT

"Mind is very restless, forceful and strong, O Krishna, it is

more difficult to control the mind than to control the wind
.........Arjuna to Sri Krishna
One of the greatest contributions of India to the world is
Holy Gita.
• Arjuna got mentally depressed when he saw his relatives
with whom he has to fight.
• To motivate him the Bhagavad Gita is preached in the
battle field Kurukshetra by Lord Krishna to Arjuna as a
counseling to do his duty while multitudes of men stood by
waiting .
• It has got all the management tactics to achieve the mental
equilibrium and to overcome any crisis situation.
• The Bhagavad Gita can be experienced as a powerful
promoter for transformation.
 Management guidelines from the Bhagavad Gita

There is an important distinction between effectiveness and

efficiency in managing.
• Effectiveness is doing the right things.
• Efficiency is doing things right.
The general principals of effective management can be applied in
every field The differences being more in application than in
principal.
Chapter – 1 Visada Yoga
Chapter – 2 Sankhya Yoga
Chapter – 3 Karma Yoga
Chapter – 4 Jnana Yoga
Chapter – 5 Karma Vairagya Yoga
Chapter – 6 Abhyasa Yoga
Chapter – 7 Paramahamsa Vijnana Yoga
Chapter – 8 Aksara-Parabrahman Yoga
Chapter – 9 Raja-Vidya-Guhya Yoga
Chapter – 10 Vibuthi-Vistara Yoga 42
Chapter – 11 Vishvarupa-Darsana Yoga
Chapter – 12 Bhakti Yoga
Chapter – 13 Ksetra-Ksetrajna Vibhaga Yoga
Chapter – 14 Gunatraya-Vibhaga Yoga
Chapter – 15 Purusottama Yoga
Chapter – 16 Daivasura-Sampad-Vibhaga Yoga
Chapter – 17 Sraddhatraya-Vibhaga Yoga
Chapter – 18 Moksa-Opadesa Yoga
Lamenting the Consequence of War
The Eternal Reality of the soul’s Immortality
The Eternal Duties of the Human Being
Approaching the Ultimate Truth
Action and Renunciation.
The Science of Self Realization
Knowledge of the Ultimate Truth
Attainment of Salvation
Confidential Knowledge of the Ultimate Truth
The Infinite Glories of the Ultimate Truth
The Vision of the Universal Form
The Path of Devotion
The Individual and Ultimate Consciousness
The Three Qualities of Material Nature
Realization of the Ultimate Truth
The Divine and Demoniac Natures Defined
The Three Divisions of Material Existence
Final Revelations of the Ultimate Truth.
 Anasakta Karma
Karma yoga is described as a way of acting, thinking and willing
by which one orients oneself toward realization by acting in
accordance with one's duty (dharma) without consideration of
personal self-centered desires, likes or dislikes.
One acts without being attached to the fruits of one's deeds.
Krishna explains that work done without selfish expectations
purifies one's mind and gradually makes an individual fit to see
the value of reason.
He states that it is not necessary to remain in external solitude, or
remain action less, in order to practice a spiritual life, since the
state of action or inaction is primarily determined in the mind.
 Lok Samgraha
According to Bhagavad Gita the highest form of Swajdharma
(one's faith), concerned with a self-less duty towards the rest.
Each individual must discharge his or her duty before passing the
business of maintaining the world on to those who follow.
These duties may collectively be labelled loka-samgraha, which
could etymologically be analyzed as ‘holding’ (from grah, to
grasp) ‘together’ (sam) ‘the world’ (loka), though David Kinsley
translates this as ‘support of the world’ and Tilak as ‘universal
welfare’.
The renunciation or selfishness action done for public good is
called as Lokasamgraha.
 Svadharma
 Sva-dharma means literally "own dharma" and has been translated as "own duty"

and "particular responsibilities.“

 Dharma is derived from the Sanskrit root dhr, "sustain, support, uphold," and has a

wide range of meanings, including truth, cosmic law, reality, righteousness,

correctness, integrity, duty, and caste duty.

 The term Sva-dharma is a brahmanic creation that came relatively late and applies

especially to the meanings of dharma as duty and caste duty.

 Thus it is duty according to one's caste (varna or jati; see Social Castes), one's age

group within the caste, and one's stage of life (asrama).

 Cont.
 This system of social responsibilities is varnasramadharma and the

term is nearly synonymous with Sva-dharma. Every person has

unique duties and responsibilities and this "own dharma" or Sva-

dharma is unique to that person because everyone has different

capacities for righteousness.

 This capacity is determined by one's birth, which is a result of

karma, actions in a previous life.

 Relevance
 The philosophy contained in the pages of the Bhagavad Gita is today
considered relevant and essential to our understanding of ourselves even in the
western world.
 Leading business schools in the USA such as Kellogg have included the
Bhagavad Gita as an elective subject in their curriculum.
 Terms such as ‘Karma Capitalism’, ‘Exit Plan’ and the likes are being
explained on the basis of the teachings of Lord Krishna and the message of the
Bhagavad Gita.
 Cont.
 The theologies based on the Bhagavad Gita as propagated in the
world do not, however, portray the true essence of the words of Lord
Krishna. For example, ‘Karma Capitalism’, a term derived from
Karma Yog, is understood to mean that when one does one’s work
with sincerity, good results follow.
 But Krishna never meant this by Karma Yog. Instead, He said it time
and again that we, the beings, are not the doers of action but all
actions are performed by nature.
 The being who mentally renounces all actions to God, while
performing those actions, is said to be truly engaged in Karma Yog
that unites him to God.
 Conclusion
The message of Bhagavad Gita is that either you can perform your
actions with attachment thinking that you are the doer or you can
perform the same without attachment by thinking that God/ Nature is
performing the actions.
This unattached performance of actions has been called Yagya or
Karma Yog in the Gita. This unattached performance of actions is
the true Karma Capitalism, called Karma Yog in the Gita, which will
not only fulfill all desires but will also transform us and make us one
with God.
The Bhagavad Gita as never before in the modern world has become
more relevant than that at any time in the past.
 MYTHS (TRADITION) ABOUT BUSINESS ETHICS
1. Business ethics is more a matter of religion than
management.
2. Our employees are ethical so we don't need attention to
business ethics.
3. Business ethics is a discipline best led by philosophers and
academics
4. Business ethics is a matter of the good guys preaching to the
bad guys.
5. Ethics can't be managed---Actually, ethics is always
"managed" -- but, too often, indirectly.
6. Business ethics and social responsibility is the same thing.
7. Our organization is not in trouble with the law, so we're
ethical.
8. Managing ethics in the workplace has little practical
relevance
 “Service to Mankind is Service to God”
The term “Service of mankind is service to God”
means that selfless service for the cause of
humanity is as important as worshiping to God.
Love of mankind is, in Vivekananda’s opinion, the
worship of God. This is the gist of all worship is to
be pure and to do well to others.
 Gandhian Ethics
When Gandhi claimed that an individual's "highest duty in life is to
serve mankind and take his share in bettering its condition", he added
that this could not be done unless one understands and respects the
self. True morality, that is, life based on following ethical rules, then,
for Gandhi, consists not in conformity but in discovering the
subjectively true path and in fearlessly following it
 Gandhian Thoughts
Gandhi’s Religion
 Gandhi was born in a Hindu family and was a devout Hindu
throughout his life. However, he was strongly influenced by the
ideas of other religions and had deep interest in comparative
religion.
 He was raised in a Hindu family deeply influenced by Jain
religious ideas (particularly Ahimasa).
 When he visited England to study law.
 he was inspired by Theosophists to learn more about our ancient
texts such as Bhagvad Gita. He spent 20 years in South Africa
working for civil rights over there and devoted himself to study
variety of religious literature.
 On his return to India, he established Ashram for his family and
followers. The Ashrams did not follow any particular orthodoxy.
 His religious virtues

 He believed in oneness of God. He said: “one God is the

cornerstone of all religions.
 His view on Hinduism is also clear, as he said: Hinduism tells
everyone to worship God according to his own Faith or Dharma
and so it lives at peace with all the religions.
 He considered Buddha and Jesus Christ as great moral teachers of
humanity. About Bible he said: ‘Make this world the Kingdom of
God and His Righteousness and everything will be added unto
you’.
 On Islam he said: “Islam’s distinctive contribution to India’s
National Culture is its unadulterated belief in the Oneness of God
and a practical application of the truth of the Brotherhood of Man
for those who are nominally within its fold.”
 Ethical Conduct
Gandhi believed that as human beings, men can never reach the
perfection of divine virtues. Still, they should strive with all their
strength to follow the virtues of truth, love, nonviolence, tolerance,
fearlessness, charity and service to mankind.
Men have to uphold the right, regardless of the personal consequences
they may face. He urged Satyagrahis to adopt to these Virtues.
Truth
Gandhi equated God with truth and designated his religion as
religion of truth. He used to say God is Truth, which he later
changed to “Truth is God”.
Service to Society
Service to the Society was another way in which Gandhi’s
concept underpins his practical actions. He believed that “only
way to see God is to see him through his creations and identify
oneself with it”. This is possible through service to humanity. He
maintained that there is no escape from social service to those in
search of God.
Cleanliness
Gandhi emphasized on internal (mental) and external (physical)
cleanliness. There was no litter or dirt or filth in his Ashrams and
surroundings. He said: “Cleanliness is next to Godliness“. He
advocated moral self-purification.
Ends and Means
Gandhi believed that Men should adopt only good means to attain
noble objectives. As per him: “No good can follow from bad deeds,
even if they are well intentioned.”
Ahimsa
Gandhi’s Ahimsa was not only refraining from killing but also show
love for the whole mankind and all living beings. He believed that
Man can only realize God by pursuing Ahimsa.
Satyagraha
Gandhi’s later work rested largely on a spiritual principle of
satyagraha that he developed while working in South Africa. For
Gandhi, Satyagrahi was the foot soldier of Passive Resistance
Movement.
Doctrine of Trusteeship
Gandhi regarded Rich as trustees of wealth. He said that ultimately all
property belongs to God, the excess or superfluous wealth which the
rich possess belongs to society and should be used for supporting the
poor. Wealthy people have no moral right to what is more than their
proportionate share in national wealth.
 Ethics and Integrity: Contribution by Moral Thinkers-
Kautilya
Kautilya was the shrewdest minister in the court of Chandragupta
Maurya during 317-293 BC.
He has expressed his views on state, war, social structures,
diplomacy, ethics, politics and statecraft in his work Arthashastra.
Kautilya was known for his sharp opinion on each of the four
dimension framework of: war and peace, human rights, international
economic justice and world order.
The work is said to be based on political realism where the state is
considered paramount and the king is bound to carry out all his duties
to preserve the state.
 Kautilya’s Concept of Rajrishi and Its relevance today
[Important]
The concept of Rajrishi envisaged by Kautilya is very important for a good
King. In this concept, Kautilya has identified indicators of good governance.
These indicators are as follows:
 An ideal king must merge his individuality with duties
 An administrator must guide properly.
 An ideal king must avoid extremes without missing the goal.
 The king and public servants must get fixed salaries and allowances.
 The main duty of the king and servants is to maintain law and order. The
losses due to theft and corruption should be made good from kings’ and
his servant’s salary.
 An important duty of king is to carry out preventive and corrective
measures against corrupt officials.
 Another important duty of king is to find replacement of ministers by
good ones.
 Disciplined life with a code of conduct for king and ministers
 Kautilya on Justice
 Kautilya believed that for the prosperity of a state, the state must
be devoid of internal conflict and the King should be in control of
the state.
 To maintain this internal peace he believed in a just and realistic
rule of law.
 His definition of a state was one which had power and wealth and
hence he put property rights and protection of wealth as one of the
important themes in his constitution
 He also favoured the whistleblowers who will be rewarded or
punished on the basis of the correctness of their information.
 With this, Kautilya has given a holistic, multi-dimensional
approach to deal with unethical and corrupt practices for better
administration and greater good of the society.
 Conclusion
Kautilya needs to be looked at from today’s perspective and one can
definitely say that his blind subordination to the social structure is
unacceptable.
The current social structure is dynamic and driven by both political
and economic forces. Kautilya could not advocate any change to this
social structure and in fact, It could be one of the key reasons that
India is still deep rooted in social caste system as no great thinker
ever challenged it.
opinion art of war and diplomacy is still applicable but one needs to
realize that the social structures are changing faster than they did in
earlier times.