BUS ETHICS - Module 4 - The Impact of Belief Systems in The Business Setting

Business Ethics and Social Responsibility
Governor Pack Road, Baguio City, Philippines 2600

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
442-2564; 442-8219; 442-8256; Fax No.: 442-6268 Grade Level/Section: Grade 12- ABM
Email: email@uc-bcf.edu.ph; Website: www.uc-bcf.edu.ph
MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos
THE IMPACT OF BELIEF SYSTEMS IN THE BUSINESS SETTING

At the end of this module, learners must be able to:
a. describe various belief systems, their similarities, and differences in relation to the business
setting; and
b. give examples of how belief systems affect business practices.
HOW WORLD RELIGIONS VIEW BUSINESS ETHICS

Judaism, Christianity, Islam, Hinduism, Buddhism, Confucianism, Taoism, and Shintoism are the
world’s major religions. Each has its own organized system of beliefs, ceremonies, and worships and
each offers a prescription for the positive endeavor in both lives and in business.
Religious ethics provides a set of consistent and reasonable statements regarding business. It’s
a different approach that provides new horizons for thinking. Also, in our global world, business means
dealing with people of different religions, and ignoring or misinterpreting religious ethical approaches
can cause serious problems.
1. Judaism: Jewish Business Ethics

Jewish business ethics is a form of applied Jewish ethics that examines ethical issues that arise
in a business environment. It is noted that in the Torah, there are over 100 Mitzvot (613 total)
concerning the fitness of one’s money than concerning the fitness of food. The subject thus receives
an extensive treatment in Rabbinic literature, both from an ethical and a legal point of view.
The general gravity with which business ethics are treated in Jewish thought is illustrated by the
widely quoted Talmudic tradition that in one’s judgment in the nest world the first question asked:
“were you honest in business?”
Treatment of Workers
Jews are obligated to pay their workers on time, strive to pay their workers a living wage, and
“to treat their workers with dignity and respect.”
Not wasting time at work

It is important to steal company time. Employees should avoid spending too much time online
(e.g., Facebook) or another diversion when at their work.
Business Ethics and Social Responsibility Page 1 of 6

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
2. Christianity: Crucial Principles

The Golden Rule
Christianity offers the Golden Rule command. “Therefore all things whatsoever ye would that
men should do to you, do ye even so to them: for this is the law and the prophets.”
Stewardship
Christian businessmen and women are called by God to conduct their business according to
the sacred standard that transcends traditional business ethics. After God created the earth and
everything in it, God appointed mankind to be stewards of the earth. As Christian business
professionals, the Lord has entrusted us with his resources, both physical and financial, to manage
them with care and skill. We honor the Lord in our business by observing and following his principles.
Trust
The Lord desires for us to trust him in everything. That doesn’t mean we trust Him only in our
personal lives. It includes our professional lives as well. To the Lord, there is no distinction between the
two. Christian business professionals depend on the Lord’s leadership for their business. We actively
pursue God’s blessing upon our work by praying and trusting him to provide strategic direction,
resources, and earnings.
Justice
the Lord delights in justice. Therefore, we must conduct business fairly. We must not cheat our
employees. Instead, we pay them fair wages and ensure that their work conditions are appropriate.
Not only is fair treatment a Biblical principle, it is likely to improve business as employees will tend to
work more productively and happily. In the same way that we treat our employees fairly, we do the
same with our clients. Instead of cutting corners on service and prices, we provide exactly what we
promise and we charge what is fair. We only engage in endeavors that are pleasing and
acceptable to the Lord, and we refrain from those that may profitable but may involve sin.
Diligence
The Lord expected us to productively use whatever knowledge and resources He has given to
us, no matter how great or small. Idleness or laziness has no place in the life of a Christian business
professional. Instead, God instructs that hard work is essential in conducting business profitably.
Generosity
The Lord is generous, especially towards the underprivileged. Christian business professionals
go beyond worldly expectations to help the least of society. We do things such as hire refugees or
ex- convicts, open store in unsafe city neighborhoods to reach people with the gospel, and donate
large earnings to charitable organizations instead of reinvesting it in our own organization.

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
3. Islam: Ethics from the Qur’an

Business Ethics for Islam
The Prophet Muhammad emphasized that honestly and kind dealings with customers are the
secrets of success in business. The Prophet gave many teachings on business and economic issues.
He covered almost every aspect of business and economics. Here are only a few major principles of
fair business dealing according to Islam:
• No fraud or deceit, the Prophet is reported to have said: “When a sale is held, say, there is no
cheating”
• Sellers must avoid making too many oaths when selling merchandise. The Prophet said. “The
sale is complete when two parties involved departing with mutual consent.”
• Mutual consent is necessary. The Prophet is reported to have said: “When people cheat in
measures and weights, their provision is cut off from them.” He told the owners of measures
and weights, “You have been entrusted with affairs of which some nations before you were
destroyed.”
• The Prophet forbade monopolies. “Whoever monopolizes is a sinner.”
• Free enterprise, the price of the commodities should not be fixed unless there is a situation od
crisis or extreme necessity.
• Hoarding merchandise to increase the prices is forbidden.
Honesty
Islam requires its adherents to be honest in their dealing with Muslims and non- Muslims alike.
Indeed, honestly is one of the most important moral principles which testify to a Muslim’s devoutness.
The Prophet considers betraying the trust as one of the signs of hypocrisy: “the signs of the hypocrite
are three: when he speaks, he lies when he promises he breaks his promise and when he is entrusted
he betrays the trust.”
Truthfulness
The Prophet said, “The seller and the buyer have the right to keep or to return goods as long as
they have not parted: and if both parties speak the truth and describe the defects and qualities of
the goods, their transaction will be deprived of all blessings.”
He also said, “Be truthful, for truthfulness leads to righteousness, and righteousness leads to Paradise.
A man keeps telling the truth until he becomes known as a truthful person.”
Proficiency
A Muslim, no matter what his occupation may be, must carry out his duties with efficiency and
to the best of his ability, making efficiency his guiding principle in all his endeavors.

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
4. Hinduism
Non- violence
It is estimated that about 950 million of people practice Hinduism, mainly in India. It is the third
religion in the world by a number of believers, behind Islam and Christianity.
Ethical Principles of Hinduism:

• ahimsa (Non- violence),
• detachment (abandonment of the fruits of the action),
• truthfulness,
• not to steal,
• self- control,
• discipline,
• appropriate words and thoughts,
• and motivation to achieve the goal.
Karma (action) is one of the salient features of Hinduism and the teaching of Gita. Thus, a person has
the right to do his karma but not to think of its fruits.
5. Buddhism: Maxims for Business

It is an ancient philosophical system that follows the teachings of Buddha.
Work Hard, No Excuses

“Too cold, too hot, too late: can always be the excuses to those who do not want to work.
They let their chance pass by.
This short aphorism is a reminder of two things: 1) opportunity favors the hard worker, and 2)
those with a lackluster work ethic are always going to find an excuse. Whether you have a stellar
commitment to productivity, or you are just looking for a reminder that your hard works matters
personally, this is a good maxim to remember. And if you’re the type who always has an excuse, you
can bet the opportunities can pass you by.

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
Work Hard but Rest Well

“None can live without a toil” and a craft that provides your needs is a blessing indeed. But if
you toil without rest, fatigue and wariness will overtake you, and you will be denied of the joy that
comes from the labor’s end.
This maxim, from the Dhammavadaka, is perfect for those in business, and a good reminder
you can send to your favorite workaholic. It is true that life would not be so full without work, and it’s
always nice to read an ancient passage reminding you to be grateful for your work and to get
sufficient rest. One of the values of practicing Buddhism is a focus on centering and balance, and
this passage is telling you it’s OK to enjoy the fruits of your labor.
Be Mindful
“You will always be getting praise and blame, but do not let either affect the poise of the
mind: follow the calmness, the absence of pride.
The Buddhism practice of mindfulness can be a key to good business, reducing supply costs
and increasing your potential to work with compassion. The saying from the Sutta Nipata, instructs the
mind and heart to be balanced, objective and mindful of the fog of pride.
Remember to be calm, and not to obsess too much about positive or negative feedback. If
you do a job long enough, you are bound to have great moments of achievements, as well as great
moments of failure.
Follow the Eightfold Path:

1. Prajña Ditthi (Right Understanding)
– seeing reality unfiltered, and as it actually exists.
2. Prajña Sankappa (Right Thought)

– the purifying wisdom and intention of harmlessness
3. Sila Vaca (Right Speech)

– saying the truth, practicing non- harm in your speech patterns
4. Sila Kammanta (Right Action)

– non- harmful action (applies to self and others)
5. Sila Ajiva (Right Livelihood)

– commitment to non- harming life
6. Samadhi Vayama (Right Effort)

– seeking the mindful discipline to improve oneself constantly and over time
7. Samadhi Sati (Right mindfulness)

– awareness of reality and freedom from temptations, cravings, and distractions
8. Samadhi Samandhi (Right Concentration)

– proper concentration
Discover your World

“Your work is to discover your world and then with all your heart give yourself to it.”
Serve Others
“The most valuable service is one rendered to our fellow humans,” This adage tells you that
your work is valuable only in as much as it helps other people.

Tel. Nos.: (+6374) 442-3316, 442-8220; 444-2786;
Be at Present
“Do not dwell in the past, do not dream of the future, concentrate the mind on the present
moment.” Living in the present is of utmost important, and it can definitely help you in your work.
References:
• Ariely, D. (2009). Predictably Irrational: The Hidden Forces that Shape our Decisions. Revised
and expanded edition. New York: HarperCollins Publishers.
• Ferrell, O., Fraedrich, J., and Ferrell, L. (2017). Business Ethics: Ethical Decision Making and
Cases. 11th ed. Boston: Cengage Learning
• Padilla, R. (2016). Business Ethics and Social Responsibility. 1st ed. 168 D. Jorge Street, Pasay
City, Philippines: JFS Publishing Services.
• https://www.qcc.cuny.edu/socialsciences/ppecorino/intro_text/Chapter%208%20Ethics/Utilitar
ianism.htm#:~:text=There%20is%20a%20difference%20between,following%20a%20rule%20of%2
0conduct%20.

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Business Ethics and Social Responsibility

Governor Pack Road, Baguio City, Philippines 2600

MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos

THE IMPACT OF BELIEF SYSTEMS IN THE BUSINESS SETTING

HOW WORLD RELIGIONS VIEW BUSINESS ETHICS

1. Judaism: Jewish Business Ethics

Not wasting time at work

Business Ethics and Social Responsibility Page 1 of 6

MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos

2. Christianity: Crucial Principles

Business Ethics and Social Responsibility Page 2 of 6

MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos

3. Islam: Ethics from the Qur’an

• The Prophet forbade monopolies. “Whoever monopolizes is a sinner.”

• Hoarding merchandise to increase the prices is forbidden.

Business Ethics and Social Responsibility Page 3 of 6

MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos

Ethical Principles of Hinduism:

5. Buddhism: Maxims for Business

Work Hard, No Excuses

Business Ethics and Social Responsibility Page 4 of 6

MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos

Work Hard but Rest Well

Follow the Eightfold Path:

2. Prajña Sankappa (Right Thought)

3. Sila Vaca (Right Speech)

4. Sila Kammanta (Right Action)

5. Sila Ajiva (Right Livelihood)

6. Samadhi Vayama (Right Effort)

7. Samadhi Sati (Right mindfulness)

8. Samadhi Samandhi (Right Concentration)

Discover your World

Business Ethics and Social Responsibility Page 5 of 6

MODULE 4 – BUS ETHICS Subject Teacher: Kenny Jones A. Amlos

Business Ethics and Social Responsibility Page 6 of 6

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