Senior High School

Business Ethics and

Social Responsibility
Second Semester – Module 4
Philosophies Influencing our
Business Practices
 COPYRIGHT 2021

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Development Team of the Module

Writer: Cesar E. Algerre, Jr.

Editors: Jessel Lou M. Cinco; Doreen N. Lictag, Chorazine L. Sulima
Reviewer: Krystel Grace L. Calderon
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 Senior High School

Business Ethics and

Social Responsibilities
Second Semester – Module 4
Philosophies Influencing our
Business Practices

3
Introductory Message
For the facilitator:
Welcome to the Business Ethics and Social Responsibility Self-Learning
Module on Philosophies Influencing Our Business Practices.

This module was collaboratively designed, developed and reviewed by

educators both from public and private institutions to assist you, the teacher or
facilitator in helping the learners meet the standards set by the K to 12 Curriculum
while overcoming their personal, social, and economic constraints in schooling.
This learning resource hopes to engage the learners into guided and
independent learning activities at their own pace and time. Furthermore, this also aims
to help learners acquire the needed 21st century skills while taking into consideration
their needs and circumstances.
In addition to the material in the main text, you will also see this box in the body
of the module:

Notes to the Teacher

This contains helpful tips or strategies that will help

you in guiding the learners.

As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing them to
manage their own learning. Furthermore, you are expected to encourage and assist
the learners as they do the tasks included in the module.
For the learner:

Welcome to the Business Ethics and Social Responsibility Self-Learning

Module on Philosophies Influencing Our Business Practices.
This module was designed to provide you with fun and meaningful opportunities
for guided and independent learning at your own pace and time. You will be enabled
to process the contents of the learning resource while being an active learner.

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 Philosophies Influencing our
Business Practices
CONTENT STANDARD
The learners demonstrate an understanding of the Philosophies Influencing Our
Business Practices.

PERFORMANCE STANDARD
The learners can identify the classical philosophies and their implications for
business principles and practices.

LEARNING COMPETENCY
The learner illustrates how these philosophies are reflected in business
practices.

LEARNING OBJECTIVES
At the end of this lesson, the students should be able to:
1. identify the classical philosophers and their philosophies;
2. illustrate how certain p h i l o s o p h i e s a r e r e f l e c t e d in business
practices;
3. relate the topic into real-life experiences; and
4. demonstrate learning by presenting your own works.

INTRODUCTION

In this time of the pandemic, businesses struggle to stay afloat with limited
customers and scarcity of supplies, business owners are facing enormous
challenges to make their business model relevant to the changing demand of the
populace under pandemic. Under threat of economic downturn, the government has
been forced to open up some business sectors, some are in full capacity while a
better part of the businesses is either half or limited capacities only.

With the limited opportunities, business owners are eager to get back into
action, while some have already a thriving operation during and after the lifting of
restrictions, some are playing catch-up. In these trying times, it is rightful to say that
companies can learn from the techniques used by Greek philosophers to achieve
business success. As you go through this module, you will learn about the classical
philosophies for best business practices and how to keep your business on its feet
before-during-after a pandemic.

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PRE-TEST

Directions: Match column A sentence with the quotation in column B. Write the
corresponding letter on the blank space provided after the sentence.

A B
Ex. On the importance of education “It is better to be unborn than uneducated,
for ignorance is the root of misfortune.”

1.On the importance of hard work. A. ”Life must be lived by play”

______
2.On doing things to the best of your B.” Courage is knowing what not to fear.’
ability _____
3.On enjoying your work. ______ C. ”Necessity is the mother of invention”

4.On self-awareness _______ D. ”We can easily forgive a child who is

afraid of the dark; the real tragedy of life is
when men are afraid of the light”

5.On acting on your ideas ______ E.” Better a little which is done well than a
great deal that is done imperfectly.”

F. ” People are like dirt. They can either

6.On finding good strategies _____ nourish you and help you grow as a
person, or they can stunt your growth and
make you wilt and die.”

7.Making logical decisions _____ G. “I never did anything worth doing by

accident, nor did any of my inventions by
accident; they came by hard work.”

8.On having the courage _____ H. ” Ideas are the source of all things”

9. On leading by example _____ I. ” For a man to conquer himself is the

first and noblest of all victories”

10.On meeting a consumer need J. ” As there are misanthropists or haters

______ of men, so also are there misologists or
haters of ideas.”

11. On motivating a team _____ K. ” There is no harm in repeating a good

thing”

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12.On ignoring the haters _____ L. ” Good actions give strength to
ourselves and inspire good actions to
others”

13.On facing your fears _____ M. ”A good decision is based on

knowledge and not on numbers”

14.On honing your skills _____ N. “Never discourage anyone who

continually makes progress, no matter
how slow

15.On surrounding yourself with the O. “Excellence is not a gift, but a skill that
right people ______ takes practice. We do not act rightly
because we are excellent, we achieve
excellence by acting rightly

REVIEW OF THE PREVIOUS MODULE

Directions:
Analyze and discuss based on the scenario in its opposite box, explain by
writing on a separate sheet of paper.

Business Scenario Discussion

An employee realized that he gave a shortchange to a
customer who already left the store premises. The right
change is 694 pesos, but he only gave 194 pesos.
Discuss what business ethics issues present in this
situation. What can be done?
A pregnant employee who violated several attendance
rules due to her physical conditions. She is about to get
fired by the HR manager of the company. Discuss what
business ethics issues present in this situation. What
can be done?
A homeless who found shelter and comfort within the Mc
Do Store perimeter or premises. Some customers
complained about the smell. Some give him food to eat.
Discuss what business ethics issues present in this
situation. What can be done?

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Drinking s e s s i o n e v e r y Friday night after work
is normal in Company A. Those who join the
drinking session get to have a favor from the
management. Those who don’t join are already
subjected to heightened scrutiny on normal things
that they do in the workplace every day. Discuss what
business ethics issues present in this situation. What
can be done?

PRESENTATION OF THE MODULE

Different strategies exist for differentiating yourself from business rivals. In an

ideal world, a business must have a differentiated product or service that is superior
to those offered by the competitors. However, what if all is equal? As a company, your
core values define you. These fundamental principles develop into the corporate
culture that the team and clients experienced. As a business leader, the foundation of
your business's core principles begins with your own. When your principles are
incorporated into your business philosophy, they become an integral part of the
company culture.

A great part of establishing a good business philosophy can be learned from

the great philosophical minds of ancient Greek thinkers. Their philosophies have
greatly influenced the conduct and the mindsets of our business leaders either in the
ways they deal and treat their clients or how they take good care of their people.

ACTIVITY

Direction: Find the name of 6 classic philosophers who greatly influenced modern
business ethics.

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ANALYSIS

When you take a step back and consider it, you realize how important a well-
defined management philosophy is. Consider the businesses in which you do
business. Most certainly, you want to do business with a company that greets you at
the door and provides you with the best of the best with a smile on their faces. Your
clients are no exception. Many consumers are willing to pay a premium for a product
or service when it comes to a superior customer experience.

The business philosophy needs to be authentic. Your staff will notice that you
write a business philosophy solely to create a catchy sound bite and a conversation
starter with customers. Your customers will see right through a business that touts
high values but has no regard for their needs. For instance, if the code of ethics has a
clearly defined inclusiveness policy but the manager of a department divides his team
into groups out of favoritism, it is obvious that inclusiveness is not a principle he
supports. If those above him in the corporate hierarchy permit it, the inclusive ideology
is seen as presumptuous and can have a detrimental effect on team morale.

Directions: Based on your life’s experiences, cite things/principles you

consider in your decision-making in five aspects below. Write your answers on a
separate sheet of paper.

Example: Contented: Contentment is not having what you want, but being content
with what you have.
1. Love
2. Education
3. Family
4. Friends
5. Money

ABSTRACTION

The Classical Philosophers Philosophies

and Their Implications on Business

1. Socrates (469-399 BCE)- “The Gad-fly at the Marketplace” is one of the

few individuals whom one could say have shaped the cultural and intellectual
development of the world for, without him, history would be profoundly
different. This is Socrates’s philosophical idea:

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 “The unexamined life is not worth living.” Socrates pointed out that human
choice was motivated by the desire for happiness.

Socrates thought of the Entrepreneurs. The Socratic Method is a way of

thinking that allows individuals to define their purpose of learning and exploring its
purpose through open-minded questioning of what they hold to be true. Socrates
insisted on a right to think of ourselves by introducing the philosophical concept, “Dare
to Disagree”.

Too often, he warned, humans sleepwalk through life, simply going along with the
crowd.

This is perilous when it comes to moral issues, and particularly when it comes to
corporate governance. When corruption is exposed, it is all too common for people to
claim that "everyone else was doing it." However, it is up to us to form our characters.
Socrates was willing to die for his convictions. Is your organization supportive of
independent thinkers and those who act in accordance with their consciences? Is it
possible for individuals to provide managers with critical feedback? Is it a way for
decent people to call attention to wrongdoing?

2. Plato – “The Philosopher-King” is one of the world’s best known and

most widely read and studied philosophers. He was the student of Socrates
and the teacher of Aristotle. He wrote in the middle of the 4th Century BCE
in ancient Greece. This is Plato’s philosophical idea:

“Good people do not need laws to tell them to act responsibly, while bad
people will find a way around the laws.”

Plato maintains a virtue-based eudemonistic conception of ethics. That is to say,

happiness or well-being (eudaimonia) is the highest aim of moral thought and
conduct, and the virtues (aretê: excellence) are the requisite skills and dispositions
needed to attain it.

3. Aristotle – “All or Nothing” (384-322 BCE) is a towering figure in

ancient Greek philosophy, contributing to logic, metaphysics, mathematics,
physics, biology, ethics, politics, agriculture, medicine, dance, and theater.
Aristotle was a great biologist as well as a great philosopher. He based his
ethics on a psychological theory of human nature, insisting that we are naturally
virtuous, rational, social and happiness-seeking. Governments and
organizations need to build the best systems to let humans fulfill their natural
drives.

These are some of Aristotle’s philosophical ideas:

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 “Happiness is the meaning and the purpose of life, the whole aim, and end of
human existence.”

“Let people seek fulfillment.”

In ethics, the term "happiness" refers to the Greek term "eudaimonia," which
connotes prosperity and fulfillment. According to Aristotle, this happiness is the
ultimate objective. In terms of company, Aristotle concludes that the leader's task is to
establish an atmosphere conducive to the fulfillment of the potential of all members of
an organization.

Aristotle's ideology influenced Edward Deci and Richard Ryan's Self-

Determination Theory, which asserts that if you assign workers substantive and
morally worthwhile jobs, they can work harder and perform better.

Humans want to believe in and represent something. Appeal to your employees'

best selves, and they will react.

Additionally, the workers would be more inspired if you have opportunities for
them to satisfy their innate curiosity by learning opportunities. This may include
vocational training, but it may also include general education about the environment,
ideas, and culture. Is there an evening or lunchtime lecture series at your business,
such as Google Talks? Could it offer credits for evening adult education courses, as
Cadbury and Ford did in the past?

4. Rufus, on keeping track of one’s ethical progress; Musonius Rufus was

dubbed "Rome's Socrates." He, too, was a Stoic who preached that philosophy
cannot be only theoretical. If you want to be an ethical person or business, you
cannot simply research ethics; you must practice them daily in order to develop
good habits. The ancient Greek term for ethics is synonymous with the term for
habit. (2020, The Guardian)

Additionally, you must track your progress to determine how well you are doing.
You cannot depend solely on your intuitions, as they are often incorrect. Thus, the
ancient Greeks mastered the art of self-accounting. They kept journals of their
everyday behavior, noting how many times they lost their temper or became inebriated,
for example. Then they could determine whether they were really changing their
actions or just traveling in circles. (2020, The Guardian)

In organizational terms, self-monitoring entails attempting to conduct an

evidence-based evaluation of our results. Although we can claim to be a green
business, how do we know if we are making progress? We may claim to be a happy
organization, but how do we know for certain? We can monitor this by asking our

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workers (anonymously) how valuable they believe their work is. Then, after a year,
determine if we have succeeded in increasing their sense of intent. (2020, The
Guardian)

Today, we use a balanced scorecard to monitor our success from the start of
each period to the end.

5. Plutarch, on being a good role model; The ancient Greek historian and
educator recognized that humans are extremely social beings who are
continually observing and imitating their surroundings. (2020, The Guardian)

Unfortunately, children are often surrounded by negative role models. We may,

however, influence people by providing them with more desirable trends to emulate.
That is what Plutarch attempted with his popular novel, Parallel Lives, in which he
sketched the lives of some of the great Greek and Roman heroes – Cicero, Caesar,
Alexander the Great, and Pericles – in order to inspire young people. (2020, The
Guardian)

That is, what you say to your workers is less important than what you do. They
will observe your behavior, how you treat others, how you handle pressure, and
whether you keep your promises. Additionally, they will mimic you. They will follow
your lead if you preach ethics and then cut corners at the first opportunity. Establish a
positive example and they will obey. Plutarch will also warn that your best young
workers would use you as a benchmark for achievement and will strive to surpass you.
That is entirely normal. Allow them to compete with you and motivate them to succeed.
(2020, The Guardian)

6. Epicurus, on the art of happiness; Epicurus was a fourth-century Greek

philosopher who taught, somewhat scandalously, that the purpose of life was
to be as happy as possible on Earth before vanishing into the atomic universe.
He cautioned that humans are notoriously bad at happiness and exceptionally
good at inventing excuses to feel unhappy. Philosophy, he said, should teach
us how to be content. For instance, it can teach us how to focus our attention
on the present moment and savor it. Additionally, it can teach us to restrict our
desires to what is readily available, rather than inflating our needs with an
infinite supply of artificially induced desires. (2020, The Guardian)

Today, several businesses have embraced Epicurus' ideology and are

attempting to instill the art of happiness in their workers. Tony Hsieh, the CEO of
American shoe company Zappos, is so committed to the company's happiness
courses that he sold the company to Amazon with the understanding that the
company's special happy culture will continue. (2020, The Guardian)

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 According to The Guardian author, businesses should exercise caution when
requiring all workers to adhere to a single ideology of the good life. As previously said,
there are several strategies for achieving happiness or welfare. Perhaps businesses
should develop an ethical culture that supports all of these alternative ways of life.
(2020, The Guardian)

7. Epictetus, built a resilient mind-set, Epictetus, cultivated a robust mentality

Epicurus, Epictetus was born in Rome as a slave and later became a Stoic
philosopher. Both of these positions were extremely precarious – slaves could
be tortured or killed by their masters, while Stoic philosophers ran afoul of
imperial authorities on a regular basis (Epictetus himself was eventually exiled).
Epictetus overcame fear by continually reminding himself of what he could and
could not control. Although we have some influence over our feelings, opinions,
and behaviors, anything else is beyond our control – other people's perceptions
and behavior, the economy, the weather, the future, and the past. If you fret
about something that is out of your control, you can feel powerless. Concentrate
about what you can control, and even in stressful circumstances, you can
experience a sense of autonomy.

This insight is now incorporated into the US Army's $125 million resilience
training course, which teaches soldiers the Stoic principle that, even in the face of
adversity, we still have a choice in how we respond. We should develop this resilient
mindset, which will improve our organization's and employees' ability to respond to
crises. The world may be deteriorating, and the economy may be experiencing a
double-dip. Concentrate on what you can do to help, on the practical measures you
can take to make the situation better.

APPLICATION

A. Directions: Based on your life experiences, explain the quotations made by a

philosopher. Write your answers on a separate sheet of paper.

Quotations Explanation
Example
“Pleasure in the job puts perfection Ever walked into an office and seen a
in the work”-Aristotle grumpy employee typing away at her
desk or, maybe called the customer
service department and all you got was
a mean voice responding to your
inquiries? Those are the people who
would rather be elsewhere than doing
whatever they were hired to do. If you
love what you do, you will make sure
that everything runs smoothly because

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 to you it is not just a job, but it is a
passion.
1.” If you accomplish something
good with hard work, the labor
passes quickly, but the good
endures; if you do something
shameful in pursuit of pleasure, the
pleasure passes quickly, but the
shame endures”-Musonius Rufus

2.” Those who aim for great deeds

must also suffer greatly”- Plutarch

3.” Do not spoil what you have by

desiring what you have not.” -
Epicurus

4.” We have to ears and one

mouth so that we can listen twice
as much as we speak.” – Epictetus

5. “Quality is not an act, it is a

habit.” -Aristotle

6. “The wise man will want to be

ever with him who is better than
himself.”-Plato.

POST-TEST

Directions: Match column A sentence with the quotation in column B.

A B
Ex. On the importance of education “It is better to be unborn than uneducated,
for ignorance is the root of misfortune.”

1.On finding good strategies A. ” Better a little which is done well

than a great deal that is done
imperfectly.”

2. On motivating a team
B. ” People are like dirt. They can
either nourish you and help you
grow as a person, or they can stunt
your growth and make you wilt and
die.”

10
3.On ignoring the haters C. ” For a man to conquer himself is
the first and noblest of all victories”

4.On facing your fears D. ” As there are misanthropists or haters

of men, so also are there misologists or
haters of ideas.”

5.On honing your skills E. ” There is no harm in repeating a good

thing”

6.On surrounding yourself with the F. ” Good actions give strength to

right people ourselves and inspire good actions to
others”

7.Making logical decisions G. ”A good decision is based on

knowledge and not on numbers”

8.On doing things to the best of your H. “Never discourage anyone who
ability continually makes progress, no matter
how slow

9.On enjoying your work I. “Excellence is not a gift, but a skill that
takes practice. We do not act rightly
because we are excellent, we achieve
excellence by acting rightly

10.On self-awareness J. ” Life must be lived by play”

11.On acting on your ideas K. ” Courage is knowing what not to fear.’

12.On having the courage L. ” Necessity is the mother of invention”

13. On leading by example M. ” We can easily forgive a child who is

afraid of the dark; the real tragedy of life is
when men are afraid of the light”

14.On meeting a consumer need N. ” Ideas are the source of all things”

15.On the importance of hard work O. “I never did anything worth doing by
accident, nor did any of my invention by
accident; they came by hard work.”

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 12
PRE-TEST
1. G 6. K 11. N
2. E 7. M 12. J
3. A 8. B 13. D
4. I 9. L 14. O
5. H 10. C 15. F
ACTIVITY 1
ARISTOTLE RUFUS
PLUTARCH PLATO
EPICULUS SOCRATES
POST-TEST
1. E 6. B 11. N
2. N 7. G 12. K
3. D 8. A 13. F
4. M 9. J 14. L
5. I 10. C 15. O
ANSWER KEY
REFERENCES

“32.Docx.pdf - CALL TEXT OR WHATSAPP 254728215630 TO RECEIVE THE

SOLUTION TO THIS QUESTIONS ALSO EMAIL
WRITERSQUAD5@GMAIL.COM I CHARGE 15 USD PER PAGE(BT: Course
Hero.” 32.Docx.pdf - CALL TEXT OR WHATSAPP 254728215630 TO
RECEIVE THE SOLUTION TO THIS QUESTIONS ALSO EMAIL
WRITERSQUAD5@GMAIL.COM I CHARGE 15 USD PER PAGE(BT | Course
Hero, 15 Apr. 2021, www.coursehero.com/file/88615361/32docxpdf/.

“Foundation of the Principles of Business Ethics The Classical...” Coggle,

coggle.it/diagram/WiDxGe2npwAB1zf2/t/foundation-of-the- principles-their-
implication-on-business.

Internet Encyclopedia of Philosophy, iep.utm.edu/plato/.

“Plato Quotes.” BrainyQuote, Xplore, www.brainyquote.com/quotes/plato_161536.

“Rufus on Keeping Track of Ones Ethical Progress Musonius Rufus Was Known as
the: Course Hero.” Musonius Rufus Was Known as the | Course Hero,
www.coursehero.com/file/p396llbh/Rufus-on-keeping-track-of-ones-ethical-
progress-Musonius-Rufus-was-known-as-the/.

“What Can Business Leaders Learn from Ancient Philosophers?” The Guardian,
Guardian News and Media, 4 May 2012, www.theguardian.com/sustainable-
business/business-learn-from-ancient-philosophers.

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For inquiries or feedback, please write or call:

Department of Education – Schools Division of Surigao del Norte

Peñaranda St., Surigao City
Surigao del Norte, Philippines 8400
Tel. No: (086) 826-8216
Email Address: surigao.delnorte@deped.gov.ph

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