Business Ethics and Social Responsibility

2021-2022
Fourth Quarter
 COVERAGE OF THE SUBJECT-4th QUARTER

• Implication of Religion & Belief in

Business Practices
• Tools in Assessing Business Situation
• Setting Clear Goals
• Developing a Plan for Implementing
Strategies
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices

Religion highly affects our lives, whether personal or

not. Some of the world’s major religions are
Christianity, Judaism, Islam, Buddhism, and Hinduism.
Each has its own organized system of beliefs,
ceremonies, and worship, and each one offers
prescriptions for a positive effort in both life and
business.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices
1. CHRISTIANITY. The Christian religion follows the Hebrew Bible by taking a positive
view of physical and human creation and by seeing God as deeply concerned with the
ethical behavior of human creatures towards one another. It also teaches that in the
person of Jesus of Nazareth, Christ entered history to redeem humanity from the self -
inflicted wounds of sin and to create a new age in which humanity will come to live God's
own life of love, peace, unity and justice. The Old and the New Testaments serve as the
foundation of this religion. In Christianity, human dignity and concern for people are
crucial. This religion also emphasizes a sense of justice in business such as:

 strict adherence to contracts

 compliance with regulations
 working for the benefit of the common good
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices

Christians ought to focus on how business impacts individuals,

the workers in particular. They should be well-paid and they
should find their work meaningful and inspiring. Christians
should be transparent and honest with their dealings, products,
and services. They should not push people to buy goods or
services because it does not reflect the heart of the Father, but
that of mammon’s (according to Webster Dictionary, mammon
means material wealth or possessions especially as having a
debasing influence).
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices

Christian Business Practices:

• A trading Christian does not try to win another's products or services for
less than it is worth.
• One should not want to get a decent deal for his own wares by using
extortion.
• If a person buys from a poor seller, that buyer must exercise charity and
justice.
• He/she must pay the full price that the goods are worth.
• If friends and relatives are not interested in what a Christian vendor sells,
the latter should not break off connection with them when they decided
to choose differently.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices
2. JUDAISM. Jews believe there is one God, who not only created the
world, but who every Jew should have an intimate and interpersonal
relationship with. They believe that God works continuously in the
world and affects all that people do. Further, there is a covenant
relationship between God and the Jews in exchange for the many
good deeds God has done for the Jewish people and continues to do.
Judaism, which for its written law relies on the Torah, has greatly
influenced marketing and business ideology. Jewish culture, values
and ideas, including the modern market, have penetrated many
aspects of modern life.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices

Judaism Business Practices:

* Honesty on the market. It is illegal for traders to falsify the weight and measurement
of the goods or products.
* Fair pricing. There should be good value for money. You shall not cheat each other
when you sell something to your neighbor or buy something from him or her.
Likewise, if a person is ignorant of the true worth of an item and wants to sell it,
the buyer should not take advantage of the confusion and underpay the seller.
The Talmud (comprehensive written version of oral laws of the Jews) cares much
about price control.
* Business relations. Employers are obligated to pay workers on schedule. One of the
guiding principles for business ethics highlighted in the Jewish tradition is the
legitimacy of business activity and profit, conducted within a framework of
religious and ethical norms.

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

 2nd Quarter- Output #1
OUTPUT 2ndQ#2

Differentiate Christianity from Judaism in terms of:

a. Personal & Social Belief
b. Tradition
c. Business Ethics

2nd Quarter- Performance Task #1

How does your religion influence and motivate you as:
a. As a private Individual
b. As a student
Implication of Religion & Beliefs in Business Practices
3. ISLAM. Muslims believe in the Oneness of God—- that all things are
created by God and that He is all-powerful and all-knowing. They
further believe that God has no offspring, sex, class, body, and He is not
affected by human life's characteristics.
For Islam, the source of rules is the Qur'an. Islamic teachings
place great emphasis on respect for ethical and moral codes in human
behavior. Islamic principles prevent abusing people through putting
restrictions on misleading advertisements. Under Islamic law, if a seller
sells an item by making false statements, the buyer shall have the right
to cancel the transactions.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
 Implication of Religion & Beliefs in Business Practices

The following principles (according to Hayes 1998) are expected among Muslim businessmen:
a. Contracts must be fair to both or all parties.
b. Speculation, such as gambling, is not allowed. If the money comes from the gambling
industry, one will not be allowed to invest in the Islamic Mutual Fund.
c. Interest is prohibited. It is the most common thing identified with Islamic Finance.
One moral practice is that one is not allowed to charge or take interest.
d. When a business is in trouble, compassion is required. In every country that has Islamic
traditions in its legal system, when anyone is in bankruptcy or is suffering financial
reversals, one should not put pressure on them. Because when someone is down, it is
not the right thing to do. When they are down, one does not kick them.
 
Muslims also believe that business should be conducted in accordance with the rules of nature which God
governs.
 

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

Implication of Religion & Beliefs in Business Practices
4. BUDDHISM. Founded on the teachings of Siddhartha Gautama, who is
called “Buddha” or “the enlightened one”, is Buddhism. From the
beginning, the basis of Buddhist practice was meditation and the
observance of moral precepts. The five fundamental moral precepts
practiced by members of the monastic orders and the laity are:
• refraining from taking property
• behaving unchastely
• speaking wrongly
• Stealing
• drinking intoxicants
 

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

 Implication of Religion & Beliefs in Business Practices

In business, Buddhists are guided by the following principles:

a. The goals should be defined. The clearer the goal is, the easier it is to be defined. Is it
about gain? Is it giving satisfaction to your customers?
b. The principle of cause and effect should be followed, using intuition in the case
of a business proposal to work out the factors that would take to the ultimate aim.
The process resembles reverse engineering, tracing back the logical sequence of acts
which would contribute to a given goal. This framework helps identify the steps needed
to accomplish the aim and provides a clear basis for a project roadmap.
c. Empathy and compassion for the customers have to be developed. There is a need to
recognize and always keep in mind the problem that target customers have in their life
and try to solve this issue in the best possible way based on that understanding.
Compassion is the basis for a customer-first or a user-centered approach in business.  

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

Implication of Religion & Beliefs in Business Practices

In business, Buddhists are guided by the following principles:

d. Be flexible, innovative, and mindful of impermanence. Buddhist theory puts into practice
another useful insight: everything is constantly changing—we ourselves, the world,
and all the people around us. It is very easy to get caught with an idea that seems
logical and solid, but it often becomes a trigger for narrow-minded thinking,
stubbornness, and inflexibility in a rapidly changing reality.
e. Your team, yourself and the consumer have to be respected. The Buddhist ethics is based
on the non-violence principle. They know everyone deserves to be happy and does not
want to struggle. If we base our actions on that understanding and try not to harm
others, we gain their respect and confidence. It brings trust and understanding in the
team if we respect our colleagues. We try to stop doing something offensive behind or
in front of people and make ourselves transparent.

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

Implication of Religion & Beliefs in Business Practices

In business, Buddhists are guided by the following principles:

d. Be flexible, innovative, and mindful of impermanence. Buddhist theory puts into practice
another useful insight: everything is constantly changing—we ourselves, the world,
and all the people around us. It is very easy to get caught with an idea that seems
logical and solid, but it often becomes a trigger for narrow-minded thinking,
stubbornness, and inflexibility in a rapidly changing reality.
e. Your team, yourself and the consumer have to be respected. The Buddhist ethics is based
on the non-violence principle. They know everyone deserves to be happy and does not
want to struggle. If we base our actions on that understanding and try not to harm
others, we gain their respect and confidence. It brings trust and understanding in the
team if we respect our colleagues. We try to stop doing something offensive behind or
in front of people and make ourselves transparent.

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

Implication of Religion & Beliefs in Business Practices

The Buddhist business code and professional ethics are also

closely tied to being environment-friendly. Buddhists pursue the
"right livelihood" and are usually against businesses that do not
really care for the environment or harm animals. Essentially,
according to Buddhist teachings, the principles of ethics and
morals are governed by examining a certain action that must
avoid any harm.

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

Implication of Religion & Beliefs in Business Practices

5. HINDUISM. Hindus believe in one true, formless, boundless,

all-inclusive and eternal God called Brahman. He is not an
abstract concept but a real entity that everything in the universe
(seen and unseen) encompasses.
Hinduism is not an organized religion, and its value system
has no single, systematic approach to teaching nor do Hindus
have a simple set of rules, like the Ten Commandments to follow.
Whatever practices (local, regional, caste and community-driven)
—throughout the Hindu world influence the interpretation and
practice of beliefs.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
Implication of Religion & Beliefs in Business Practices

Hindus have a positive attitude towards

business and wealth creation, yet wealth
is not the ultimate goal. What is more
important are ethics (dharma), and
salvation (moksha).

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

Implication of Religion & Beliefs in Business Practices

Business Principles of Hindus:

• For business, prices and profits should be fair.
• Tax system should give reasonable rates, should be
economical in its implementation, and should not have
adverse impact on economic growth.
• There must be high taxes on luxury goods.
• Workers should receive fair and just wages, depending
on their ability and productivity.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
 2nd Quarter- Output #2
OUTPUT 2ndQ#2

Differentiate Islam, Hinduism and Buddhism in terms of:

a. Personal & Social Belief
b. Tradition
c. Business Ethics

2nd Quarter- Performance Task #2

How does your religion influence and motivate you as:
a. As a member of your family
d. As a member of the community
 TOOLS IN ASSESSING BUSINESS SITUATION
•SWOT-analysis — helps you identify your business' strengths,
weaknesses, opportunities, and threats.
• Benchmarking — measures your business’ performance against
similar-sized businesses in your industry.
• Market research — investigates your business' market and industry
to identify trends, changes, & customer/client demands.
• Trend analysis — uses business data collected over time to identify
consistent results or trends.
• Webinars (web-based seminars) — provide useful information to
help develop your business skills.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
 SWOT ANALYSIS
S Strengths W Weaknesses
•Advantages •Disadvantages
•Experience, knowledge •Gap in experience, knowledge
•Unique characteristics •Financial aspects
•Geographical advantage, location •Reliability and trust
•Resources, Competence, capabilities •Loss of key staff
•Quality, reputation •Geographical factors

O Opportunities T Threats
•Strategic alliances, partnerships •Loss af alliances and partners
•Product development •Price inflation/deflation
•Import, export •Strong competition
•Innovation and technology development •Competitors new products and innovation
 2nd Quarter- Output #3
OUTPUT 2ndQ#2

Make a SWOT analysis for the City of Talisay

( Group work – 4 members)

2nd Quarter- Performance Task #3

Make a SWOT analysis of your own self. (Determine your strengths,
weaknesses, opportunities and threats)
 SETTING CLEAR GOALS

• Specific — state clearly what you want to achieve.

• Measurable — make sure you can evaluate the success.
• Achievable — check if your objective is something you
have the time and resources to meet.
• Relevant — make sure your objectives improve profit
drivers and improve some part of your business.
• Timely — set a specific date for completion.

DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT

 DEVELOPING A PLAN FOR IMPLEMENTING STRATEGIES
Strategies often include several specific actions or tasks.
•a time frame — how long a task will take to complete as well as the start
and finish dates.
• actions — state the individual actions as precisely as you can.
• responsibilities — assign accountability for each action so everyone
knows precisely what you expect from them and who is
responsible for ensuring the work is done.
• resources — list budget, staff, or supplies needed to complete each
action.
• a desired outcome — state how you will know that the action has been
completed.
DEPARTMENT OF EDUCATION – BUREAU OF CURRICULUM DEVELOPMENT
 2nd Quarter- Output
OUTPUT 2ndQ#2 #4
2nd Quarter- Performance Task #4
What is SMART? Why is SMART necessary in defining a clear goal in business?
Case Analysis: The Case of SM and the Philippine Government
Former Transport Secretary Joseph Abaya said that the government had decided to "ditch SM North EDSA as the common terminal for
the Metro Rail Transit 3 and Light Railway Transit 1" after Hans Sy, son of the late business tycoon Henry Sy and President of SM Prime
Holdings had said that the terminal should not only use North EDSA as the name for the common station, but must carry the symbol of
SM as well. This, after SM had also given the government P200M ($5M) for bragging rights for the station's name. The station would also
serve as the connection to MRT7. The Sy's have recently been cited by Forbes Asia as one of the top philanthropists in the country. "John
Koppisch, senior editor of Forbes Asia, was quoted in the report as saying that they picked only 'true philanthropists who are giving their
own money, not their company’s because donating shareholder funds isn’t charity.'" The magazine cited Sy for donating $7 million to De
La Salle University to build an eco-friendly building and $112 million to an unnamed foundation. Sy is the founder and chairman of the SM
Group of Companies that is engaged in retail, shopping malls, banking, hotels and property development. Many schools and institutions
have buildings named after major donors. UST for example has three buildings named after donors - Tan Yan Kee Building (a donation of
tycoon Lucio Tan), Alfredo Velayo Building (housing the college of accountancy, and the Angelo King Auditorium in the Benavides Cancer
Institute. De La Salle University itself has a whole building donated by the Yuchengco family and is called the Don Enrique Yuchengco Hall.
Ateneo de Manila houses the Eugenio Lopez Jr. Center for Multimedia Communications, John Gokongwei School of Management Business
Accelerator, Ninoy and Cory Aquino Center for Leadership, Ricardo Leong Center for Chinese Studies, Konrad Adenauer Asian Center for
Journalism (ACFJ), and the Governor José B. Fernandez Ethics Center for Business and Public Service. These are but a few examples of
donors whose names have been affixed to what they donate.
(source/reference: taken from the internet for school purpose only)
Argument: Is there something moral and/or legal issue renaming the common station at North EDSA to SM North EDSA? Cite any ethical
standards which you think should be considered in handling the issue.
 
 
END OF FOURTH QUARTER
THANK YOU VERY MUCH!

Bureau of Curriculum Development