Besr 1ST Lesson 4Q

Lesson 2.
Classical Philosophies in Business

Ethics
Business Ethics and Social Responsibility

Accountancy, Business, and Management
1
What causes you to behave in a certain way? How do you
view the world around you?
2
Everyone lives by their philosophies and principles. It defines
who you are and how you live your life.
3
Your philosophy
influences how you
define a problem
and its solutions.
4
Quick Look
My Personal Philosophy
Choose one category found in the word pool. Write a statement that
explains how you view the idea or concept you chose. Provide a one
paragraph explanation on how this statement of philosophy guides you
in your decisions and actions. Use the template on the next slide.
Education Family Friendship

Parents Pets Love
Nature Money Time
Siblings Sports Other: (Specify)
5
Quick Look
Category:
Statement:
Explanation:
6
Quick Look
Questions to Ponder
1. Based on your philosophy statement, what problems or

issues can you identify in the world around you?
2. How does philosophy affect what people think is right and
wrong?
3. What famous and classical philosophy have you heard of?
7
Learning Competency
Compare and contrast classical philosophies in relation to

the business setting (ABM_ESR12-IIIe-h-2.1).
8
Learning Objectives
At the end of this lesson, you should be able to do the following:

● Describe the nature of philosophy and its effects on business
ethics.
● Identify some classical philosophies and its relevance to
business.
● Differentiate classical philosophies from one another.
● Explain the modern adoption of classical philosophies in
business ethics.
9
Are all business activities guided by
philosophies and principles? Is there such a
thing as “unprincipled” actions in business?
10
Classical Philosophies in Business Ethics
● You approach
problems and
challenges according
to your views, beliefs,
and past experience.
11
Classical Philosophies in Business Ethics
● Business people have

different sets of principles,
morals, and values that
affect their decisions and
conduct.
12
The Nature and Branches of Philosophy
Philosophy
● the love for wisdom and knowledge
● seeks comprehensively explain the nature,
meaning, and existence of things
13
Philosophy in Business
● how one views the nature,
purpose of business
● how one approaches its
problems
14
Branches of
Philosophy
Metaphysics Epistemology Axiology
15
● concerned about reality

and existence
○ ontology: nature of
Metaphysics existence and reality
○ cosmology: origin and
structure of the
universe
16
● refers to the nature,

origin and scope of
knowledge Epistemology
○ logic: reason or
discourse
17
● explores the nature of

values
○ ethics: what is right
Axiology and wrong
○ aesthetics: what is
beauty
18
Telescope and Microscope
Closer L
o ok
You can understand philosophy by comparing it to a telescope

and a microscope. A telescope aids you in seeing bigger things,
while a microscope helps you examine the more minor things.
Similarly, you can use your philosophy to understand
significant events, phenomena, principles, and concepts at a
macro level. It is also useful when facing practical problems
and solutions to everyday challenges.
19
Classical Philosophers and Business Ethics
● Many contemporary philosophies branched out and

developed from theories proposed by classical
philosophers.
20
Plato
Socrates
Classical Philosophers
Pythagoras Aristotle
Confucius
21
Socrates (470-399 BC)

● encouraged continuous
wonder, open-minded
questioning, and innovative
thinking
● question the things you
hold true because they are
temporary
22
Socratic Philosophy in
Business
● innovation starts with
playful minds
● think “outside the box”
● do not be afraid to seek
possibilities
23
Plato (428/427-348/347 BC)
● Father of Idealism
● every form has an ideal
image that exists in the
mind
● material existence are
imperfections
24
Platonism in Business
● set the ideal and strive to

achieve it
● business goals must
express an ideal business
25
Aristotle (384-322 BC)
● Father of Realism
● virtue must be achieved by
reaching one’s full potential
as a member of a larger
community
26
Aristotelian Philosophy
in Business
● no dichotomy between self-

interest and greater good
● encourage virtuous acts to
contribute to society
27
Confucius (551-479 BC)
● attain personal fulfillment

through right actions
● “do not do unto others what
you would not want others
to do unto you”
28
Confucian Philosophy in
Business
● if businesses treat others

well, they will be rewarded
● if businesses act badly,
there will be consequences
29
Pythagoras (570-495 BC)
● Founder of Pythagoreanism
● mathematics is the basis of
everything
● every concept on Earth are
represented by numbers,
shapes, lines, etc.
30
Pythagorean Philosophy
in Business
● problems can be identified

and solved by looking at the
numbers
● accuracy in accounting is
vital
31
The Holiday Season
Closer L
o ok
Mr. Reyes is the only supplier of ham in their community. The

holiday season has already started, and ham is one of the most
favorite foods during holiday celebrations. Since Mr. Reyes is
the only one who sells ham, he is planning to increase the price
of ham by up to 20%. But his wife, Mrs. Reyes told him not to
increase the price too high because the majority of their
customers who are locals would not be able to afford it
anymore.
32
The Holiday Season
Closer L
o ok
Mr. Reyes eventually decided to keep the prices of goods low.

His character is virtuous and he chose to be happy in seeing
that the many customers were able to buy his product and
enjoy the holidays.
33
Contemporary Philosophies in Business Ethics
● Contemporary philosophies branched out and developed

from classical philosophies
34
Utilitarianism
Contemporary
Philosophies
Deontology
35
Utilitarianism Deontology
● make the fairest decision ● do what is ethically and

that will benefit the morally right regardless
majority of consequences
36
Utilitarianism
● the disadvantage to a small group is justified if the

good effects outweigh the bad effects
● the end is important
37
Deontology
● it is categorically imperative to treat people with dignity

and respect
● the action is important
38
Weighing the Good and Bad
Closer L
o ok
A chemical manufacturing company plans to relocate its

factories in an underdeveloped country. The said country does
not have the knowledge, technology, and resources to manage
production waste. It could potentially pollute the environment
of the community. However, the relocation would create
massive jobs, raise the community's income, and assist the
transfer of knowledge and technology.
39
Weighing the Good and Bad
Closer L
o ok
During the discussion, utilitarian executives argue that

creating jobs and upliftment of livelihood would be far more
beneficial than the environmental effects, which the company
could manage and mitigate. They propose that the relocation
be done immediately. Meanwhile, executives who uphold
deontological principles maintain that harming the
environment in any way is fundamentally and morally wrong.
They recommend that waste management and disposal be
required before any relocation or operation starts.
40
Utilitarian and Deontological Views on Minimum Wage
Case Stu
dy
In the Philippines, the issue of wage increase and the

implementation of national minimum wage have been hotly
debated for decades. The trade unions and workers federation
are pushing for a significant wage increase on one side. On the
other side are the government authorities and employers
organizations who maintain that a wage increase would be
detrimental to businesses.
Beyza Sümer, “Minimum Wage as An Ethical Issue,” Revistia (European Journal of Multidisciplinary Studies, January-April 2018),
https://revistia.com/files/articles/ejms_v3_i1_18/Beyza.pdf, las accessed February 16, 2022. 41
Case Stu
dy
The arguments for and against wage increase have

philosophical underpinnings. For instance, workers'
organizations arguing for a significant rise explains that the
current living wage is insufficient to afford adequate shelter,
food, and other necessities. For them, it is economically unfair
and morally wrong that companies are gaining profit from the
worker's labor while the laborers themselves have barely
enough to live daily.
Case Stu
dy
On the other hand, those against a significant wage increase

argue that the current rate brings "good for the greatest
number of people." According to employers organizations, a
wage increase will lead small- and medium-sized businesses to
close down and big companies to cut down costs, ultimately
resulting in the layoff of workers.
Case Stu
dy
Deontological views believe that companies must recognize

individual rights, social justice, and ethical duties of
businesses, regardless of whether profit is maximized or not.
Utilitarian arguments emphasize achieving the most
productivity in the most ethical way possible.
Keep in Mind
● Philosophy affects how people see the world around them and create
meaning in their experiences. In business settings, philosophy
influences business organizations' values, ethics, and actions.
45
Keep in Mind
● Classical philosophers provided the foundation for developing

modern and contemporary philosophies applied in business today.
Socrates was concerned with leading meaningful lives through
endless wonder, questioning, and innovative thinking. On the other
hand, Plato emphasized the importance of striving for the ideal.
Aristotle believed in virtue wherein individuals must attain their
maximum potential to contribute to the greater community.
Confucius believed that people must live by the most supreme and
ethical conduct so that that good thing will follow. Pythagoras sees
that problems and solutions are found in mathematical data and
analysis.
46
Keep in Mind
● From these philosophical traditions, two opposing contemporary

philosophies on business ethics arose: utilitarianism and deontology.
Utilitarianism prioritizes decisions that create the "greatest amount
of good for a greater number of people" in a society. In contrast,
deontology emphasizes the categorical imperative to treat people
with dignity and respect.
47
Keep in Mind
48

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Lesson 2.

Classical Philosophies in Business

Business Ethics and Social Responsibility

Education Family Friendship

1. Based on your philosophy statement, what problems or

Compare and contrast classical philosophies in relation to

At the end of this lesson, you should be able to do the following:

● Business people have

Metaphysics Epistemology Axiology

● concerned about reality

● refers to the nature,

● explores the nature of

You can understand philosophy by comparing it to a telescope

● Many contemporary philosophies branched out and

Socrates (470-399 BC)

Plato (428/427-348/347 BC)

● set the ideal and strive to

Aristotle (384-322 BC)

● no dichotomy between self-

Confucius (551-479 BC)

● attain personal fulfillment

● if businesses treat others

Pythagoras (570-495 BC)

● problems can be identified

Mr. Reyes is the only supplier of ham in their community. The

Mr. Reyes eventually decided to keep the prices of goods low.

● Contemporary philosophies branched out and developed

● make the fairest decision ● do what is ethically and

● the disadvantage to a small group is justified if the

● it is categorically imperative to treat people with dignity

A chemical manufacturing company plans to relocate its

During the discussion, utilitarian executives argue that

In the Philippines, the issue of wage increase and the

The arguments for and against wage increase have

On the other hand, those against a significant wage increase

Deontological views believe that companies must recognize

● Classical philosophers provided the foundation for developing

● From these philosophical traditions, two opposing contemporary

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