Bilbao, Joshua R.

BSBA-MKTG2A

GGSR ACTIVITY #1

Discuss your thoughts and stand on the following:

1. Is philosophy really needed in doing business?

Yes, I think that Philosophy is really needed in doing business because it has a big contribution in
the business world. I learned in our class that Philosophy is about the nature of knowledge. So, I
think that it is important because it develops the critical and innovative thinking of the members
of the organization and it helps them to develop emotional stability and attitude towards
success. Philosophy is also reflected into ethics and core values which keeps the employees
dedicated to their profession. Therefore, successful business without philosophy is unthinkable.

Also, it gives an understanding to employees and leaders of how their purpose, mission
statement, vision statement, and core values all connect. These things provide focus and
direction for their decision making, along with a good motivation and set of goals which makes
their business align with the right path. I also believe that the vision and mission of a certain
company philosophy can affect all the aspect of their business, in their customer service,
marketing, and management style. Lastly, the “Philosophy” is truly essential in doing business
because this Philosophical thinking can bring much help for more improvement needed in the
changing business world, innovating new ideas, and giving solutions into the organization.

2. Does philosophy have any relevance in business?

Yes, Philosophy has always been relevant to business and one thing that we can easily connect
to it is the skills that an employee gain through philosophy which is critical thinking and
innovative thinking. Philosophy requires us to think through our beliefs and also to the ideas of
others, in business it is normal that a company would encounter a lot of problems and
challenges because the competition in the business world is very active. And this shows the
relevance of the business to Philosophy, because firms are always looking for an idea of finding
the main problems and the right course of action to these said problems.

Also, most businesses exist because there are problems that people and society wanted to solve
and control. Businesses begin because firms are having new ideas to produce new things which
can address problems and demands, and in this current generation we can clearly see that there
are many things that has been improved through gaining knowledge and experience. Through
this, the value of having philosophical thinking is being reflected which means that what every
firms are doing are also connected to philosophy.
3. Is it a passport to a successful business venture?

Yes, I think that philosophy can be considered as a passport for a successful business venture
because it simply has a big contribution to the company. A company cannot organize themselves
and know their prioritize without their values, beliefs, and goals. There are a lot of questions
that an organization will surely ask when running a business because there will be a lot of
obstacles and problems to be encounter when handling it and Philosophy enhances the skills of
the employees to solve these said problems which is very vital for handling business situations.

It is important that a business philosophy is genuine. Employees will know if a company have a
philosophical culture that can be suitable for their values, beliefs, and practices. For example,
the belief of a company to “prioritized customer needs than making profits” and “treating
employees as an asset to the company and not a liability” this can positively affect a company's
ability to produce the desired results. Also, when you have a clear business philosophy, it
becomes easier to recruit talent that already holds the same as what is suitable for a firm.
Lastly, Employees who believe into the company philosophy tends to work harder to meet
standards that are set in core values and mission statements. Therefore, when a good work is
done then customers have a better experience, the results is that the company generates more
revenues and the company will continuously grow. This is goal of all business, and having a
business philosophy helps companies achieve their goals.