Q3/Week 5

Business Ethics and Social

Responsibility
Quarter 3 – LAS 5:
The Impact of Belief System in Business
Practices

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Name of Learner: _________________________________ Grade and Section: _____________

Subject Teacher: _________________________________ Date: _____________

Learning Activity Sheets (LAS)

Activity Sheet No. 5

BUSINESS ETHICS AND SOCIAL RESPONSIBILITY ACTIVITY SHEET

Title: The Impact of Belief System in Business Practices

I. Learning Competency with Code

Explain how the belief systems influence business practices.

II. Background Information for Learners

Here in the Philippines, we have so many religious groups where people go to or join
in to express their deep faith and love of God, while also influencing their business principles
or practices.

This learning activity sheet will help you define belief system in business; enumerate
examples of belief systems that affect business practices; and give examples of how belief
system affects business practices.

III. Accompanying DepEd Textbook and Educational Sites

⮚ See notes below

IV. Activity Proper

Activity 1.

A. Directions: Match the terms in Column A to their corresponding description in

Column B. Write the letter of your answer on a separate sheet of paper.

A B
1.Islam a. It follows the Old and the New Testaments.
2.Christianity b. It was founded on the teachings of Buddha.
3.Hinduism c. Its written law relies on Torah.
4.Judaism d. They believe in Brahman.
5.Buddhism e. Its source of rules is the Qur’an.

B. Directions: For 6-15, identify what practice/principle is described in each number.

Choose your answers from the box and write the letter of your answers on a separate
sheet of paper.

a. Islam b. Christianity c. Hinduism

d. Judaism e. Buddhism

____ 6. They have a positive attitude towards business and wealth creation.
7. Wealth is not their ultimate goal.
8. They pursue right livelihood.
9. Charity and justice in business must be exercised.

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 10. They comply with the regulations and strictly adhere to contracts.
11. Business should be conducted in accordance with the rules of nature
which God governs.
12. Fair pricing and good business relations should be applied.
13. Businessmen should really care for the environment.
14. They apply market honesty.
15. They put restrictions on misleading advertisements.

Activity 2.

A. Directions: Write the business practices or principles of each religion in the table below.
The first given will serve as your guide. Copy the table and write your answers on a separate
sheet of paper.

Religi Business practices/principles

on
Strict adherence to contracts.
Compliance with regulations.
Work for the benefit of the common good.
Christianity
No use of extortion.
Charity and justice must be exercised; and
Fair wages to workers.
Judaism

Islam

Buddhism

Hinduism

B.Directions: Using your answer in activity A, answer the question below in at least two
sentences. Write your answers on a separate sheet of paper.

Which religions are similar? In what way?

Rubrics:
Correctness of answer 3 pts.
Mechanics 2 pt.
Total 5 pts.

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 Performance
Task

Activity 3.

Directions: Choose one belief system and create an acrostic for its business practices or
principles. Write your answers on a separate sheet of paper.
Example: Christianity CROWN)

C- omply with regulations

R- espectfully and strictly adhere to contracts
O- nly get a decent deal
W- ork for the benefit of common good
N- o use of extortion
Rubrics:
Correctness of answer 5 pts.
(very good-5, good-4, fair-3, poor-2, very poor-1)
Acrostic /word formed 3 pts.
Mechanics 2 pts.
Total 10 pts.

Performance
Task

Activity 4.

Directions: Considering your religious affiliation, write at least two practices in

business that you follow as its active member. You may get your ideas from What Is
It to serve as your guide. Write your answers on a separate sheet of paper.
(five points each).

(My Religion)

Two best practices that I follow:

1. __________________________________________________________
2. __________________________________________________________

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V. Reflection
Directions: Answer the following questions.

I have learned that the business practices of Christianity are

__________________________________________________________________
__________________________________________________________________

I have learned that the business practices of Judaism are

__________________________________________________________________
__________________________________________________________________

I have learned that the business practices of Hinduism are

__________________________________________________________________
__________________________________________________________________

I have learned that the business practices of Islam are

__________________________________________________________________
__________________________________________________________________

I have learned that the business practices of Buddhism are

__________________________________________________________________
__________________________________________________________________

VI. Key answers

Activity 1 –

1. e
2. a
3. d
4. c
5. b
6. c
7. c
8. e
9. b
10. b
11. a
12. d
13. e
14. d
15. a

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 Activity 2 –

Christianity
Strictly adhere to contracts.
Comply with regulations.
Work for the benefit of the common good.
No to extortion.
Charity and justice must
be exercised. Give fair
wages to workers.

Judaism
Exercise honesty on the market. Fair pricing
Fair business dealing
Good business relationship

Islam
No interest on money lent
Restrictions on misleading advertisements Fair contracts to all parties
when misled by advertisement, the buyer may cancel the transaction. Practice
compassion, especially in bankruptcy
Gambling is not allowed.

Buddhism
Goals should be clear.
Follow principles of cause and effect.
Show empathy and compassion to customers.
Be flexible, innovative, and mindful of impermanence. Do not harm the environment
and the animals.

Judaism and Islam

Both promote honesty, especially in advertising.
When a customer is misled by the advertisement, he or she may cancel the business
transaction.

Islam and Buddhism

Both want to give compassion to customers, especially when the latter experiences
bankruptcy.

Hinduism and Judaism

Both advocate fair pricing of goods and services.

Hinduism and Christianity

Both want the workers to receive fair and just wages.

VII. Notes1 :

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 The unseen force underlying our actions is our belief system. Throughout our lives,
human beings accumulate thousands of beliefs on all facets of life. We obtain them from things
other people tell us, things we hear on the news, things we read, or any other external
influences we are subjected to. All of these beliefs interact with each other, affect each other,
and create a system together.

Along with other influences such as our personality, genetic set-up, and behaviors, our
belief system, such as religion, is one of the greatest forces influencing every decision we make.

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.

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 persona 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, and working for the benefit of the common good. 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.

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.
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).

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. Some important points include market honesty, fair
pricing, and business relationships.
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 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.

Truly, business ethics occupies such important place in Jewish laws, culture, and
tradition that at the final judgment, the Talmud has this to ask an individual: "Were you honest in
your business dealings?"

In Judaism, work, including manual in nature, is held in great esteem like a sort of
human partnership with the divine.
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.

Additionally, according to Hayes (1998), the following principles 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. That is probably the most common thing that is 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.

4. Buddhism
Founded on the teachings of Siddhartha Gautama, who is called “Buddha” or “the
enlightened one”, is Buddhism.

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 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, and drinking intoxicants.

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.

We need to use intuition in the case of a business proposal to work out the factors that
would take us to our ultimate aim. The process resembles reverse engineering. We begin to
trace 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.

It is crucial to understand the challenge that our potential customers may encounter, and
to have an empathic approach towards it. We need to recognize and always keep in mind the
problem that our 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.

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.

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.

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
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 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.

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).

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.

It is worth noting, overall, that every faith has its own biases. Nevertheless, each of them
has the core concept that faith would give rise to a commitment to maintain a desirable work
climate. This is why our society cannot remove the effect of religion on modern business. We
should be mindful of disparities in beliefs among various cultures and accept them. While there
are global ethical standards, we must also show respect for each community's different values.

Notes 2. Links and/or Other References

Hinduism And Business". Himanshu Rai. Accessed 10 July 2020.

http://www.himanshurai.com/hinduism-and-business/.

"How to Do Business in Islamic Countries". HBS Working Knowledge. Accessed 10

July 2020. https://hbswk.hbs.edu/item/how-to-do-business-in-islamiccountries.

“BBC - Religions - Islam: Hijab”. Accessed 6 July 2020.

https://www.bbc.co.uk/religion/religions/islam/beliefs/hijab_1.shtml#:~:te
xt=In%20one%20popular%20school%20of,man%20they%20could%20theore
tically%20marry.

“IESE Insight How World Religions View Business Ethics”. Accessed 6 July 2020.
https://www.ieseinsight.com/doc.aspx?id=556#:~:text=More%20than%20a
%20theological%20system,moksha%20are%20more%20important.

Aish International. 2017. The Impact of Jewish Values on Marketing and Business
Practices. Retrieved from https://aish-international.com/impact-jewishvalues-marketing-
business-practices/

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