PARANG HIGH SCHOOL

12 Senior High School Department

ABM Specialized Subject

CLASSICAL PHILOSOPHIES AND THEIR IMPLICATION FOR BUSINESS

PRINCIPLES AND PRACTICES
BUSINESS ETHICS AND SOCIAL RESPONSIBILITY
HANDOUT No. 4, Quarter 3, Week 4
Content Standard: The learners demonstrate understanding of:
1. classical philosophies specifically, virtue ethics (Socrates, Plato, Aristotle, Confucius, etc.)

Performance Standard: The learners should be able to:

1. Identify the classical philosophies and their implication for business principles and practices

Learning Competencies: The learners are expected to:

1. illustrate how these philosophies are reflected into business practices
ABM_ESR12-IIIe-h-2.1
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WHAT I SHOULD KNOW

Philosophy is as old as our civilization has been there. In each civilization the wise and the curious enquired
and contemplated the why of things and got answers that were not complete, and they further deliberated upon
to refine their answers. Knowledge is a great tool and in today’s age knowledge management is a discipline to
manage business and develop effective customer relationships. The philosophers are rigorous and deeper and active
in their search and they don’t take life for granted. Philosophy is the search for rational understanding and asks
most fundamental and penetrating question to get to the issues of the matter.

Philosophy in the context of today has more relevance. We do talk and keep on hearing on the increase of
corruptions and insider trading and all these are the outcome of increase and ease in the level of communication.
Communication devices and technology has made business to reach un-paralleled heights but everything that grows
has an opposite dimension also as the great Chinese philosopher Chuang Tzu emphasized the unison of all things
and dynamic interaction of opposites. The business success has lessons to learn from the ancient wisdoms which
are grounded in the discipline of philosophy.

These are the following philosophical terms used to highlight the idea of moral philosophy that will help students
understand that one’s conduct/behavior affects business relations.

1. Teleology. Considers an act morally right or acceptable if it produces some desired result such as pleasure,
knowledge, career growth, the realization of a self-interest, or utility assesses moral worth by
looking at the consequences for the individual
2. Egoism. Right or acceptable behavior defined in terms of consequences to the individual maximizes
personal interests.
3. Utilitarianism. Conduct a cost/benefit analysis determine behavior on the basis of principles of rules that
promote the greatest utility rather than on an examination of each situation.
4. Deontology. Believes in equal respect and view certain behaviors as inherently right individuals have
certain inherent freedoms rule deontologist conformity to general moral principles act
deontologists evaluate ethicalness based on the act.
5. Relativist Perspective. Defines ethical behavior subjectively from the experiences of individuals & groups
a positive group consensus indicates that an action is considered ethical by the

Handout no. 4 - CLASSICAL PHILOSOPHIES AND THEIR IMPLICATIONS FOR BUSINESS PRINCIPLES AND PRACTICES
 group acknowledges that we live in a society in which people have different views
and many different bases from which to justify a decision as right or wrong.
6. Virtue Ethics. What is moral in a given situation is not only what conventional wisdom suggests, but also
what a “moral” character would deem appropriate elements include: truthfulness, trust,
self- control, empathy, & fairness. The negative attitudes include: lying, cheating, fraud &
corruption.
7. Three Types of Justice
A. Distributive justice- an evaluation of the outcomes or results of a business relationship.
B. Procedural justice-based on the processes and activities that produce the outcomes or results.
C. Interactional justice- based on an evaluation of the communication processes used in business
relationships (often based on the accuracy of information provided)

With this said terms, let us then delve into consideration the injustice(s) that somewhat occur in the business world which
negates the moral behavior of a person.

1. Taking the Local – refusing to admit that we belong globally connected society.
2. Difference Aversion-wanting everyone to be like the rest of the group. Anyone who would refuse is a threat in
the corporation. Be one with the system, do what the Romans do.
3. Profit Myopia-making every decision on profit alone and thinking we’re leading responsibly.
4. Adverse Adaptability- refusing to adapt as the world changes, thinking that the past will work in the future.
5. Planet Plunder- thinking that all natural resources are unlimited, it is safe to consume it all.
6. Reverse Magnetism- thinking that negative interpersonal behavior (that repel others, that create stress and
make it difficult for people to work is acceptable
7. Silo Sabotage- refusing to work cooperatively across department lines within the same company, seeing others
as the enemy.
8. Role muddle- setting standards all employees need to meet but giving ourselves an exemption from meeting
them.

Lesson Learned from the 5 Greek Philosophers about Business

True wisdom is eternal. These five philosophers lived in a different time but the wisdom they have can still be
applied to modern times.

1. Marketing and project management advice from Aristotle

Aristotle left us several business lessons we can still use today. The essence of marketing is understanding what
motivates potential customers to act. All human actions have one or more of these seven causes: chance, nature,
compulsions, habit, reason, passion, desire. – Aristotle

Project management
And how do we achieve these ends? Once again, we can turn to Aristotle for sound advice. “First, have a definite,
clear practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends; wisdom, money,
materials, and methods. Third, adjust all your means to that end.” – Aristotle

2. Epicurus on Security
Epicurus was more into enjoying life in all its glory than moralizing or conducting business, but he did contribute
something we can all get behind given the constant threat of data theft and loss.

Those who were best able to provide themselves with the means of security against their neighbors, being thus in
possession of the surest guarantee, passed the most agreeable life in each other’s society… We must consider
both the ultimate end and all clear sensory evidence, to which we refer our opinions; for otherwise everything will
be full of uncertainty and confusion. – Epicurus
Handout no. 4 - CLASSICAL PHILOSOPHIES AND THEIR IMPLICATIONS FOR BUSINESS PRINCIPLES AND PRACTICES
 3. Heraclitus defines the nature of change
“No man ever steps in the same river twice, for it’s not the same river and he’s not the same man.” – Heraclitus

4. Socrates talks about reputation management

In business, your brand reputation is a tangible asset. Your sales depend on the trust relationship you build with
your customers. Socrates encourages a concept all marketers are familiar with, authenticity. – Socrates

5. Plato knew all about quality content

It’s a concept Google lives by, and so should you. Quality over quantity wins every time – as true now as it was in
300 BC.
Better a little which is well done, than a great deal imperfectly. – Plato

Wisdom is wisdom, even when it is passed down for thousands of years. Core truths speak to human nature and
the very heart of ethical business practices

WHAT I CAN DO

Directions. Answer the following questions critically. Be guided with the rubrics provided for marking.

1. In your own words, discuss as to how philosophies are reflected into business practices. Give concrete examples.
Develop it into a paragraph with at least 300 words.
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2. Given the problem on proper waste disposal in our city, how does your learning of this lesson can be of help to
solve this environmental problem?
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Criteria Exceeds Standard - 10 Meets Standard - 8 Approaching Standard - 6 Below Standard - 4 Score
Focus/ Ideas -Has ideas that are connected to -Has ideas that are fairly -Ideas are somewhat -Ideas are not
each other connected connected connected
-Has a fully developed topic and a -Has a fairly well-developed -Has a minimally -There is no
clear topic sentence that expresses topic stated in a topic developed topic; may or minimally
the main idea sentence may not have a topic developed topic;
-Has carefully selected interesting -Has some details that sentence - Details are not
details that support the topic support the topic -Some details are present present
-Maintains focus clearly -Generally maintains focus -Focus stray -Focus strays
throughout the essay
Rubrics adapted with modification from https://www.rcampus.com/rubricshowc.cfm?code=C2X5988&sp=yes&

Handout no. 4 - CLASSICAL PHILOSOPHIES AND THEIR IMPLICATIONS FOR BUSINESS PRINCIPLES AND PRACTICES
 ASSESSMENT

Identification. Identify the classical philosophers by the given lesson learned about business.

________ 1. Security and privacy are important to peace of mind.

________ 2. He reminds us that visitors may visit a business website with a different goal in mind each time. It’s up to the
business to make sure we meet their changing needs.
________ 3. The essence of marketing is understanding what motivates potential customers to act.
________ 4. The way to gain a good reputation is to endeavor to be what you desire to appear.
________ 5. Better a little which is well done, than a great deal imperfectly.

References:

Cruz, A. (2021). Business Ethics and Social Responsibility. Alternative Delivery Mode. 3 rd Quarter – Module 5 Applying Moral Philosophies to Business
Ethics. Frist Edition.
Emit, M and Capili, M. Business Ethics and Social Responsibility. Classical Philosophies and their Implications in Business Practices. Quarter 1, Week
4 Module 4

What these 5 Greek philosophers can teach us about business. (2015, April 11). Business 2
Community. https://www.business2community.com/business-intelligence/5-greek-philosophers-can-teach-us-business-01202336

Handout no. 4 - CLASSICAL PHILOSOPHIES AND THEIR IMPLICATIONS FOR BUSINESS PRINCIPLES AND PRACTICES