THE IMPACT OF

BELIEF SYSTEMS IN
BUSINESS PRACTICES
Lesson 5
Business Ethics and Social Responsibility
Session Objective
At the end of the lesson, the
learners are expected to…
explain how the belief
systems influence
business practices.
Think about these…

In what religious affiliation do you

belong?

Do you think your religious affiliation

has an influence on the prevailing
business practices?
Answer the short pretest.

https://forms.gle/d7tJtc1nhSy882Nq8
Recall…
Name a philosopher and explain how
his philosophy has influenced
business practices.
What’s New?
Read the situation below and answer the given questions.
One day, you and your friend went to the market to buy
washable face masks. The stall owner, who was wearing hijab
approached the two of you. Your friend could not control her
giggles while the Muhaajaba was talking. As a response, the stall
owner got mad and shouted at you and your friend.
1. What are you going to tell the stall owner?
2. What advice would you give to your friend?
 Belief System
A belief system is a set of principles or tenets which together
form the basis of a religion, philosophy, or moral code.
A belief system is an ideology or set of principles that helps us
to interpret our everyday reality.
This could be in the form of religion, political affiliation,
philosophy, or spirituality, among many other things.
These beliefs are shaped and influenced by a number of
different factors. Our knowledge on a certain topic, the way we
were raised, and even peer pressure from others can help to
create and even change our belief systems.
 World’s Christianity

Major Judaism

Religions Islam

Buddhism

Hinduism
 Christianity
- world’s biggest religion with more that two billion followers
- a monotheistic religion based on the teachings of Jesus Christ as the Son
of God and savior.
- subcategorized as Roman Catholic, Orthodox, and Protestant but they all
believed in the core ideas such as the resurrection of Christ, authority of
the Bible, and eternal life in heaven even if they pray and worship in
different ways.
Protestant
Roman Catholic Orthodox - inaugurated by Martin
- the Pope is the head; - developed in Eastern Europe Luther King, Huldrych
highest authority in in communion with the Zwingli, and John Calvin
faith, morality and Patriarchal Sees of the East - other sects: Methodism,
governance - traces its heritage to the Pentecostal; born-again
- traces its origin to the foundation of Christianity - do not acknowledge the
Christian Community through apostolic succession Pope; emphasize on
founded by Jesus - their head is a patriarch, use reading the Bible; hold on
Christ icons in worship, Easter is to the doctrine of
on another date salvation by faith alone
 Impacts of Christianity to Business Practices
1. In Producing Goods
- Christians are taught to avoid selfishness and greed.
- God as intended for mankind to develop Earth, by imparting knowledge
and skills to be able to make something from the materials that God
provided.
- Producing harmful, evil or destructive work, such as drugs or pornography
must be avoided.
2. In Employing People and Being Employed
- In the Bible, Jesus taught that laborers deserve wages and employers also
benefit by having the work done.
- Employers must exercise caution not to oppress and be unfair.
- Employees must exercise caution to avoid carelessness in work, laziness,
jealousy, bitterness, dishonesty, theft, or rebelliousness.
Impacts of Christianity to Business Practices
2. In Employing People and Being Employed
- hard work, discipline, frugality, sobriety, and obedience to laws are
examples of inner-worldly asceticism and by engaging in these activities,
succeeding in business is higher.
3. In Buying and Selling
- Commercial transactions are in themselves good because the community is
able to help and fulfill each other’s needs.
- One must not engage in dishonest businesses, use low-grade materials, or
overprice goods and services.
- Contracts must be strictly adhered to, regulations must be complied with,
and work must be done for the benefit of the common good.
4. In Earning Profit
- The Bible teaches about stewardship – expanding or multiplying the
possessions God has entrusted mankind.
Judaism
- Oldest monotheistic religion in the world but the smallest major religion
with 18 million followers
- Majority of Jews are in the USA, Israel, while others are in Europe,
Latin America, Canada, Africa, Australia, and Asia.
- Emphasizes justice, charity, modesty and doing good deeds
- Focus is on present time on earth rather than eternal life in heaven
- Torah – most important Jewish scripture which includes Genesis,
Exodus, Leviticus, Numbers, and Deuteronomy
- Talmud – the oral Torah, contains collective stories and explanations,
laws, moral discussions, and medical knowledge
- Note: Rabbinic Judaism is the main movement that is characterized by
the belief that the written Torah has to be interpreted with the Oral
Torah.
Judaism
Denominations: Orthodox, Reform, Conservative

Orthodox Judaism Reform Judaism Conservative Judaism

- believes that laws - does away with strict - was developed after leaders
given by God are dietary requirements found Reform Judaism too
timeless and can never and Sabbath but focuses radical
be changed on moral laws of the - teaches that the law is not
religion and emphasizes static and has to change to
personal connection to reflect modern times and
traditions conditions
Impacts of Judaism to Business Practices
1. Business in Good Faith
- Business activity is in itself a holy activity and one should seek to conform
to Jewish laws.
- It is the obligation of Jews to avoid poverty by earning a living through
gainful employment.
- Jews are obligated to protect the poor.
- Pledges for money lent were taken, but Jews are reminded not to take
pawns, such as utensils used in preparing food.
2. Treatment of Workers
- Jewish law states that everyone must be treated with respect and dignity,
appropriate wages must be paid on time, and mocking and embarrassing
workers are prohibited.
- Employers should not ban bathroom breaks, change work hours or assign
shifts without notice, nor require overtime work without consent and
payment.
- Employees must work with honesty, and not waste time during work.
Islam
- world’s second largest and fastest growing religion with 1.62 billion
followers globally
- Muslims believe in a single, indivisible God who is omnipotent and merciful
- Holy Qur’an mentions 25 prophets and indicates other messengers including
Adam, Noah, Abraham, Moses, David, Jesus and the last prophet
Muhammad. Jesus is not considered the Son of God.
- Denominations: Sunni and Shia
Shia
Sunni - 10-20% Islam
- 75-90% of all Muslims - people are Shiites (believed that Muhammad
- people are Ahl as-Sunnah appointed his son-in law Ali Ibn Abi Talib to
(people of the traditional be his successor
Muhammad) - reject the other Imam
- Embodies a completely independent system of
authority, religious hierarchy, and historical
interpretation
Impacts of Islam to Business Practices
1. Practice freedom of enterprise
- Muslims are free to choose a way to earn livelihood within the limits
set by the Islamic Shari’ah
2. Be honest and truthful
- Qur’an disapproves of any wrongdoings. One must strive to earn
through legitimate transactions and interests
3. Trade through mutual consent
- The validity of a transaction depends on mutual consent.
4. Treat workers fairly
- Islam encourages the spirit of brotherhood between employer and
employee.
5. Keep one’s word
Muslims should honor and fulfill business obligations as promised.
Impacts of Islam to Business Practices
6. Be humble
- Muslims should avoid extravagance and must exhibit goodwill in all
transactions.
7. Seek halal earnings
- Muslims are obliged to earn halal money, not just earn from any enterprise.
Prohibitions:
to deal in haram (unlawful) items
to sell commodities that are risky; arbitrarily fix prices; hoard food items;
exploit the ignorance in market conditions; trickery; cheating; fraud
to engage in riba (interest usury), gambling, liquor, pornography
Buddhism
- nontheistic religion based on the teachings of Siddharta Gautama
- Buddhist way of life is based on peace with universal love and compassion,
omniscient wisdom, and boundless spiritual power.
- Buddhists believe the Four Noble Truths:
1. There is suffering that is ingrained and part of life
2. Suffering is due to the attachment to things
3. There is cessation to suffering
4. There is a life path to end suffering

- Buddhists believe the Noble Eightfold Path:

1. Right View 5. Right Livelihood
2. Right Intention 6. Right Effort
3. Right Speech 7. Right Mindfulness
4. Right Action 8. Right Concentration
Impacts of Buddhism to Business Practices

1. The goals should be defined.

2. The principle of cause and effect should be followed.
3. Empathy and compassion for the customers have to be
developed.
4. Be flexible, innovative, and mindful of impermanence.
5. Your team, yourself, and the consumer have to be
respected.
Hinduism
- world’s oldest, third largest religion behind Christianity and Islam
- according to many scholars, with roots and customs dating back more than
4,000 years, with about 900 million followers
- roughly 95 percent of the world’s Hindus live in India.
- Because the religion has no specific founder, it’s difficult to trace its origins
and history. Hinduism is unique in that it’s not a single religion but a
compilation of many traditions and philosophies.
- Most forms of Hinduism are henotheistic, which means they worship a
single deity, known as “Brahman,” but still recognize other gods and
goddesses. Followers believe there are multiple paths to reaching their god.
- Hindus believe in the doctrines of samsara (the continuous cycle of life,
death, and reincarnation) and karma (the universal law of cause and effect).
Impacts of Hinduism to Business Practices
1. Hinduism has a positive attitude towards business and creating wealth,
yet wealth is not the supreme goal. Ethics (dharma) and salvation
(moksha) are more important.
2. No single person can do all jobs.
3. Managers and workers must practice the seven duties of “forgiveness, self-
control, non-stealing, steadiness, truthfulness, wisdom, and learning”.
4. There should be a strong government with a strong leader, and that the
leader should increase the wealth of the state and his own power.
5. monopolies were to be discouraged; prices and profits were to be kept fair;
there should be a tax system which would have reasonable rates, should be
inexpensive regarding administration, and does not negatively impact
economic growth, and there should be high taxation on luxury goods.
6. Labourers should be given fair wages depending on their skills and
productivity.
Enrichment Activity
Which religions are similar? In what way are they
similar?
Application
Answer the following:
1. What is your religious affiliation?
2. Give at least two business practices that may be an influence of
the religious affiliation where you belong.
Assessment
Review for a google quiz on Monday, March
28, 2022, 4:00 p.m.