Religion influences people’s way of living since it is dominant and one of the most

influential factors in most culture. The World’s major religions in Asia are
Christianity, Islam, Hinduism, Buddhism and Taoism.

THE WORLD’S MAJOR RELIGIONS

1. CHRISTIANITY

2. ISLAM

3. HINDUISM

4. BUDDHISM

5. TAOISM

6. SHINTOISM

7. CONFUCIANISM

8. JUDAISM

Religion influences people’s way of living since it is dominant and one of the most
influential factors in most culture. The World’s major religions in Asia are
Christianity, Islam, Hinduism, Buddhism and Taoism.

To act ethically is a two-way-process. First, an individual has to find out what should
be done, in a particular situation. Second is the real act of doing it. In the
first, there is an ethical theory needed to determine what should be done. In
the second, the act of doing requires moral character.Religion is our source of
moral strength, with the guiding principles and spiritual virtue; we live our life the way
we want to be accepted by our society and God. Religions instill in us the value of
kindness, decency, honesty, empathy, love for others and most specially our love for
God. This gives us high moral esteem that what we are doing is for the
goodness and uprightness of our community and lived by the virtue that every
religion has believed in. Let’s find out what are the major religion in Asia and the
different fold of ethics they give credence to.How does religion impact business?At a
fundamental level, religions provide guidance regarding what is the appropriate way
to deal with societal expectations; provide individuals with a set of principles to live
by. As they affect people, they also affect companies and their operations
through the influence on business procedures. Centuries ago,when countries did
not have business ethics religions had already offered norms of conduct and
values to businesspeople. Religious ethics provide a set of consistent and
reasonable statements regarding business. In our global world, business means
dealing with people of different religions, and ignoring or misinterpreting religious
ethical approaches can cause serious problems.

Christianity (“THE CRUCIAL PRINCIPLES”)- is a faith based on the life,

teachings, death, and resurrection of Jesus and is the most practiced religion around
the world. Christianity is the most practiced religion having the greatest number of
adherents at 2 billion (970 million Roman Catholics; 220 million Eastern Orthodox;
385 million Protestants; 275 million others). (Epstein & Hanson, 2006). Jesus
of Nazareth, or Jesus Christ is the central figure of Christianity, born 2,000 years
ago. Jesus’ teachings have special mention of business in his parables. He abhors
the charging of too many profits as a check against greed. Service to God must be
the primary concern over the service for money. Justice must prevail in the conduct
of business coupled with the love for persons and human dignity. This religion also
stresses a sense of justice in business, such as the strict observance of contracts,
observing regulations and working for the sake of the common good (Epstein &
Hanson, 2006).74

1. The Golden Rule–“Therefore all things whatsoever ye would that men should
do to you, do ye even so to them: for this is the law and the prophets.”
2. Stewardship–Men and women are being called by God to pursue their
passion in doing the business conferring to a sanctified program that go
beyond the customary principles and morals.
3. Faith–Our God wants us to put our faith unto HIM in all aspects of our life.
Whatever undertakings we deal, be it personal or not, we must put our trust in
HIM.
4. Uprightness–Whenever we engaged ourselves in any business, do not
forget to conduct it as with that our GOD will be very pleased. Be it on your
employees, customers, or suppliers,we must in still theintegrity of
uprightness as it is permitted and allowable by GOD.
5. Attentiveness–whatever is that thing that is needed regardless of the
concerns by the people in the business, we must always ensure to be
attentive and responsive to their needs.6. Kindness–Just like GOD, being kind
 hearted to everyone is an opportunity for us to do well that pleases HIM
especially to those who are in need.

3 Folds of Ethics in Christianity

1. .VALUES–are principles that guide a person’s behavior to fulfill oneself as
human being.
2. MORALITY–is concerned with understanding of what is right and wrong
behavior.
3. ETHICS–It is the study of framework such as standards, rules or codes
and traits for ensuring right action, behavior, and conduct.

ISLAM (“ETHICS FROM THEQUR’AN”)- Muslim believe that Mohammed is God’s

last prophet Islam laid the foundation for some moral standards that determine what
is morally good and what is morally bad.

1. Business Ethics for Islam- The Prophet Muhammad

stressed that the secrets of success in business are
integrity and kind relationships with clients. Here are a
few important philosophies according to Islam to
achieved fair business transactions:• No fraud or
deception, it is stated that the Prophet said. “When a sale
is held, say, there is no cheating” In business the owner
or the seller must not to make many promises when
selling merchandise. The Prophet is reported to have
said, “Be careful of excessive oaths in a sale, though it
finds markets, it reduces abundance• Mutual consent is
important. The prophet said that the “The sale is
complete when the two parties involved departing with
mutual consent.”• Be firm regarding weights and
measures. The prophet said, “When seller cheat in weight
and measures,
their terms is cut off from them. “He said to the owners of
measures and weights, “You have been entrusted with
affairs of which some nations before you were
destroyed”.•Storing of merchandise for making the price
higher is forbidden.
2. Honesty- Islam wants its followers to be truthful in their
dealings with both Muslims and non-Muslims. It is true
that Honesty is the most essential moral values that bear
witness on how Muslims are devoted to their religion.
“The signs of the hypocrite are three: when he speaks, he
lies when he promises he breaks his promise and when
he is entrusted, he betrays the trust.”
Truthfulness- “He said, “Be truthful, for truthfulness leads
3.
to righteousness, and righteousness leads to Paradise. A
man keeps on telling the truth until he becomes known as
a truthful person.” In business transactions one must be
true in the quality and defects of the products.
Proficiency- A Muslim must conduct his duties with
4. effectiveness and to the best of his ability, no matter what
his profession might be. Islam is the second largest
religion with more than 1 billion adherents, in Africa, the
Middle East, China, Malaysia, and the Far East and even
in the European countries. and continuously growing. The
history of Islam started with Muhammad, who was
born in Mecca around A.D. 570. Muhammad believed
in one God, Allah, and recorded his divine revelations in
the Qur’an (Koran). Several Islam business scholars
agree that a central concept of the religion is tawhid,
or unity with God. Life is unified because it provides the
practical way to pattern all facets of human life in
accordance with God's will. Business is included and
should be run according to the laws of nature dictated by

God.
QURAN- The Qur’an(Koran) is not necessarily a code of law, it expresses the
Islamic work ethic and the rules that should guide Muslims as they encounter
situations in their daily lives. Islam has implications for multinational
companies on many levels because it strictly forbids receiving or giving
interest (riba) and is respectedin many countries including Pakistan. In such
countries, governments have instituted financial laws that see interest as
illegal.In general, the Qur’an is supportive of entrepreneurship and earning of
profits through legitimate business activities. It allows accumulation and
protection of private property; however, Muslims are naturally concerned with
issues of social justice and fairness. Muslims are likely to condemn the
pursuit of profits through the exploitation of others Multinational companies
mustensure that their business activities are conducted in a socially just
manner.

HINDUISM (“NON-VIOLENCE”)- It is a major religion in the world

originating from India and Has 80 percent of India’s population. Hinduism do not
object to acquirement of wealth, but is should be acquired righteously and must
be shared or distributed. It is estimated that about 950 million of people believe in
Hinduism which is located in India. Hinduism is considered to be the 3 rdreligion in
terms of number of believers.

Hinduism is “the world’s oldest religion”.

•Hindus acknowledge three main gods:

OBrahma

OVishnu

OShiva

•Brahma is the Inventor.

•Vishnu, the preserver

•Shiva is the whole thing by those who believe on him: creator, preserver, and
destroyer. In Shiva, the opposites meet.
 oShiva named as the destroyer is an important part of the trinity
because they believed that without damage, there can be no creation.

•Hindus believed in KARMA which denotes the cause and effect, each action a
person takes will affect him in the future. “What goes around comes around”.
•Hindus in their business ethics:

1. Integrity: Conduct business equally and with transparency that everything

should be done for the benefit of the public.
2. Understanding: Showing compassion and respect to your colleagues and
clients around the world will surely work for the goodness of India.
3. Excellence: To maintain the quality of products and service they are offering
they make sure to give their 100 percent in their daily work to achieve the
possible highest standards of the clients.
4. Unity: To work cohesively with colleagues across the group and with
customers and partners around the world, building strong relationships
based on tolerance, understanding, and cooperation.
5. Responsibility: Continue to be accountable, attentive to the nations,
cultures, and societies in which they function, and making sure that what
comes from the people goes back to the people many times.

BUDDHISM (“MAXIMS FOR BUSINESS”)- It is the world fourth largest religion in

the world. This religion becomes prominent in East and Southeast Asia. Buddhism
is an ancient philosophical system that follows the teachings of the
Buddha.Buddhism was founded by Siddharta Gautama, a prince from Nepal; is a
broad and multifaceted religious tradition that focuses primarily on the reality of
worldly suffering (4 Noble Truths) and on the ways one can be freed from such
suffering by following the 8-Fold Path.The basic teaching of Buddhism argues that
there is no “self” or “I” that means selflessness; and that every person and
everything in the world is assumed to be interconnected.

The impact of one’s actions affects others as it sees laziness as a very negative
quality and heavily discouraged. It therefore, prescribes a work ethic that
encourages workers to engage in their best efforts and qualities such as
taking the initiative, persistence, and hard work.

Buddhists see boundless compassion and love as “sublime states” and Buddhism
provides practical guidance on how to live according to such high ethical
standards. Buddhists advocate for the "right livelihood" and are generally
against companies that do not care for the environment or that abuse animals.

TAOISM (“ACTION WITHOUT ACTION”) seeks to promote the inner peace of

individuals and harmony with their surroundings. It coexists with Confucianism in
China. "Tao" could be translated as "path" or "the way." It's like a force that flows
through life and pervades all things. In business,

Taoism encourages companies to nourish people, take care of them just like
family members, and the aim of business should not be personal success or
gain, but the common good.

According to "Tao Te Ching", chapter 9, "Fill your bowl to the brim and itwill spill.Do
your work, then step back."

JUDAISM (“JEWISH BUSINESS ETHICS”), which has 15 million adherents,

started with the original Covenant made between God and Abraham around 1900
B.C. The main source for understanding business ethics in Judaism is the Torah. In
Judaism, work, including manual work, is held in great esteem, like a sort of human
partnership with the divine.

“The legitimacy of business activity and profit, conducted within a framework of

religious and ethical norms, is one of the guiding principles for business ethics
highlighted in the Jewish tradition"(Epstein & Hanson, 2006).

CONFUCIANISM (“THE GOLDEN RULE”)- is one of the traditional religions

of China that started during the 5th and 6 the century BC based on the
teachings of Confucius. There are approximately 5 million people who practice it.
According to Confucius, "A gentleman takes as much trouble to discover what is
right as lesser men take to discover what will pay." Profit is acceptable as long as it
is acquired with righteousness.
SHINTOISM (THE WAY OF THE GODS)- The word “Shinto” was derived from
the Chinese words “shin tao” (the way of the gods) which started in 500 B. C. As
a religious belief, the focus is on the worship of the kami (a host of
supernatural and mysterious beings or deities). Shintoists give special
reverence on different forms of objects of nature and abstracts that serve as forces
of nature, the reason why the main concern is the love and preservation of nature. In
business, Shinto emphasizes benefits for the group, treating members of the
business group like a family; therefore, gift-giving is an importan tpart of Japanese
culture both in and out of the workplace and is a good way to ensure business deals
remain friendly.

However,accordingtoShintotradition,thenumberfourisunluckyand
symbolizes death. Gifts featuring this number are inappropriate. Work is understood
to be a self-expression of the great life force, and Japanese people
unconsciously, and sometimes consciously, try to unify themselves with the great
life force by concentrating on their own work. In work relationships, the group is
considered more superior than individuals.

As part of their ethics, loyalty to their group is valued over those from outside from
Japan or businesses owned by foreigners. Japanese will always patronize product
of their fellows even if the price is a little higher than that of a foreign business.

BUSINESS ETHICS
Business ethics as a form of applied is the study of business situation, activities, and
decisions involving business issues related to how the business is conducted and its
social, financial, and environmental implications. Business ethics provide guidelines
for moral actions, right behaviors stipulated in the collection of rules, standards,
codes, or principles in specific business situations. Why the need for business
ethics in today’s modern societies? The abiding principle is that businesses
can achieve a lot, become competitive and sustainable without being unfair
and resorting to unethical means. The moral standards and values are applied in the
framework of business organizations and its different departments.

Different fields of business should be involved in business ethics top revent

disastrous outcomes. In production, quality of goods produced must conform to the
standards; manufacturing firms must make sure that their process of production do
not harm the environment by preventing all kinds of pollution; sales and
marketing must not deal with price fixing and misleading advertisements. The
above are just few examples relating to the practice concerning moral standards to
the systems and organizations of present-day businesses distributing goods and
services.

Companies following business ethics aim to make full use of their potential
and making their presence felt in the corporate world but at the same time
remaining within the framework of the laws.