15

COLLEGE OF ADMINISTRATIVE AND FINANCIAL SCIENCES

Week 4, 1st Trimester, AY 2021-22
HOMEWORK NO. 1
MARKS

COURSE CODE BSIB522 COURSE TITLE PHILOSOPHY OF BUSINESS AND WEALTH OF

NATIONS

SECTION FB TIME DAYS ROOM

STUDENT NAME ID NO. DATE

Development of Management Theory and Philosophy.

TOPIC
HOME WORK
1. Based on your own understanding explain the philosophy of:
DIRECTION &

REQUIREMENT/S a. Adam Smith

b. Karl Marx
c. John Locke.

ASSIGNMENT

OUTPUT
a. Adam Smith

Smith argued against mercantilism and was a major proponent of laissez-

faire economic policies. In his first book, "The Theory of Moral Sentiments,"
Smith proposed the idea of an invisible hand—the tendency of free markets
to regulate themselves by means of competition, supply and demand, and
self-interest

b. Karl Marx
Marxism is a social, political, and economic theory originated by Karl
Marx, which focuses on the struggle between capitalists and the working
class. ... He believed that this conflict would ultimately lead to a revolution in
which the working class would overthrow the capitalist class and seize
control of the economy.

1
 15
COLLEGE OF ADMINISTRATIVE AND FINANCIAL SCIENCES
Week 4, 1st Trimester, AY 2021-22
HOMEWORK NO. 1
MARKS

COURSE CODE BSIB522 COURSE TITLE PHILOSOPHY OF BUSINESS AND WEALTH OF

NATIONS

SECTION FB TIME DAYS ROOM

STUDENT NAME ID NO. DATE

c. John Locke..

In political theory, or political philosophy, John Locke refuted the theory of

the divine right of kings and argued that all persons are endowed with
natural rights to life, liberty, and property and that rulers who fail to
protect those rights may be removed by the people, by force if necessary.

(See marking Scheme)

RUBRIC / MARKING
SCHEME Rubrics for 4 marks

CRITERIA 5 4-3
2-1
Ability to Always able to Mostly able to Somewhat able
understand understand understand to understand
business business business business
philosophies philosophies philosophies philosophies
Ability to Always able to Mostly able to Somewhat able
demonstrate demonstrate demonstrate to demonstrate
business business business business
philosophies philosophies philosophies philosophies

2
 15
COLLEGE OF ADMINISTRATIVE AND FINANCIAL SCIENCES
Week 4, 1st Trimester, AY 2021-22
HOMEWORK NO. 1
MARKS

COURSE CODE BSIB522 COURSE TITLE PHILOSOPHY OF BUSINESS AND WEALTH OF

NATIONS

SECTION FB TIME DAYS ROOM

STUDENT NAME ID NO. DATE

LEARNING ASSESSMENT/MARKING FACULTY/MARKER’S FEEDBACK

ITEM CILO MARKS MARKS AWARDED

1.a,b,c 1 15

(5 marks
each)

TOTAL 15