Business Ethics and Social Responsibility

Module 4
Framework of Social Responsibility

The fast-growing economy of the Philippines presents several opportunities for entrepreneurs.
Companies can learn from the techniques used by Greek philosophers to achieve success in business. As
you go through this module, you will learn about the classical philosophies for business practices.

Therefore, you are expected to:

1. identify the classical philosophers and their philosophies;
2. make a graphic organizer about classical philosophies; and
3. explain how each philosophy reflects into business practices.

Activity 1
Directions: Based on your life’s experiences, cite things/principles you consider in
your decision-making in five aspects below. Write your answers on a separate sheet
of paper.

1. Love _____
2. Education _____
3. Family _____
4. Friends _____
5. Money _____

Rubrics:
Unity of ideas 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points

LESSON 1
Classical Philosophies Reflecting into Business Practices

Directions: Define the following words and write your answers on a separate sheet
of paper.

1. Ethics
__________________________________________________________________________________
__________________________________________________________________________________

2. Code of Ethics
__________________________________________________________________________________
__________________________________________________________________________________
Activity 2
Directions: Draw things, people, or anything that defines your own “happiness”.
Below the drawing, write a short description or explanation about it. Use a separate
sheet of bond paper.

Rubrics:
Unity of ideas 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points

The Classical Philosophers and Philosophies and Their Implications on Business

1. Socrates (469-399 BCE)- “The Gad-fly at the Marketplace” is one of the few individuals whom one
could say have shaped the cultural and intellectual development of the world for without him, history
would be profoundly different.
This is Socrates’s philosophical idea:
“The unexamined life is not worth living.” Socrates pointed out that human
choice was motivated by the desire for happiness.

Socrates thought of the Entrepreneurs. The Socratic Method is a way of thinking that allows individuals
to define their own purpose of learning and exploring its purpose through open-minded questioning of
what they hold to be true. Socrates insisted on a right to think of ourselves by introducing the
philosophical concept, “Dare to Disagree”.

2. Plato – “The Philosopher-King” is one of the world’s best known and most widely read and studied
philosophers. He was the student of Socrates and the teacher of Aristotle. He wrote in the middle of the
4th Century BCE in ancient Greece. This is Plato’s philosophical idea:
“Good people do not need laws to tell them to act responsibly, while bad
people will find a way around the laws.”

Plato maintains a virtue-based eudemonistic conception of ethics. That is to say, happiness or well-being
(eudaimonia) is the highest aim of moral thought and conduct, and the virtues (aretê: excellence) are
the requisite skills and dispositions needed to attain it.

3. Aristotle – “All or Nothing” (384-322 BCE) is a towering figure in ancient Greek philosophy,
contributing to logic, metaphysics, mathematics, physics, biology, ethics, politics, agriculture, medicine,
dance, and theater. These are some of Aristotle’s philosophical ideas:
“Happiness is the meaning and the purpose of life, the whole aim, and end of
human existence.”

“Let people seek fulfillment.”

The word happiness in ethics is a translation of the Greek term “eudaimonia” which connotes success
and fulfillment. For Aristotle, this happiness is our highest goal. In relation to business, Aristotle
concludes that the role of the leader is to create an environment in which all members of an
organization can realize their potential.
4. Immanuel Kant (1724–1804). “Duty based Ethics”. He is one of the most influential philosophers in
the history of Western Philosophy. He was not concerned with the consequences of one’s actions or the
harm caused to one’s individual interests. Instead, he is focused on motives and the willingness of
individuals to act for the good of others, even if the action might result to personal loss. Doing
something for the right reason was more important to Kant than any particular outcome.

For example, business ethics is littered with cases of companies that have suffered damaging crises due
to their leaders’ lack of commitment to act based on goodwill and about what benefits others.

5. Jeremy Bentham and John Stuart Mill- “Utilitarianism” revolves around the concept of “the end
justifies the means”. It believes that outcomes, as a result of an action have a greater value compared to
the latter.

Utilitarianism is a philosophy or belief suggesting that an action is morally right when the majority of
people benefit from it. Also, the doctrine that an action is right as it promotes happiness, and that the
greatest happiness of the greatest number should be the guiding principle of conduct. Utilitarianism is a
moral theory that advocates actions that promote overall happiness or pleasure and reject actions that
cause unhappiness or harm. A utilitarian philosophy, when directed to making social, economic, or
political decisions, aims for the betterment of society.

Activity 3
A. Directions: Write the business philosophies of each philosopher in the table below. The first one
is done for you. Write your answers on a separate sheet of paper.
Philosophers Business Philosophies
Socrates The unexamined life is not worth living.
Plato
Aristotle
Immanuel Kant
Jeremy Bentham and John Stuart Mill