Value Implications
CHRISTIANITY Protestantism:
- Hard work and wealthy
creation.
- Frugality (abstinence from
worldly pleasure).
-Calvinlism, according to Weber,
Capital was seen as something
to be increased, not something
to be consumed.
- By the middle of the
seventeenth century, usury was
finally accepted.
- Individual religious freedom
 Individualism
ISLAM - Forbids the consumption of
pork and alcohol,…Halal
certification is a process
through which food products
and meat are verified to comply
with Islamic dietary laws.
- Worldly gain and temporal
power are an illusion
- Religion is paramount in all
areas of life. Life is shaped by
Islamic values and norms of
moral conduct. Islamic law
(Koran) is source of state’s law.
But market-based systems
Islamic Fundamentalism:
- Against globalization and
prevalence of Western.
- Islamic fundamentalists is on
the rise.
-Prohibits the payment or
- People work hard and
systematically cumulate wealth.
- Prevent using money, asset
extravagantly.
- Motivate investing wealth in
the expansion of capitalist
enterprises.
- The emergence of banking
system which help enterprise
facing difficulties by loans.
- Pave way for individual
economic and political freedom.
 entrepreneurial free market
capitalism
- Exporter or intend to export to
countries with a majority of
Muslims need Halal
certification.
- All entrepreneurs are willing to
delay work for praying 5 times a
day.
- International business are
accepted and welcomed as long
as those businesses behave in
as manner that is consistent
with Islam ethics
- Anti Western governments,
cultural symbols, business, and
even individuals.
- Hostility toward Western-
owned business is likely to
increase.
 receipt of interest. (because the
Koran clearly condemns
interest)
- Social pressures created in
traditional Islamic societies by
the modernization and the
influences of Western ideas
(liberal democracy, materialism,
equal rights for women,
attitudes toward sex, marriage
and alcohol,..)
- Iran, Afghanistan.
- Approve free-enterprise and
earning legitimate profit (not
based in exploitation of others)
- Legitimate profit is used in a
righteous, social beneficial, help
the disadvantaged.
HINDUISM - Ascetic principles in Hinduism
do not encourage to pursuit
wealth creation.
- Women’s power are limited.
- Support India’s caste’s system,
Banking methods:
-Mudarabah: Dispositors send
money to bank in a saving
account. Then bank lends
money to a business and then
takes a share in the profits that
are derived from the
investment.
-Murabaha (the most widely
used among the world’s Islamic
banks): is a sort of credit
transaction in which the buyer
and seller agree on the pricing
and markup of an asset. The
bank buys the asset on behalf of
the client and then resells it to
the client for a profit.
- Hold back the development of
economic. However. Business
activity is still really dynamic
due to specialization in
technology.
- The workforce of women are
decline with less productivity
requirement and pay less.
- Limit individual’s opportunities
 so it’s difficult for individual to
be in a higher caste.
BUDDHISM Does not support the caste
system, the extreme ascetic
behavior.
CONFUCIANISM - Loyalty
- Reciprocal obligation
- Honesty to dealing with other
to be promoted or find their
route to the higher levels of the
organization.
A more fertile ground for
entrepreneurial activity.
- binds employees to the heads
of organization can reduce the
conflict between management
and labor
- Guanxi Wang (relationship
network) which helps building
long term business
relationships.
- Close ties between suppliers
and companies are facilitated
for work on a range of issues:
inventory reduction. Quality
control, design,…
- Enforce agreements between
business more than Chinese
legal system
- The cost of doing business is
lower (cut cost of resolving
contract disputes).