LESSON 7

IMPACT OF BELIEF SYSTEMS IN

BUSINESS
AN INTRODUCTION TO CHRISTIANITY

As the world largest religion, Christianity has

more than two billion followers worldwide.
It is a monotheistic religion based on the
teachings of Jesus Christ as the Son of God
and savior. Christians believe in the Holy
Trinity as forms of the same God.
Jesus Christ
• was a Jew who was born in 1 CE in Bethlehem to
an Israelite virgin named Mary who becomes
miraculously pregnant.
• also known as the Son of God, Light of the
World, Lamb of the God, and The Good
Shepherd.
Christian Beliefs (One God)
• As a monotheistic religion, Christian believe in one God,
the creator and of life.
Justification by Faith
• Christians are taught that salvation occurs with
faithfulness and each must live in accordance with the
principles of love.
Eternal Life
• Christians believe that there a life after death.
Heaven is the final destination of believers.
Saints
• Saints are recognized when they have lived
particularly good and holy lives, with whom
miracles are claimed to have been associated after
their death.
Prayers and Rituals
Prayers
• It is way to communicate with god. Prayers can be
formal and ritualistic but they can also be personal and
spontaneous.
Church
• The church is a structure used for religious activities
and worship.
Priests
• Priests, ministers, and vicars are the spiritual leaders
of Christians.
Bible
• The Bible is the holy book and a product of divine
inspiration and considered by believers as a infallible
Word of God.
Eucharist
• celebration during Mass to commemorate the final
meal that Jesus took with his disciples before
crucifixion.
Second Coming of Jesus
• According to the gospels, the return of Jesus to Earth
after his ascension to heaven 2000 years ago will come
after the apocalyptic signs.
Impact of Christianity in Business Practices
• Christians glorify in many ways, through worship,
evangelism, giving alms, having faith and doing actions
in imitation of god.
1. In Producing Goods
2. In Employing People and Being Employed
3. In Buying and Selling
4. In Earning Profit
 AN INTRODUCTION TO ISLAM
• The word salam (Islam) is literally as “peace” or
“submission”. A follower of Islam is called a
Muslim, an Arabic word that refers to a person
who submits himself/ herself to will of Allah.
The Arabic word Allah means “the One True
God”.
Muhammad
• Muhammad was born in the late 6th century CE. He
was orphaned early and was brought up by his uncle.
He worked as shepherd and was taken on a caravan to
Syria by his uncle. He met many people of different
religious beliefs and was able to learn about Judaism,
Christianity, and pagan religious. Muhammad became
the most powerful leader in Arabia.
Islamic Beliefs
Five Pillars of Islam
• The pillars of Islam play important roles in the
intellectual and social dimension of Muslim.
1. The Shahada (Witness) 4. The Siyam (Fasting)
2. The Salat (Prayer) 5. The Hajj (Pilgrimage)
3. The Sakat (Alms)
Articles of Faith
Muslim also believe in six pillars of Iman (faith).
1. One God
Muslims believed in a single, indivisible God who is
omnipotent and merciful.
2. Angels
They also believe in angels (malak in Arabi, which means
“messenger”).
3. Belief in God’s sacred books
The sacred books include Tawrat (Toraj), and the Injil
(Gospels), Zabur (Psamls) and Qu’ran. It gives moral
guidance the sourcebook for Islamic Priciples and
values.
4. Belief in Prophet’s Sunnah
The prophet’s sunnah (words, actions, and personal
characteristics) is collected into the Hadith (reports)
which supplements and assists the interpretation of
Qu’ran. Apart from these, Muslims defer to madh’habs.
These schools of thought from the learned consensus
of Ulema (scholars) and reasoning by analogy from
accepted interpretation and the Qu’ran and sunnah to
new problems not directly addressed therein.
All this sources from a concept of revelation of
God’s will to the community which includes serious
instructions on topics of crime politics, economics,
as well as personal issues, such as hygiene, diet,
prayer, etiquette, and sexual activity. It is considered
as the infalliable law of God.
5. Day of Judgement
On the day people will be judge on the basis of their
good and bad deeds while on Earth.
6. Qada and Qadar (Predestination)
There is a predestination of all things in and events.
Allah brought everything to existence in accordance to
his knowledge and design.
Denominations
All of the major religious of the world have split into
many parts and further into sects. Within Islam, the main
divisions are Sunni and Shia. The split continues to cause
strife among Muslims.
Impact of Islam to Business Practices
The Islamic code of ethics is governed strictly so
that Muslims are required to behave in accordance to
it because all dealings are witnessed by Allah.
Adherence to the moral code and ethical behavior is
part of the Six Pillars of Iman.
• 1. Practice freedom of enterprise.
• 2. Be honest and truthful.
• 3. Trade through mutual consent.
• 4. Treat workers fairly
• 5. Keep one's word.
• 6. Be humble.
• 7. Seek halal earnings.
 AN INTRODUCTION TO BUDDHISM
Buddhism is a nontheistic religion based on the teachings of
Siddhartha Gautama. Even if it is not based on the idea of
God, people still refer to it as a religion. The Buddhist way to
life is based on a life of peace with universal love and
compassion, omniscient wisdom, and boundless spiritual
power. Happiness and good fortune arise from peaceful and
positive states of mind, while problems and suffering arise
from confused, negative states of mind.
Siddhartha Gautama
• Buddha (enlightened one in Sanskrit) refers to the
founder of Buddhism, Siddhartha Gautama. He was
the son of King Suddhodana and Queen Maya of the
Sakya clan, whose capital was Kapilavastu (present day
Nepal).
Buddha taught methods for overcoming negative states,
such as anger, jealousy and ignorance. One must also
develop the positive mindset with love, compassion and
wisdom.
• There are about 500 million Buddhists worldwide,
making Buddhism one of the world's major religions.
• King Suddhodana determined for his son to be king,
prevented Siddhartha to leave the palace grounds.
Siddhartha was shielded from religious teachings and
from knowledge of human suffering.
• He was raised by his mother's younger sister, Maha
Pajapati, after his mother's death seven days after
childbirth. He later married Yasodhara at age 16 and
has a son, Rahula.
 History of Buddhism
At age 29, despite his father's efforts, Gautama
ventured outside the palace and encountered the sick,
the aged, the suffering, and the dead for the first time.
He also met an ascetic holy man who was content and
at peace with the world. Thus he began his quest for
spiritual life of meditation.
• After six years of his journey, he attained
enlightenment under the Bodhi Tree in India. He
liberated from the cycle of suffering and rebirth,
arose, and attained enlightenment.
Buddhist Beliefs
• At the heart of Buddhist teaching are the Four
Noble Truths: (1) There is suffering that is
ingrained and part of life; (2) suffering is due to
the attachment of things; (3) there is cessation to
suffering; (4) and there is a life path to end
suffering.
• Nirvana is the state of perfect peace of mind that is
free from ignorance, greed and hatred. One can follow
the Eightfold Path to attain Nirvana by having the
correct focus and behavior.
The Noble Eightfold Path
• In Buddhism, the mind is a formless continuum that is
separate from the body. When one dies, the body
disintegrates, but the mind does not cease to exist. It
goes into a deeper level of consciousness called subtle
mind. When completely purified, the subtle mind
transforms into the omniscient mind of Buddha.
• Buddhist understand the law of Karma as the basis
for morality.
• Buddhist also believe in reincarnation.
Impact of Business Practices
• One must free oneself in temptations, cravings, and
distractions.
• Buddhism's main tenet is to do not harm. An analysis
will show that Buddhism can affect business practices
positively.
• Buddhist principles also teach that opportunity favors
the hard worker. If one has good work ethics and
attitude, very little will stand in his/her way.
• Practicing mindfulness can be a key to good business as
it helps one to work smartly. The mind and the heart
have to be balanced, objective, and mindful of pride.
• The Eightfold path states one must see reality unfiltred,
say the truth, practice non-harm in words and actions,
and commit no wrong.
• Buddhist are reminded to be mindful and to keep calm.
• The basic principle in Buddhism is nonexploitation.
It emphasizes that there is no need for a connection
between what is given and what is received.
AN INTRODUCTION TO JUDAISM

Judaism is the oldest monotheistic religion in the world,

but the smallest major religion with 18 million followers.
A vast majority of Jews are in the United States and
Israel while the rest are scattered in Europe, Latin
America, Canada, Africa, Australia, and Asia.
• Emphasizes justice, charity, modesty, and doing good
deeds.
Abraham and Moses
• Abraham is considered the father of Jewish people.
• God has promised to bless Abraham and all his
descendants but he must faith and obey God.
• Moses freed the Jews from slavery.
 Jewish Beliefs
One God
• There is only one God, creator of the Universe, and
main power in the Universe.
• Man is created in the image of God and is given free
will, therefore, responsible for his actions and God will
judge the person in the end of days.
Jewish Identity
• “Jew” is used to refer to all the descendants of Jacob
(son of Isaac) and Judaism is used to refer to their
beliefs.
• Jews were originally called Hebrews. Hebrew was
derived from “eyver” which means “the other side”.
Holy Book
• The Yad, more commonly known as Torah pointer, is
used to follow the text during the Torah reading.
• The Talmud, the oral Torah, contains collective stories
and explanations, laws, moral discussions, and medical
knowledge.
• TaNaCh is the acrostic for the three groups of books
of Jewish scriptures.
• Ta is for Torah. The Torah is the most important of
the Jewish writings comprised of the first books of
the Hebrew Bible. The written Torah describes the
history of the Jews until the death of Moses. The two
other parts of the Holy Book are group into Nevi’m
(Na) for the prophets and Kethuvim (Ch) for the
writings.
Israel
Jerusalem is the holiest city and the capital of Israel.
The Mashiach (Messiah)
• The Torah says that a anointed one will come to Earth
and save the Jews.
Rabbis and Synagogues
• Rabbis are the spiritual leaders educated in halakhah or
Jewish laws and traditons to lead the community and
provide guidance and education.
Sabbath
• A Jewish holy day that begins at the sunset on Friday
until the sunset on Saturday. It is a day of rest to thank
God for creating the universe.
Life Events
• At 8 days old, the brit mila, which is a circumcision
ceremony and a baby naming ritual, is performed.
Jewish families also hold Bar Mitzvah, which is coming
of age celebration for boys when they turn 13 years
old. Girls celebrate Bat Mitzvah when they turn 12
years old. The term Bar/Bat Mitzvah means
“son/daughter of the commandments”.
• Jewish wedding ceremonies differ from other
religious weddings. The first part called kiddushin
involves the groom giving the bride a ring, followed
by the reading of the marriage contract.
• Called a ketubah, the contact includes the terms of
marriage and divorce.
• The second part of the wedding is called the Nisuin
wherein the couple stands under the chuppah, which is
traditionally a decorated four-poster canopy.
• Guest would cheer “Mazel tov!” to congratulate the
couple.
Jewish Laws
• The Halakhah means “the path that one walks”. It is
asset of rules and practices followed by the Jews based
from the torah and Talmud.
Kosher Food
• Kashrut is the set of religious rules that Jews follow in
preparing kosher food.
• Kosher food means that the foods conforms to Jewish
laws.
Forms and Denominations
Rabbbinic Judaism is the main movement that is
characterized by the belief that the written Torah has to
be interpreted with the oral Torah. There are three main
denominations under the Rabbbinic Judaism including;
 Orthodox Judaism
• Believe that laws given by God are timeless and can
never be changed.
Reform Judaism
• With strict dietary requirements and Sabbath but
focuses on the moral laws of the religion and
emphasizes personal connection to traditions.
Conservative Judaism
• This movement was developed after leaders found
Reform Judaism too radical and wanted to preserve
Jewish traditions instead of changing the laws.
Karaites and Samaritans
• Only accept the Hebrew bible as authoritative scripture
for their community.
• Samaritans base their faith on the written Torah with
emphasis on the Samaritan Book of Joshua.
Impact of Judaism in Business Practices
• There are 613 mitzvoth (commandments) that are equal
in importance to the “ten commandments”. “ The
mitzvoth are taken from the written and oral Torah.
Many pertain o doing business in accordance to Jewish
laws.
Business in Good Faith
• Business activity is in itself a holy activity and one
should seek to conform to Jewish laws. Jews should be
honest. As traders, they are prohibited to commit
fraudulent actions in buying and selling goods.
• It is the obligation of Jews to avoid poverty by earning
a living through gainful employment. One must not
borrow on interest because it causes the lender to sin.
• Pledges for money lent were taken, but Jews are
reminded not to take pawn, such as utensils used in
preparing food. One should not exact a pledge by
force and to always return the pledge to its owner.
 Treatment of Workers

• Jewish laws state that everyone must be treated with

respect and dignity, appropriate wages must be paid on
time, and mocking or embarrassing workers are
prohibited.
Trading
• After their exile, the small Jewish community had little
trading activity except in Jerusalem. When Islam and
its control over European lands gained popularity,
Jewish commercial activities rose with it. Christians do
not trade with Muslims transact with Christians.
 Religious Influences in Banking and
Finance

• Religious systems in the past has great influence

over how people dealt with finances.
Judaism
• The torah criticizes charging interest to fellow Jews but
obligates fees in transactions with gentiles or non-Jews.
This situation led the money-lending activities where
they couls source produce from pledges, eventually
leading to innovations in modern banking and
commerce.
 Islam
• The Qu’ran strictly prohibits lending money on
interest, and making money through unethical means is
haram. Despite the prohibition on riba or ursury, the
Islamic banking model found ways to operate for profit
and still be complaint to Shari’ah laws.
• They experiment on profit sharing schemes where
financial institutions paying for the capital get a specific
portion of profit. Another scheme is to lease asset to
the business and earn through the payments.
 Christianity
• Christian churches also banned interest charges, as it is
considered to be taking advantages of other people’s
misfortune. It is morally wrong because it amounts to
double charging –for the item or money, then, charging
for the use of the item or money. In modern times, the
prohibition has not been enforced.