Week 5

The IMPACT of
BELIEF SYSTEM
in
BUSINESS
PRACTICES
LEARNING
OBJECTIVES

1. Define belief system in business;

2. enumerate examples of belief systems that
affect business practices; and
3. give examples of how belief system affects
business practices.
Can you name a philosopher and
explain how his/her philosophies
has influenced business practices?
 Read the situation below and answer the given
questions.

One day, you and your female friend went to

the market to buy washable face masks. The stall
owner, who was wearing hijab approached the
two of you. Your friend could not control her
giggles while the Muhaajaba was talking. As a
response, the stall owner got mad and shouted at
you and your friend.
 QUESTIONS:

1. What would say to the stall owner?

_________________________________
_________________________________
2. What advice would you give to your friend?
_________________________________
_________________________________
WHAT IS
?
 BELIEF SYSTEMS
• Ideology, or set of principles that helps us to
interpret our everyday reality.

• The belief system of a person or society is the

set of beliefs that they have about what is right
and wrong and what is true and false.
 THE IMPACT OF BELIEF SYSTEM IN
BUSINESS PRACTICES
3 4

2
1
8 7 6
5
 JUDAISM (Torah)
• Jews believe there is one God.
TORAH • Judaism has greatly influenced marketing and business
• written law of Judaism ideology.
TALMUD
• comprehensive written • Talmudic tradition: in one’s judgment in the next world,
version of oral laws of the first question asked is:
the Jews
“Were you honest in business?”

IMPACT market honesty, fair pricing, and business relationships

JUDAISM in Business Practices
1. Honesty on the market
It is illegal for traders to falsify the weight and measurement of
the goods or products.
2. Fair pricing
You shall not cheat each other when you sell something to your
neighbor or buy something from him or her.
3. Business relation
Emphasis on employer’s proper treatment of workers; and for
workers not to waste time at work
 CHRISTIANITY

Bible • The Bible is the guidelines of business ethics

• God’s word
• They are deeply concerned with the ethical behavior of
GOLDEN RULE human creatures towards one another.
• Do unto others as you
would have them do
unto you. – Matt. 7:12

IMPACT Golden rule, justice, charity, generosity and stewardship

CHRISTIANITY in Business Practices
1. Golden Rule
Treat your employees as you would want to be treated, and they will
work harder.
2. Justice
Strict adherence to contracts and/or compliance with regulations
3. Charity/Generosity
If a person buys from a poor seller, that buyer must exercise charity.
He/she must pay the full price that the goods are worth.
4. Stewardship
• Employees should find their work meaningful and inspiring.
• Work for the common good.
 ISLAM (Qur’an)

Qu’ran • Prophet Muhammad emphasized that honesty and kind

• the source of rules dealings with customers are the secrets of business
success. He considers betraying trust as one of the signs
of hypocrisy. He also teaches truthfulness and
proficiency in all aspects of life.

IMPACT no fraud, and compassion

ISLAM in Business Practices
1. No Fraud or deceit
Under Islamic law, if a seller sells an item by making false
statements, the buyer shall have the right to cancel the transactions.

2. Agreement
• Contracts must be fair to both or all parties
• Mutual consent is necessary

3. Compassion
• When anyone is in bankruptcy or is suffering financial reversals, one
should not put pressure on them.
• Hoarding is forbidden
ISLAM in Business Practices
4. Sharia Law
• For example, the Sharia dictates gambling is impermissible or
‘haram’.
• Usury: Interest is prohibited. That is probably the most common
thing that is identified with Islamic finance.
 HINDUISM

• Ethical principles of Hinduism: ahimsa (non-

violence),detachment (abandonment of the fruits of the
action), truthfulness, not to steal, self-control, discipline,
appropriate words and thoughts, and motivation to
achieve the goal.

IMPACT Integrity, understanding, excellence, unity, and responsibility.

HINDUISM in Business Practices
1. Integrity
To conduct business fairly, with honesty and transparency
2. Understanding
To be caring, show respect, show compassion, and humanity for all
colleagues and customers.
3. Excellence
To achieve the highest possible standards
4. Unity
To build a strong, understanding, and mutual cooperation.
5. Responsibility
To ensure that what comes from the people goes back to the people many times over
 BUDDHISM (Buddha)
• Founded on the teachings of “Buddha” or “the
enlightened one”, is Buddhism.
• From the beginning, the basis of Buddhist practice was
meditation and the observance of moral precepts. The
five fundamental moral precepts are: refraining from
taking property, behaving unchastely, speaking wrongly,
stealing, and drinking intoxicants.

IMPACT Working hard, empathy, flexible, innovative, and mindful

In business, Buddhists are guided by the following principles:
1. The goals should be defined
The clearer the goal is, the easier it is to be defined.
2. The principle of cause and effect should be followed
We begin to trace back the logical sequence of acts which would contribute to a given
goal.
3. Empathy & compassion for the customers have to be developed
A customer-first or a user centered approach in business.
4. Be flexible, innovative, and mindful of impermanence
Buddhist theory puts into practice another useful insight: everything is constantly
changing—we ourselves, the world, and all the people around us.
5. Your team, yourself and the consumer have to be respected
The Buddhist ethics is based on the non-violence principle.
BUDDHISM in Business Practices
1. Work Hard, No Excuses. 2. Work Hard but Rest Well
Opportunity favors hard worker. Enjoy the fruits of your labor.

3. Follow the Eightfold Path

4. Serve others

5. Take one step at a time

 CONFUCIANISM
• Confucius believed that leaders were expected to rule in
a way that is just and moral. This view of practice could
GOLDEN RULE
• Do unto others as you
have the potential to create entrepreneurs who perform
would have them do ethical business practice. Under Confucian values, if
unto you. – Confucius businesses are governed righteously, they will succeed.

IMPACT humanness, integrity and loyalty

Ethical teachings include the following values:
Ren benevolence, humaneness towards others
One must balance ethics while pursuing profit.

Li includes ritual, propriety, etiquette, etc.

Quality services and politeness to customers must be priorities.

Xin honesty and trustworthiness

Maintaining a harmonious relationship is necessary.
Filial Piety
It is respect for one’s parents and ancestors.
 TAOISM (Daoism)
• Tao is really Nature's way: the order,
YIN YANG course of pattern of all things created.
• Yin and Yang are • The Tao never acts with force, yet there is nothing that it
symbols of the Tao.
They are the dynamic can not do.
force of the Tao, • Taoist Success Formula: S=P+O
constantly interacting
with one another.
Success is the sum of preparation and opportunity.

IMPACT The Way (Tao), balance, good behavior, & leadership by example
 SHINTOISM (The Way of the Gods)

• Everything has a Soul. Japanese sees work as self expression.

• Superiority of Groups
• The Four Circles of Business Relationships: family circle; fellow circle;
Japan circle; and all competitors around the world
• Perception at Work. In Japan, the company name is more important than
what they do (job title).

Shin” – spirit
“To” – a philosophical path or study  
Directions: Considering your religious affiliation, write at least two practices
in business that you follow as its active member.

(My Religion)
Two best practices that I follow:
1.
_____________________________________________________________
2.
_____________________________________________________________
QUESTIONS:
What do you mean by belief
system?

What are the belief systems that

affect business practices?

How each belief systems affect

business practices?
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

1. JUDAISM
Time at work

Dignity

Stewardship
ANSWER #1

1. JUDAISM
Time at work

Dignity

Stewardship
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

2. CHRISTIANITY
generosity

no monopolies

justice
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

2. CHRISTIANITY
generosity

no monopolies

justice
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

3. ISLAM
honesty

proficiency

unity
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

3. ISLAM
honesty

proficiency

unity
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

4. HINDUISM
integrity

be mindful

responsibility
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

4. HINDUISM
integrity

be mindful

responsibility
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

5. BUDDHISM
humanistic

serve others

balance
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

5. BUDDHISM
humanistic

serve others

balance
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

6. CONFUCIANISM
loyalty

filial piety

the way
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

6. CONFUCIANISM
loyalty

filial piety

the way
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

7. TAOISM
Daoism

The one

good behavior
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

7. TAOISM
Daoism

The one

good behavior
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

8. SHINTOISM
trust

spirit

group
Cross out which among the words/phrases
inside the box (of a particular belief) does not
belong to it.

8. SHINTOISM
trust

spirit

group
WRITTEN WORK #5
 ASSIGNMENT
Here are the 7 Success Principles from the Ancient Book of Proverbs for Your Money,
Work, and Life from Bo Sanchez’s book entitled “Nothing Much Has Changed”.
For every principle, write your interpretation (while you imagine yourself as a successful
entrepreneur).
1. Evaluation. We need to take a look on why our harvests are small.
Reasons: fear, laziness, and pride. Proverbs 26:13-16, TLB 3.
2. Execution. Success is all about execution. Proverbs 14:23, NLT fail tiny; fail many; fail quickly
3. Endurance. Success… usually happens in decades. Proverbs 13:11, NLT
4. Education. Have your personal and virtual mentors. Proverbs 15:22, TLB
5. Envision. Make your vision. Marry your vision. Manage your vision. Proverbs 21:5, GNT
6. Emptiness. Use your pain, struggle, rejection, discomfort, and the likes as fuel for success.
Proverbs 16:26, TLB
7. Expectation. Have a prosperity mindset. Proverbs 16:3, TLB