Business Ethics and

Social Responsibility
Quarter 3 – Module 5: The
Impact of Belief System
in Business Practices
 Business Ethics and
Social Responsibility
Quarter 3 – Module 5:
The Impact of Belief System in
Business Practices
Introductory Message
This Self-Learning Module (SLM) is prepared so that you, our dear learners,
can continue your studies and learn while at home. Activities, questions, directions,
exercises, and discussions are carefully stated for you to understand each lesson.

Each SLM is composed of different parts. Each part shall guide you step-by-
step as you discover and understand the lesson prepared for you.

Pre-tests are provided to measure your prior knowledge on lessons in each

SLM. This will tell you if you need to proceed on completing this module or if you
need to ask your facilitator or your teacher’s assistance for better understanding of
the lesson. At the end of each module, you need to answer the post-test to self-check
your learning. Answer keys are provided for each activity and test. We trust that you
will be honest in using these.

In addition to the material in the main text, Notes to the Teacher are also
provided to our facilitators and parents for strategies and reminders on how they can
best help you on your home-based learning.

Please use this module with care. Do not put unnecessary marks on any part
of this SLM. Use a separate sheet of paper in answering the exercises and tests. And
read the instructions carefully before performing each task.

If you have any questions in using this SLM or any difficulty in answering the
tasks in this module, do not hesitate to consult your teacher or facilitator.

Thank you.
 What I Need to Know

Here in the Philippines, we have so many religious groups where people go to

or join in to express their deep faith and love of God, while also influencing their
business principles or practices. Try to familiarize yourself with these because in this
lesson, you are expected to:

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.
(ABM_ESR12-IIIe-h-2.2)

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 What I Know

A. Directions: Match the terms in Column A to their corresponding description in

Column B. Write the letter of your answer on a separate sheet of paper.

A B
1. Islam a. It follows the Old and the New Testaments.
2. Christianity b. It was founded on the teachings of Buddha.
3. Hinduism c. Its written law relies on Torah.
4. Judaism d. They believe in Brahman.
5. Buddhism e. Its source of rules is the Qur’an.

B. Directions: For 6-15, identify what practice/principle is described in each number.

Choose your answers from the box and write the letter of your answers on a separate
sheet of paper.

a. Islam b. Christianity c. Hinduism

d. Judaism e. Buddhism

__ 6. They have a positive attitude towards business and wealth creation.

_7. Wealth is not their ultimate goal.
_8. They pursue right livelihood.
9. Charity and justice in business must be exercised.
10. They comply with the regulations and strictly adhere to contracts.
11. Business should be conducted in accordance with the rules of nature which
God governs.
12. Fair pricing and good business relations should be applied.
13. Businessmen should really care for the environment.
14. They apply market honesty.
15. They put restrictions on misleading advertisements.

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 Lesson Belief Systems and Their
1 Influence in Business
Practices

What’s In

Directions: Name at least three philosophers and explain how each of their
philosophies has influenced business practices. Write your answer on a separate
sheet of paper.

1.

2.

3.

Notes to the Teacher / Facilitator

This lesson includes sensitive topics. Emphasize to the
students the value of respect, especially to people whose religion is
different from theirs. Tell them also to be careful in giving examples
and refrain from giving negative comments.

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 What’s New

Directions: Read the situation below and answer the given questions on a separate
sheet of paper.

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.

What are you going to tell the stall owner? (5 points)

What advice would you give to your friend? (5 points)

Rubrics:
Correctness of answer 3 pts.
Mechanics 2 pts.
Total 5 pts.

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 What is It

The unseen force underlying our actions is our belief system. Throughout our
lives, human beings accumulate thousands of beliefs on all facets of life. We obtain
them from things other people tell us, things we hear on the news, things we read, or
any other external influences we are subjected to. All of these beliefs interact with each
other, affect each other, and create a system together.

Along with other influences such as our personality, genetic set-up, and
behaviors, our belief system, such as religion, is one of the greatest forces influencing
every decision we make.

Religion highly affects our lives, whether personal or not. Some of the world’s
major religions are Christianity, Judaism, Islam, Buddhism, and Hinduism.
Each has its own organized system of beliefs, ceremonies, and worship, and each
one offers prescriptions for a positive effort in both life and business.

1. Christianity
The Christian religion follows the Hebrew Bible by taking a positive view of
physical and human creation and by seeing God as deeply concerned with the ethical
behavior of human creatures towards one another. It also teaches that in the persona
of Jesus of Nazareth, Christ entered history to redeem humanity from the self-
inflicted wounds of sin and to create a new age in which humanity will come to live
God's own life of love, peace, unity and justice. The Old and the New Testaments
serve as the foundation of this religion.

In Christianity, human dignity and concern for people are crucial. This religion
also emphasizes a sense of justice in business such as strict adherence to contracts,
compliance with regulations, and working for the benefit of the common good.
Christians ought to focus on how business impacts individuals, the workers in
particular. They should be well-paid and they should find their work meaningful and
inspiring.

A trading Christian does not try to win another's products or services for less
than it is worth. One should not want to get a decent deal for his own wares by using
extortion. If a person buys from a poor seller, that buyer must exercise charity and
justice. He/she must pay the full price that the goods are worth. If friends and
relatives are not interested in what a Christian vendor sells, the latter should not
break off connection with them when they decided to choose differently.

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 Christians should be transparent and honest with their dealings, products,
and services. They should not push people to buy goods or services because it does
not reflect the heart of the Father, but that of mammon’s (according to Webster
Dictionary, mammon means material wealth or possessions especially as having a
debasing influence).

2. Judaism
Jews believe there is one God, who not only created the world, but who every Jew
should have an intimate and interpersonal relationship with. They believe that God
works continuously in the world and affects all that people do. Further, there is a
covenant relationship between God and the Jews in exchange for the many good
deeds God has done for the Jewish people and continues to do.

Judaism, which for its written law relies on the Torah, has greatly influenced
marketing and business ideology. Jewish culture, values and ideas, including the
modern market, have penetrated many aspects of modern life. Some important points
include market honesty, fair pricing, and business relationships.

Honesty on the market. It is illegal for traders to falsify the weight and
measurement of the goods or products.

Fair pricing. There should be good value for money. You shall not cheat each
other when you sell something to your neighbor or buy something from him or her.
Likewise, if a person is ignorant of the true worth of an item and wants to sell it, the
buyer should not take advantage of the confusion and underpay the seller. The
Talmud (comprehensive written version of oral laws of the Jews) cares much about
price control.

Business relations. Employers are obligated to pay workers on schedule. One

of the guiding principles for business ethics highlighted in the Jewish tradition is the
legitimacy of business activity and profit, conducted within a framework of religious
and ethical norms.

Truly, business ethics occupies such important place in Jewish laws, culture,
and tradition that at the final judgment, the Talmud has this to ask an individual:
"Were you honest in your business dealings?"

In Judaism, work, including manual in nature, is held in great esteem like a

sort of human partnership with the divine.

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 3. Islam

Muslims believe in the Oneness of God—- that all things are created by God
and that He is all-powerful and all-knowing. They further believe that God has no
offspring, sex, class, body, and He is not affected by human life's characteristics.

For Islam, the source of rules is the Qur'an. Islamic teachings place great
emphasis on respect for ethical and moral codes in human behavior. Islamic
principles prevent abusing people through putting restrictions on misleading
advertisements. Under Islamic law, if a seller sells an item by making false
statements, the buyer shall have the right to cancel the transactions.

Additionally, according to Hayes (1998), the following principles are expected

among Muslim businessmen:
a. Contracts must be fair to both or all parties.
b. Speculation, such as gambling, is not allowed. If the money comes from the
gambling industry, one will not be allowed to invest in the Islamic Mutual
Fund.
c. Interest is prohibited. That is probably the most common thing that is
identified with Islamic finance. One moral practice is that one is not allowed
to charge or take interest.
d. When a business is in trouble, compassion is required. In every country that
has Islamic traditions in its legal system, when anyone is in bankruptcy or is
suffering financial reversals, one should not put pressure on them. Because
when someone is down, it is not the right thing to do. When they are down,
one does not kick them.

Muslims also believe that business should be conducted in accordance with

the rules of nature which God governs.

4. Buddhism
Founded on the teachings of Siddhartha Gautama, who is called “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 practiced by
members of the monastic orders and the laity are: refraining from taking property,
behaving unchastely, speaking wrongly, stealing, and drinking intoxicants.

In business, Buddhists are guided by the following principles:

a. The goals should be defined.

The clearer the goal is, the easier it is to be defined. Is it about gain? Is
it giving satisfaction to your customers?

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 b. The principle of cause and effect should be followed.
We need to use intuition in the case of a business proposal to work out
the factors that would take us to our ultimate aim. The process resembles
reverse engineering. We begin to trace back the logical sequence of acts which
would contribute to a given goal. This framework helps identify the steps
needed to accomplish the aim and provides a clear basis for a project roadmap.

c. Empathy and compassion for the customers have to be developed.

It is crucial to understand the challenge that our potential customers
may encounter, and to have an empathic approach towards it. We need to
recognize and always keep in mind the problem that our target customers have
in their life and try to solve this issue in the best possible way based on that
understanding. Compassion is the basis for a customer-first or a user-
centered approach in business.

d. 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.
It is very easy to get caught with an idea that seems logical and solid, but it
often becomes a trigger for narrow-minded thinking, stubbornness, and
inflexibility in a rapidly changing reality.

e. Your team, yourself and the consumer have to be respected.

The Buddhist ethics is based on the non-violence principle. They know
everyone deserves to be happy and does not want to struggle. If we base our
actions on that understanding and try not to harm others, we gain their
respect and confidence. It brings trust and understanding in the team if we
respect our colleagues. We try to stop doing something offensive behind or in
front of people and make ourselves transparent.

The Buddhist business code and professional ethics are also closely tied
to being environment-friendly. Buddhists pursue the "right livelihood" and are
usually against businesses that do not really care for the environment or harm
animals. Essentially, according to Buddhist teachings, the principles of ethics
and morals are governed by examining a certain action that must avoid any harm.

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 5. Hinduism
Hindus believe in one true, formless, boundless, all-inclusive and eternal God
called Brahman. He is not an abstract concept but a real entity that everything in
the universe (seen and unseen) encompasses.

Hinduism is not an organized religion, and its value system has no single,
systematic approach to teaching nor do Hindus have a simple set of rules, like the
Ten Commandments to follow. Whatever practices (local, regional, caste and
community-driven)—throughout the Hindu world influence the interpretation and
practice of beliefs.

Hindus have a positive attitude towards business and wealth creation, yet
wealth is not the ultimate goal. What is more important are ethics (dharma), and
salvation (moksha).

For business, prices and profits should be fair. Tax system should give
reasonable rates, should be economical in its implementation, and should not have
adverse impact on economic growth. There must be high taxes on luxury goods.
Workers should receive fair and just wages, depending on their ability and
productivity.

It is worth noting, overall, that every faith has its own biases. Nevertheless,
each of them has the core concept that faith would give rise to a commitment to
maintain a desirable work climate. This is why our society cannot remove the effect
of religion on modern business. We should be mindful of disparities in beliefs among
various cultures and accept them. While there are global ethical standards, we must
also show respect for each community's different values.

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 What’s More

A. Directions: Write the business practices or principles of each religion in the table
below. The first given will serve as your guide. Copy the table and write your answers
on a separate sheet of paper.

Religion Business practices/principles

Strict adherence to contracts;
Compliance with regulations;
Work for the benefit of the common good;
Christianity No use of extortion;
Charity and justice must be exercised; and
Fair wages to workers.

Judaism

Islam

Buddhism

Hinduism

B. Directions: Using your answer in activity A, answer the question below in at least
two sentences. Write your answers on a separate sheet of paper.

Which religions are similar? In what way?

Rubrics:
Correctness of answer 3 pts.
Mechanics 2 pt.
Total 5 pts.

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C. Directions: Choose one belief system and create an acrostic for its business
practices or principles. Write your answers on a separate sheet of paper.

Example: Christianity (CROWN)

C- omply with regulations

R- espectfully and strictly adhere to contracts
O- nly get a decent deal
W- ork for the benefit of common good
N- o use of extortion
Rubrics:
Correctness of answer 5 pts.
(very good-5, good-4, fair-3, poor-2, very poor-1)
Acrostic /word formed 3 pts.
Mechanics 2 pts.
Total 10 pts.

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 What I Have Learned

Directions: Answer each of the following tasks in two to three sentences. Write your
answers on a separate sheet of paper.

1. Define belief system using your own words. (5 points)

2. Complete these statements: (5 points each)

I have learned that the business practices of Christianity are _

I have learned that the business practices of Judaism are

I have learned that the business practices of Hinduism are

I have learned that the business practices of Islam are

I have learned that the business practices of Buddhism are

Rubrics:
Correctness of answer 3 pts.
Clarity of explanation 1 pt.
Mechanics 1 pt.
Total 5pts

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 What I Can Do

Directions: Considering your religious affiliation, write at least two practices in

business that you follow as its active member. You may get your ideas from What Is
It to serve as your guide. Write your answers on a separate sheet of paper.
(two points each)

(My Religion)

Two best practices that I follow:

1. _ _

2. _ _

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 Assessment

A. Directions: Write the letter of your answer on a separate sheet of paper.

1. Jews believe that there is one God, and their written laws rely on the _ _.
a. Qur’an c. Holy Bible
b. Torah d. Talmud

2. Buddhists follow the teachings of .

a. Indira Gandhi c. Siddhartha Gautama
b. Pratimoksa d. Brahman

3. Hindus believe in .
a. Indira Gandhi c. Siddhartha Gautama
b. Pratimoksa d. Brahman

4. Christians follow the .

a. Holy Bible c. Torah
b. Qur’an d. Talmud

5. The source of rules for the Islam is called .

a. Holy Bible c. Torah
b. Talmud d. Qur’an

B. Directions: For 6-15, Identify which practice/principle is described in each

number. Choose your answers from the box. Write the letter of your answers on a
separate sheet of paper.

a. Islam b. Christianity c. Hinduism

d. Judaism e. Buddhism

__ 6. They have a positive attitude towards business and wealth creation.

__ 7. Charity and justice in business must be exercised.
_8. Business should be conducted in accordance with the rules of nature which
God governs.
_9. Fair pricing and good business relations should be applied.
___10. Businessmen should really care for the environment.
___11. They apply market honesty.
12. They put restrictions on misleading advertisements.
13. Wealth is not their ultimate goal.
14. They pursue right livelihood.
___15. They comply with the regulations and strictly adhere to contracts.

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 Additional Activities

Directions: You have already learned the good practices of the different belief
systems. This time, your task is to choose one good business practice that you like
best from each belief system. Write your answer on a separate sheet of paper. (one
point each)

Christianity:

Islam:

Hinduism:

Judaism:

Buddhism:

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What I Know What’s In What’s New
1. e Answers may vary Answers may vary
2. a
3. d
4. c
5. b
6. c
7. c
8. e
9. b
10. b
11. a
12. d
13. e
14. d
15. a

What's More
A.
Christianity
Strictly adhere to contracts.
Comply with regulations.
Work for the benefit of the common good.
No to extortion.
Charity and justice must be exercised.
Give fair wages to workers.

Judaism
Exercise honesty on the market.
Fair pricing
Fair business dealing
Good business relationship

Islam
No interest on money lent
Restrictions on misleading advertisements
Fair contracts to all parties
when misled by advertisement, the buyer may cancel the transaction.
Practice compassion, especially in bankruptcy
Gambling is not allowed.

Buddhism
Goals should be clear.
Follow principles of cause and effect.
Show empathy and compassion to customers.
Be flexible, innovative, and mindful of impermanence.
Do not harm the environment and the animals.
B.
Judaism and Islam
Both promote honesty, especially in advertising.
When a customer is misled by the advertisement, he or she may cancel the business transaction.

Islam and Buddhism

Both want to give compassion to customers, especially when the latter experiences bankruptcy.

Hinduism and Judaism

Both advocate fair pricing of goods and services.

Hinduism and Christianity

Both want the workers to receive fair and just wages.

C. Answers may vary

What I Have Learned What I Can Do
(Answers may vary) (Answers may vary)

Assessment Additional Activities:

1. b (Answers may vary)
2. c
3. d
4. a
5. d
6. c
7. b
8. a
9. d
10. e
11. d
12. a
13. c
14. e
15. b
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