Belief Systems and Business Ethics (1)

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Belief Systems and Business Ethics

Belief Systems and Business Ethics

BELIEF SYSTEMS (LC 2.2)

Belief systems are the stories we tell ourselves to define our personal sense of "reality."

Every human being has a belief system that they use to "make sense" of the world around them.

A belief system can be faith-based without being formalized into a religion or a fixed, coherent set of beliefs prevalent in a community or society.

CHRISTIANITY (LC 2.2)

  • Christianity is the most widely practiced religion, with over two (2) billion followers.
  • The Christian faith centers on beliefs regarding the birth, life, death, and resurrection of Jesus Christ.

Christianity and Business Ethics:

  • Christian businessmen and women follow the stewardship doctrine.
  • They seek the Lord’s leadership, asking for blessings through prayer for strategic direction, resources, and earnings.
  • Business transactions should be fair, ensuring workers receive appropriate wages and working conditions.
  • Ethical business practice involves charity and justice—one should not exploit the poor and must pay a fair price for goods.

HINDUISM (LC 2.2)

  • India contains 94% of the global Hindu population, with 100 million Hindus living outside India.
  • Hinduism has no single historical founder and is based on sacred texts.

Hinduism and Business Ethics:

  • Wealth is not rejected, but it is understood that wealth alone does not bring happiness.
  • Work should benefit society, and individuals should only keep what is necessary, distributing the rest.
  • Ethical values include forgiveness, self-control, non-stealing, steadiness, truthfulness, wisdom, and learning.

JUDAISM (LC 2.2)

  • The two countries with the largest Jewish populations are the United States and Israel.

Judaism and Business Ethics:

  • The Talmudic tradition emphasizes honesty in business.
  • Jewish ethics require employers to:
    • Pay workers on time.
    • Provide a living wage.
    • Treat workers with dignity and respect.

ISLAM (LC 2.2)

  • Islam is a monotheistic religion revealed through Muhammad, the Prophet of Allah.
  • The word "Islam" comes from the Arabic root SALAM, meaning peace, submission, and acceptance.

Islam and Business Ethics:

  • Honesty and fairness are essential in Islamic business practices.
  • Mutual consent is required in transactions.
  • Monopolies are forbidden, and free enterprise is encouraged.

BUDDHISM (LC 2.2)

Four Noble Truths:

  1. Life involves suffering.
  2. Suffering comes from desire and attachment.
  3. Eliminating desire leads to freedom from suffering.
  4. Following the Eightfold Path leads to Nirvana.

CONFUCIANISM (LC 2.2)

Confucianism and Business Ethics:

  • Moral righteousness over profit.
  • Emphasizes hierarchy and collective interests.
  • Leadership as a father figure with benevolent paternalism.

TAOISM (LC 2.2)

Taoism and Business Ethics:

  • More balance = better focus.
  • More awareness = better self-organization.
  • More kindness = better cooperation.
  • More modesty = less egoism.

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