Belief Systems and Their Impact on Business Practice

Vocabulary flashcards covering the world's eight major religions and belief systems, their core tenets, and their ethical implications for business practice.

Religious Belief System

A belief system structured around a moral code, the belief in one or more deities, and the ability of supernatural occurrences to affect humanity in the universe.

Spiritual Belief System

An unstructured belief system where individuals follow a moral code and believe in an afterlife without affiliating with a particular church or denomination.

Christianity

The most widely practiced religion in the world, with over 2 billion followers, centered on the birth, life, death, and resurrection of Jesus Christ; in business, it stresses justice, observing regulations and contracts, and working for the common good.

Hinduism

The world's oldest religion, evolving in India between 3,000 and 1,500 B.C. with roots dating back more than 4,000 years; it holds that souls continue to be reborn until reaching enlightenment and liberation from earthly desires.

Dharma

The Hindu concept of ethics and moral duty, which is considered more important than creating wealth in business.

Moksha

The Hindu concept of salvation or liberation from the cycle of rebirth, achieved when the soul attains enlightenment and freedom from earthly desires.

Islam

The second-largest and youngest of the major world religions, originating in 7th-century Mecca during the lifetime of Muhammad (born circa 570 A.D.), who recorded divine revelations from Allah in the Koran.

Tawhid

A central concept in Islamic business scholarship meaning unity with God, which patterns all facets of human life and business in accordance with God's will.

Five Pillars of Islam

The essential acts of worship that Muslims must follow to achieve salvation: Shahadah, Salat, Zakat, Sawm, and Hajj.

Shahadah

The first pillar of Islam, defined as bearing witness that there is no God but Allah and Muhammad is His prophet.

Salat

The second pillar of Islam, defined as praying five times daily.

Zakat

The third pillar of Islam, defined as giving charity or alms to those in need.

Sawm

The fourth pillar of Islam, defined as fasting during the month of Ramadan.

Hajj

The fifth pillar of Islam, defined as making a pilgrimage to Mecca.

Buddhism

A faith founded in India by Siddhartha Gautama around 560 B.C. (more than 2,500 years ago) that seeks relief from human suffering through the Four Noble Truths and the Eightfold Path.

Four Noble Truths

The foundational truths of Buddhism: the truth of suffering, the truth of the cause of suffering, the truth of the end of suffering, and the truth of the way that leads to the end of suffering or Nirvana.

Eightfold Path

The Buddhist path to enlightenment consisting of Right View/Understanding, Right Intention, Right Speech, Right Action, Right Livelihood, Right Effort, Right Mindfulness, and Right Concentration.

Right Livelihood

A component of the Eightfold Path focused on earning a living through ethical and nonharmful means; in business, it opposes abusing animals or disregarding the environment.

Judaism

The world's oldest monotheistic religion, dating back nearly 4,000 years to an original covenant made between God and Abraham around 1900 B.C., which views work as a human partnership with the divine.

Torah

The primary sacred text of Judaism and main source for Jewish business ethics, affirming that business activity and profit are legitimate when conducted within religious and ethical norms.

Confucianism

A Chinese philosophy and religion founded on the teachings of Confucius during the 5th and 6th century B.C., emphasizing kindness, mutual respect, and the rule that business profit is acceptable only when acquired with righteousness.

Taoism

The oldest of China's three religion-philosophies, flourishing in the 5th century B.C.; it seeks inner peace and harmony with surroundings, encouraging businesses to nourish people and prioritize the common good over personal gain.

Tao

A concept translating to 'path' or 'the way,' described as a force that flows through life and pervades all things.

Shintoism

An indigenous Japanese religion originating between 1000 B.C. and 500 B.C., derived from the Chinese 'Shin Tao' ('the ways of gods'), which emphasizes worshipping nature and operating business for the benefit of the group like a family.

Kami

A host of supernatural and mysterious natural deities worshipped in Shintoism, recognized in natural objects (trees, lakes, mountains, flowers, rocks), abstract forces like justice, or remarkable people.