Comprehensive Study Notes: World Religions and Their Business Ethics

Tawhid: Existence and Unity of God

  • Meaning: unification; marks the unity and existence of God

  • Characteristics: God is personal and transcendent

  • Revelation to humanity: God gave humanity His attributes in a limited fashion so that humanity could get to know God

Angels: Existence of Angels

  • Angels are conscious beings created from noor (light)

  • Angels are genderless and follow all the commands of God

  • Angels are assigned to every human being to record good and bad deeds

  • 4 Archangels: Jibra'il (Gabriel), Mikha'il (Michael), Azra'il (Angel of Death), Israfi’l (Raphael)

Books of Revelation

  • Qur'an mentions four major holy books

  • Qur'an is the latest preserved revelation of God

  • Core message of these revelations is the same: "We assuredly sent among every people a messenger with: 'Serve God and avoid evil'"

Messengers of God

  • Five great messengers: Noah, Abraham, Moses, Jesus, and Muhammad

  • Messengers between God and humanity

  • Prophet Muhammad is of particular importance: last prophet, the 'tool' through which the Qur'an was revealed

  • He is a role model for Muslims in every facet of life

Free Will and Divine Will in Business

  • Islamic concept: humans have free will but all creative power rests with God; expressed as Insha'Allah (if God wills it)

  • In business, this does not negate responsibility; emphasizes limited human power against a higher authority

  • Ethical obligations: work hard and act honestly; ultimate success/failure rests with God

  • Business examples:

    • Making a Plan or Promise: saying "Insha'Allah" to indicate best intentions and effort, while acknowledging uncontrollable factors (e.g., deadline commitments)

    • Example: construction manager: "The project will be completed by October 15th, Insha'Allah." indicates firm commitment and diligent effort, but recognizes possible disruptions

  • Ethical conduct: belief in divine will encourages integrity (Amanah, trustworthiness) and justice (Adl); actions are accountable to God

  • Example: a CEO may reject a fraudulent deal because true success comes from a righteous path and consequences of unethical behavior are ultimately decided by God

Divine Determination (Qadar)

  • Arabic term qadar means measure or amount

  • Humanity: freedom of choice exists

  • God knowing future acts does not force those acts

  • God’s knowledge stems from not being bound by time; He is eternal and outside our temporal sequence

  • The Qur'an recognizes human free will but says all creative power resides with God

  • Responsibility and accountability are tied to freedom of choice

  • God creates both good and evil

Islam: Core Business Ethical Principles

  • Contracts must be fair to all parties

  • Speculation, such as gambling, is not allowed

  • If money comes from gambling, it cannot be invested in Islamic mutual funds

  • Interest (riba) is prohibited; no charging or taking interest

  • Compassionate treatment during financial distress: when a business is in trouble, avoid pressuring those who are down; bankruptcy relief and compassion are expected

Essentials of Buddhism: Core Teachings

  • Buddhism emphasizes restraint of physical desire and cultivation of thoughtful behavior through mental concentration

  • Reference to: "The Buddha's Golden Path" by Dwight Goddard; attainments of the Golden Path

  • The Golden Path reveals truth, vitality, and power of supreme wisdom alongside compassion

  • Buddhism is viewed not only as a religion but as a rational, practical way of life

  • The path leads to nirvana or Buddhahood

  • Concepts, desires, and ideas are transient and lead to dissatisfaction; grasping them causes mental pain

  • To end mental pain, one must relinquish concepts and desires; the path to this is the Golden Path

Essentials of Buddhism: Practical Framework

  • Goals should be defined; follow the principle of cause and effect to map steps toward a goal

  • Develop empathy and compassion for customers; adopt a customer-first or user-centered approach in business

  • Be flexible, innovative, and mindful of impermanence: everything is constantly changing; people, market, and circumstances

  • Respect team members, oneself, and consumers; adhere to non-violence (ahimsa)

Key Elements of Christianity

  • Christianity (especially Catholicism) has significantly influenced ethical standards in Philippine society

  • Old Testament: Ten Commandments

  • New Testament: "Love the Lord your God with all your heart, soul, and mind" and "Love your neighbor as yourself"

  • Apostles' Creed summarizes the Catholic faith

  • Jesus’ teachings found in the four Gospels; broader Christian teachings

  • God is described as a God of love, hope, and humility; God is demanding and requires humility; God offers forgiveness and compassion

  • The Golden Rule; Judging others; Conditions of Discipleship

  • Notable biblical themes: Cursing of the Fig Tree; The Greatest in the Kingdom; Warnings about Greed; The Poor Widow's Contribution; Seek the Good of Others; God’s Indescribable Gift; Life in the Community of Christ; Plea for Unity and Humility

Christianity in Business Ethics

  • Emphasizes human dignity and concern for people

  • Justice in business: strict adherence to contracts, regulatory compliance, and working for the common good

  • Focus on workers: fair pay and meaningful, inspiring work

  • A trading Christian should not undervalue others' products or services; pricing should reflect value

  • Maintaining relationships: do not sever ties with friends/relatives who choose differently

  • Transparency and honesty in dealings, products, and services

Judaism: Core Beliefs and Business Ethics

  • Founded by Abraham; One God

  • Basic belief: people serve God by living according to His teachings; Ten Commandments guide behavior

Judaism: Market Ethics

  • Honesty in the market; prohibited to falsify weights and measurements

  • Fair pricing ensures good value for money; Talmud emphasizes price control

  • Business relations: employers must pay workers on time

  • Legitimacy of business activity and profit within a framework of religious and ethical norms

  • Emphasis on protecting consumers from harm

Hinduism: Key Beliefs and Economics

  • Basic belief: souls are reborn; cycle ends with enlightenment (moksha) and release from earthly desires

  • Ethics: dharma (righteousness), karma, ahimsa (non-violence)

  • Business: prices and profits should be fair

  • Taxation: reasonable rates, economical implementation, no adverse impact on growth; higher taxes on luxury goods

  • Workers: fair and just wages based on ability and productivity

Hinduism: Expanded Business Guidance (Continued)

  • Reiterates: prices and profits should be fair

  • Tax system: reasonable, economical, non-detrimental to growth; luxury goods taxed at higher rates

  • Workers: fair and just wages tied to ability and productivity

Impact in Business Ethics: Cross-Religious Perspectives

  • Christianity: honesty, compassion, fairness

  • Judaism: honesty, fair pricing, strong business relationships

  • Islam: honesty, fairness, social responsibility

  • Buddhism: mindfulness, compassion, non-harm

  • Hinduism: dharma (righteousness), karma, ahimsa

Activity: Acrostic Exercise (Directions: Choose one belief system and create an acrostic for its business practices or principles)

  • Christian's business practices and principles are based on the Bible

  • Honest, fair, and must not wrong one another

  • Relationships in the workers are built first

  • It works for the benefit of the common good

  • So fair dealing builds consumer confidence and leads to growth

  • It gives fair wages to workers

  • And doesn’t exclude people who aren’t interested in what they sell

  • Nothing can stop Christianity even in the world of business

Christianity, Judaism, Islam, Buddhism, Hinduism: Consolidated Business-Principle Lists (From the Exercise Sheet)

  • Christianity

    • Strict adherence to contracts

    • Compliance with regulations

    • Work for the benefit of the common good

    • No extortion

    • Charity and justice in action

    • Fair wages to workers

    • Gambling not allowed

  • Judaism

    • Legitimacy of business activity and profit

    • Stable decision-making to protect and preserve human life

    • Divine origin and ordination of wealth

    • Protection of consumers from commercial harm

    • Fair pricing

    • Healthy business relationships

  • Islam

    • Honesty

    • No interest (riba) lending

    • Sell lawful items

    • Good treatment of staff

    • No deception or fraud

    • Charity

    • Gambling not allowed

  • Buddhism

    • Define the goal clearly

    • Rely on cause and effect

    • Develop empathy and compassion for the customer

    • Be mindful of impermanence; be flexible and innovative

    • Follow ethical principles and respect for colleagues and customers

  • Hinduism

    • Non-violence (ahimsa)

    • Workers should receive fair wages

    • Truthfulness and fair pricing and wages

    • Not to steal

    • Discipline

    • Appropriate words and thoughts

    • Motivation to achieve the goal