Ethics

• 84% of the people of the world practice particular religions
• 16% have no religious affiliation
• Max Weber


  Famous German philosopher and sociologist
• Max Weber published an article entitled "The Protestant Ethic and the Spirit of Capitalism"
• Max Weber satisfactorily showed how Protestant ethics has a direct implication to the growth of Capitalism in the United States
• Max Weber saw the direct effects of Confucianism in Chinese economic life
• Divine Command Theory


  An action is right if God's commands it
• Hinduism


  Oldest among the major religions of the world
• The name 'Hindu' is derived from the name Sindhu, meaning the people of the Indus River region of northern India
• The members of Hinduism comprise 15% of the 84% of the world's people who are affiliated with a religion
• Hindu teachings


  The Vedas, which means "knowledge" in Sanskrit
• According to Robert Solomon, "Hinduism has never expressed shame about the desire for wealth"
• Hinduism's belief in and tolerance of the caste system may also shape the conduct of business
• Major caste system or classes of people in Hinduism

  • The Brahmans - priests/teachers/healers (the most pure)
  • The Kshatriyas - soldiers/warriors
  • The Vaishyas - traders/merchants
  • The Shudras - servants/labourers
  • The Untouchables - social
• Buddhism


  Originated from India
• Buddhists believe in the law of karma
• Nirvana


  Ultimate goal in Buddhism
• Siddharta Gautama


  The founder of Buddhism, who became Buddha which means "the enlightened one"
• Eightfold Path in Buddhism

  • Right view
  • Right intention
  • Right speech
  • Right action
  • Right livelihood
  • Right effort
  • Right mindfulness
  • Right Concentration
• Ren


  Translated as "humaneness" or "benevolence" in Confucianism
• Li


  Translated as "propriety" in Confucianism
• "Confucian ethics reminds us that if the sole goal of business activities is profit making or wealth accumulation, that would run afoul of Confucian doctrine"
• Judaism


  Oldest among the major monotheistic religions
• Main sources of Judaism

  • The Jewish Bible (Written Torah)
  • The Talmud (Oral Torah)
• Five prominent themes explored by Moses Pava in Judaism

  • Right action
  • Free choice
  • Balance
  • Covenant
  • Dialogue
• Christianity


  The world's largest religion
• Love one's neighbor is relevant for the Christian businesspersons
• Christian must take into consideration the value of human labor
• The notion of private property is a third biblical concept in Christianity
• Islam


  Means "submission" and pertains to "submission to God"
• Muslim


  One who submits or surrenders
• Allah


  God in Islam
• The Quran


  Islam's Holy Book
• Muhammad


  The first who submits to Allah
• Shariah


  Islamic Ethics, consisting of the Quran (Revelation of Allah to Muhammad) and the Sunnah (Life of the Prophet)
• Halal


  Lawful in Islam
• Haram


  Unlawful in Islam
• Halal and haram are very important considerations for the Muslim businesspersons