Business Ethics and
Social Responsibility
Quarter 3 – Module 4:
Philosophies Influencing Our
Business Practices
What I Need to Know
The fast-growing economy of the Philippines presents several opportunities
for entrepreneurs. Companies can learn from the techniques used by Greek
philosophers to achieve success in business. As you go through this module, you
will learn about the classical philosophies for business practices.
Therefore, you are expected to:
1. identify the classical philosophers and their philosophies;
2. make a graphic organizer about classical philosophies; and
3. explain how each philosophy reflects into business practices.
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What I Know
Directions: Based on your life’s experiences, cite things/principles you consider in
your decision-making in five aspects below. Write your answers on a separate sheet
of paper.
1. Love _
2. Education _
3. Family _
4. Friends _
5. Money _
Rubrics:
Unity of ideas 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points
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Lesson Classical Philosophies
1 Reflecting into Business
Practices
What’s In
Directions: Define the following words and write your answers on a separate sheet
of paper.
1. Ethics
2. Code of Ethics
Notes to the Teacher / Facilitator
This module aims to make the students realize that
classical philosophies influence business practices.
Students are expected to relate and hone their decisions
based on the understanding of the different philosophies.
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What’s New
Directions: Draw things, people, or anything that defines your own “happiness”.
Below the drawing, write a short description or explanation about it. Use a separate
sheet of bond paper.
Rubrics:
Unity of ideas 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points
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What is It
The Classical Philosophers and Philosophies
and Their Implications on Business
1. Socrates (469-399 BCE)- “The Gad-fly at the Marketplace” is one of the few
individuals whom one could say have shaped the cultural and intellectual
development of the world for without him, history would be profoundly different.
This is Socrates’s philosophical idea:
“The unexamined life is not worth living.” Socrates pointed out that human
choice was motivated by the desire for happiness.
Socrates thought of the Entrepreneurs. The Socratic Method is a way of
thinking that allows individuals to define their own purpose of learning and
exploring its purpose through open-minded questioning of what they hold to be
true. Socrates insisted on a right to think of ourselves by introducing the
philosophical concept, “Dare to Disagree”.
2. Plato – “The Philosopher-King” is one of the world’s best known and most
widely read and studied philosophers. He was the student of Socrates and the
teacher of Aristotle. He wrote in the middle of the 4th Century BCE in ancient
Greece. This is Plato’s philosophical idea:
“Good people do not need laws to tell them to act responsibly, while bad
people will find a way around the laws.”
Plato maintains a virtue-based eudemonistic conception of ethics. That is to
say, happiness or well-being (eudaimonia) is the highest aim of moral thought and
conduct, and the virtues (aretê: excellence) are the requisite skills and dispositions
needed to attain it.
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3. Aristotle – “All or Nothing” (384-322 BCE) is a towering figure in ancient
Greek philosophy, contributing to logic, metaphysics, mathematics, physics,
biology, ethics, politics, agriculture, medicine, dance, and theater. These are
some of Aristotle’s philosophical ideas:
“Happiness is the meaning and the purpose of life, the whole aim, and end of
human existence.”
“Let people seek fulfillment.”
The word happiness in ethics is a translation of the Greek term “eudaimonia”
which connotes success and fulfillment. For Aristotle, this happiness is our highest
goal. In relation to business, Aristotle concludes that the role of the leader is to
create an environment in which all members of an organization can realize their
potential.
4. Immanuel Kant (1724–1804). “Duty based Ethics”. He is one of the most
influential philosophers in the history of Western Philosophy. He was not
concerned with the consequences of one’s actions or the harm caused to one’s
individual interests. Instead, he is focused on motives and the willingness of
individuals to act for the good of others, even if the action might result to
personal loss. Doing something for the right reason was more important to Kant
than any particular outcome.
For example, business ethics is littered with cases of companies that have
suffered damaging crises due to their leaders’ lack of commitment to act based on
goodwill and about what benefits others.
5. Jeremy Bentham and John Stuart Mill- “Utilitarianism” revolves around the
concept of “the end justifies the means”. It believes that outcomes, as a result of
an action have a greater value compared to the latter.
Utilitarianism is a philosophy or belief suggesting that an action is morally
right when the majority of people benefit from it. Also, the doctrine that an action is
right as it promotes happiness, and that the greatest happiness of the greatest
number should be the guiding principle of conduct. Utilitarianism is a moral theory
that advocates actions that promote overall happiness or pleasure and reject
actions that cause unhappiness or harm. A utilitarian philosophy, when directed to
making social, economic, or political decisions, aims for the betterment of society.
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What’s More
A. Directions: Write the business philosophies of each philosopher in the table
below. The first one is done for you. Write your answers on a separate sheet of
paper.
Philosophers Business Philosophies
The unexamined life is not worth living.
Socrates
Plato
Aristotle
Immanuel Kant
Jeremy Bentham and John Stuart Mill
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What I Have Learned
Directions: Complete the sentences below and write your answers on a separate
sheet of paper.
I have learned that Aristotle’s philosophy influences business practices in
I have learned that Plato’s philosophy influences business practices in
I have learned that Socrates’ philosophy influences business practices in
I have learned that Immanuel Kant’s philosophy influences business practices in
I have learned that Jeremy Bentham and John Stuart Mill’s philosophies influence
business practices in
Rubrics:
Correctness of answer 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points
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What I Can Do
Directions: Give a situation that shows the implication of each philosophy in
business. Write your answers on a separate sheet of paper.
1. Aristotle’s philosophy
2. Plato’s philosophy
3. Socrates’ philosophy
4. Immanuel Kant’s philosophy
5. Jeremy Bentham and John Stuart Mill’s philosophy
Rubrics:
Correctness of answer 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points
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Assessment
A. Directions: Fill-in the given graphic organizer about the famous philosophers
and their philosophies you have learned (10pts). Write your answers on a separate
sheet of paper.
B. Directions: Identify whose philosophy is described in each number. Choose your
answers from the box. Write the letter of your answers on a separate sheet of
paper.
a. Aristotle b. Plato c. Socrates
d. Immanuel Kant e. Jeremy Bentham and John Stuart Mill
11. Motives and the willingness of individuals to act for the good of others, even
though that action might result to personal loss.
12. The role of the leader is to create an environment in which all members of
an organization can realize their own potential.
13. Happiness or well-being is the highest aim of moral thought and conduct.
14. Utilitarianism is a moral theory that advocates actions that promote overall
happiness or pleasure and rejects actions that cause unhappiness or harm.
15. We have the right to think of ourselves.
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Additional Activities
Directions: Cite some life experiences where you can relate one of the discussed
philosophies. Write your answers in paragraph form on a separate sheet of paper.
Rubrics:
Unity of ideas 4 points
Clarity of explanation 4 points
Mechanics 2 points
10 points
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