What is the connection between religion and ethical systems? Do they have
any implications for business?
Ethical systems are a set of moral principles, or values, that are used to
guide and shape behavior. Most of the world’s ethical systems are the
product of religions. Therefore, there are Christian ethics and Islamic ethics.
There are four dominant religions in the world: Christianity, Islam,
Hinduism, and Buddhism. The relationship among religion, ethics, and
society is subtle and complex. Some scholars have argued that the most
important business implications of religion center on the extent to which
different religions shape attitudes toward work and entrepreneurship and
the degree to which the religious ethics affect the costs of doing business in
a country.
The authors point out that it is hazardous to make sweeping generalizations
about the nature of the relationship between religion and ethical systems
and business practice. The proposed relationships may exist, but their
impact may be small compared to the impact of economic policy.