Philosophy of Business

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Introductory

Philosophy of Business


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Introduction

Premise one: Businessmen are selfish.

Premise two: Selfishness is wicked.

The inescapable conclusion: Businessmen are

wicked.


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What Is the Philosophy of

Business?


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What Is Philosophy of Business?

deals with the concepts and methodologies

diverse views about the concepts and

methodologies of business in different regionsaround the globe


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What Is the Philosophy of Business?

study on howand whya business acts the way

it does


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Philosophy of business and Business

Philosophy

Are they the same?

What is the distinction?


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Business Philosophy What It

Means

intended to denote a way ofdoing business ora business outlook

describes how a particular business chooses toconduct itself


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Philosophy of Business- What It

Means

more formal and academic meaning

related to an academic or outsider's discussionof the prevailing philosophies on what business isand how it functions.

using the concepts and methods employed byphilosophers


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Philosophy of Business A Recent

Development?

Despite the fact that business touches nearly

every aspect of our lives, few thinkers haveshown an interest in it from a philosophical

perspective until relatively recently.


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Philosophy of Business A Recent

Development?

Many philosophers tended

to look askance at commercial activity and

to think of business as a necessary evil in

society, and not as something worthy of serious

philosophical consideration.


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Philosophy of Business Its

Development

As a general rule, business practitioners and

theorists tend to accept the principles that are

current in their society.


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Development

The philosophy of business became a subject of

debate as early as the 17th century, but by the

18th century, philosophers and respected thinkers

of the time made business a hot topic.

Their writings proved to be the foundation uponwhich most modern business theory is based

upon.


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Development

In the European Middle Ages, the dominant

Christian influence resulted in a pricing practice

known asjust price.

During the Enlightenment period, the dominant

view of economic decision making was one ofrationality.
http://en.wikipedia.org/wiki/Just_pricehttp://en.wikipedia.org/wiki/Just_price


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Foundational Concepts on

Philosophy of Business

Rationality - people are basically rational;

Atomism - people prefer to be autonomous and

will strive toward individual rewards

Free will - people are entitled to choose their path

Natural rights - people have the right to own andwork to benefit themselves are all philosophies ofbusiness


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Offshoot Philosophy of Business

Concepts

moral sense - people are motivated by a moralobligation to the greater good, and by improving

the outcome of others, they improve their own

conditions

hedonism - people are intrinsically hedonistic,

and therefore strive to satiate their own needs.

good of society - serving needs of society Own purposes -


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Utility Theory - a model of consumer behaviour in

economics in which consumers freely choose

what to purchase based on their perceived level

of satisfaction.


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Philosophy of Business Certain

Foundational Principles

Notion of free will.

Thomas Hobbes, John Locke, and Jean-JacquesRousseau .

We are free moral agents, able to make

decisions, control our own destiny, and engage in

a social contract.
http://en.wikipedia.org/wiki/Thomas_Hobbeshttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/Thomas_Hobbes


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Utility Theory

a model of consumer behaviour in economics inwhich consumers freely choose what to purchase

based on their perceived level of satisfaction.


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Notion of rationality - people are basically

rational;

- Homo economicus.

Philosopher Proponents : Ren

Descartes

Spinoza
http://en.wikipedia.org/wiki/Homo_economicushttp://en.wikipedia.org/wiki/Ren%C3%A9_Descarteshttp://en.wikipedia.org/wiki/Ren%C3%A9_Descarteshttp://en.wikipedia.org/wiki/Spinozahttp://en.wikipedia.org/wiki/Spinozahttp://en.wikipedia.org/wiki/Ren%C3%A9_Descarteshttp://en.wikipedia.org/wiki/Ren%C3%A9_Descarteshttp://en.wikipedia.org/wiki/Homo_economicushttp://en.wikipedia.org/wiki/Homo_economicus


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Social Contract Theory : social institutions are

merely constructs that individuals can use for

their own purposes.

Philosopher

Proponents : Jean-JacquesRousseau
http://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseauhttp://en.wikipedia.org/wiki/Jean-Jacques_Rousseau


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Atomism : society as an aggregation of

independent, autonomous individuals

: private property ownership

Philosopher-proponent : John Locke
http://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/John_Lockehttp://en.wikipedia.org/wiki/John_Locke


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Socialism and Communism.


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Modern Concepts in Philosophy of

Business

business ethics,

organizational theory and

management theory
http://www.wisegeek.com/what-are-business-ethics.htmhttp://www.wisegeek.com/what-are-business-ethics.htm


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Importance of Philosophy of

Business

big ideas lead to big actions.

transformative political movements in history

started as a purely philosophical project.

Philosophy of Business

Documents

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