Lesson 1 Flashcards
considers the fundamental principle that underlie the formation and operation of a business enterprise, the nature and purpose of a business and the moral
obligations that pertain to it.
Philosophy of Business
They are activist investors who passionately advocate
for change during shareholder meetings.
Gadfly at the Marketplace
usually distinctive for aggressively questioning senior
management during the meetings
gadfly
Who created Gadfly at the Marketplace?
SOCRATES
Is as “ a systematic process for examining the ideas, questions,
and answers that form the basis of human belief.
It involves
recognizing that all new understandings is linked to prior understanding that thought itself is a continuous thread woven throughout lives rather than isolated set of questions and answer.
To understand what it’s not.
A way of thinking that allows individuals to define their own purpose for learning and explore this purpose through open-minded
questioning of what they hold to be true.
Socratic Method
Entrepreneurs can learn from socrates?
Entrepreneurs are bombarded by assumptions based on what
others and they themselves believe to be the best plan of action for
pursuing a business idea.
Entrepreneurial learning or the acquisition of knowledge necessary
for creating a business venture is built around a constant of
questioning and testing of these assumptions.
Socrates application in company:
Should always practice check and
balances.
Narrowing down your problem from
general to specific through
questioning.
Should practice the art of questioning
when trying to innovate or invent a
product for the market.
Socrates application in employee:
He who knows must act accordingly.
If something is confusing to you ask
questions to make sure you
understand everything.
If you do not know the process, always ask. Do not impulsively do something to avoid miscommunication and other related problem.
Who said “ No one is more hate than he who speaks the truth.”
PLATO : THE PHILOSOPHER - KING
If you strengthen your self
knowledge, you don’t get so pulled around by
feelings.
Know yourself
Plato implication to business:
The role of the Leader is to provide clear rules and regulations in the organization as well as systematic process of how the job is done.
Being professional is also pointed out. The greatest virtue is goodness. No matter how mad you are do not decide impulsive.
Who said “ Let people seek fulfillment”
ARISTOTLE: ALL OR NOTHING
He based his ethics on a psychological theory of human nature, insisting that we are naturally virtuous, rational, social and happiness-seeking.
ARISTOTLE: ALL OR NOTHING
Aristotle implication to business:
In this philosophy, employees should
feel satisfaction in their organization
from them to be extremely productive
and put out quality work in an
organization.
What the organization should do?
Upper Management should act as a leader and not as
a boss.
Keep harmonious relationship in the workplace.
Work as a team.
