Religion does not only plays an important role in the society and culture but in our businesses as well. A lot of corporations believe that keeping religion out of the business is the best option for them, but that’s not true.
In fact, according to this study, businesses in the US who practice religious values in the workplace tend to have higher credit ratings and lower debt cost when compared to businesses that don’t practice religious values in the workplace.
Here’s how religion impacts a business:
1. Strengthens Business Ethics
No matter what the religion, each one practices justice and equality. If we consider Christianity, it says to pay what’s just and avoids overcharging and underpaying.
To respect this religious value, many businesses pay vendors as per the worth of the goods. This accounts for good business ethics but sadly not many businesses practice it wholeheartedly.
A large part of the US is home to jews. Jewish business ethics teaches us to maintain fair play and do business with honesty. Honesty is not only confined to Judaism but many other religions as well such as Islam and Buddhism.
Today, we see modern policies taking over the market and destroying business relations. This is solely due to dishonesty.
Judaism relies on Torah, and it teaches to maintain honesty in the market. This implies that merchants are restricted from trying dishonest means (Falsifying weights, etc.).
In the case of businesses, religion encourages to avoid buying/selling goods or services that do not seem fair.
3. Maintain Good Business Relations
According to Islam and Quranic teachings, employers must pay employees on time. Moreover, Islam prohibits Muslims from dealing with interest.
Similar kinds of teachings are practiced in other religions as well. They emphasize on taking the just path and doing business in the right way.
Businesses that take these teachings seriously triumph and are able to maintain good business relations with people.
4. Promote Good Environment
Buddhism is a religion that emphasizes on keeping the environment healthy and safe which is why it prohibits the followers from doing the kind of business that promote violence or hate.
One of the representatives of https://fbabee.com said, “almost all religions promote peace. It doesn’t matter which one you follow, for as long as you follow it, you’d be good.”
5. Religion Promotes Trust
It’s human nature to trust a person who is religious. Any investor would prefer lending money to a religious person rather than a drug addict. This is because we have more trust in people who are religious.
While it’s quite like judging a book by its cover, we can’t neglect the fact that almost all of us do it. Therefore, a business that takes religion along will gain trust in the circle and with trust comes respect.
Making religion a part of the business has many perks. It helps you gain trust, it reduces the risk because you won’t be involved in any unfair means and more importantly, it will keep you light-hearted and at peace.