How does religion impact business?

Religion functions as a historical force, indirectly affecting business behavior. It can also be a regulatory force and in so doing affects business more directly. Finally, religious institutions are part of the ongoing conversation about responsible business behavior and as such play a variety of interlocking roles.

How does religion affect global business?

Worldwide, religion is one of the key factors in workplace cultural diversity. Employees want religious beliefs and practices to be accommodated, including time during the workday for rituals, and time off from work for observances. These two events result in business closings in most Christian regions.

Does society benefit from religion?

Religious practice promotes the well-being of individuals, families, and the community. Religious worship also leads to a reduction in the incidence of domestic abuse, crime, substance abuse, and addiction. In addition, religious practice can increase physical and mental health, longevity, and education attainment.

Is Religion a business?

Religion-related businesses add another $438 billion to the US economy each year. These include faith-based enterprises, ranging from Halal and Kosher food industries to religious media such as EWTN and the Christian Broadcast Network.

Does religion affect economy?

For given religious beliefs, increases in church attendance tend to reduce economic growth. In contrast, for given church attendance, increases in some religious beliefs — notably heaven, hell, and an afterlife — tend to increase economic growth.

Why is religion a business?

Religion annually contributes about $1.2 trillion dollars of socio-economic value to the United States economy, according to a 2016 study by the Religious Freedom & Business Foundation. That is equivalent to being the world’s 15th-largest national economy, outpacing nearly 180 other countries and territories.

How does religion help the economy?

Religious practice is an efficient and effective catalyst of socio-economic growth. In the United States religious organizations produce substantial economic revenue, provide substantial social capital through its civic and social networks, and foster human capital growth in its citizens.

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