Tag: SustainableBusiness

Entrepreneurship from an Islamic Perspective

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Four colleagues discuss plans beside a whiteboard reading “Tijarah (Trade) with Integrity” and “Maqasid al-Shariah.”

The paper outlines twelve foundational Islamic ethical principles and economic controls governing commercial conduct. These include Tawhid (monotheism and ultimate divine accountability), Sidq (honesty in financial reporting and marketing), Amanah (trustworthiness in handling stakeholder resources), Adl and Qist (justice and equity in pricing and employee compensation), Al-Ihsan (striving for excellence and benevolence), Taqwa (God-consciousness), Al-Maslahah Al-Ammah (prioritizing public interest), Al-Ayid Al-Halal (earning only through permissible means), and general social responsibility.

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Relational business model for shared responsibility

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The authors argue that these two fields have traditionally been studied separately, with corporate responsibility focused on the meso (corporate) level and leadership responsibility on the micro (individual leader) level. The proposed relational model seeks to overcome this separation by viewing leadership as a relational phenomenon that is not tied solely to individuals but is instead a “social process” involving all stakeholders.

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