Islamic Business Leadership Modelling for Sustainable Development

2017

Social business based on interest is characterized as a separate business concept dealing with creating sustainable value to the society tailored to address social problems designed for the underprivileged community out of the traditional profit or no-profit based business operating approach. However, religion base motivation behind social enterprise or social business may be an alternative that may contribute to building a sustainable society serving the underprivileged community aiding them eradicating the interest based social business. The motives and mission of the social business ranges from micro to the hybrid or macro involvement integrating the conventional theories based on an interest based business model. Consequently, the current study finds that gap intending to fill it aiming to offer a social business idea addressing the social problems showing a business model in the light of the Islamic principles with an inclusion of empirical knowledge.The present study is qualit...

Yupa, 2024

The pressing environmental challenges of climate change, resource depletion, biodiversity loss, and pollution demand integrated solutions combining economic principles, Islamic values, and entrepreneurial attitudes. This study investigates how reorienting economic models to include environmental costs, guided by Islamic principles of stewardship (khalifah), balance (mizan), and justice (adl), can promote sustainability. It highlights the role of entrepreneurial innovation in developing sustainable technologies and business models. A qualitative methodology, including literature review and thematic analysis, aims to develop a conceptual framework that harmonizes these elements. By integrating green accounting, ethical teachings, and social entrepreneurship, this approach provides a comprehensive strategy for achieving a sustainable environment, supported by policy development, education, and community engagement.

bUSINESS NAME, 2019

The report is based on the business model according to Islamic basics and rules which defiantly explore senses towards Shari’ah and it impact in all over the world. World events and media portrayal of Islam over the last few decades has projected negative images, which are based on a total misunderstanding of Islam and the principals it includes. It as an extreme religion. This situation has not been assisted by the lack of published academic and intellectual thought, which could assist in developing more balanced views about what the principals of Islam stand for. The focus of most published works on Islamic economics and business has been in the domains of finance and morals, . This paper assumes that within the Al-Qur’an and Hadith there exists not only a moral code of conduct of business but a complete management and business model, which offers an alternative business example to conventional ‘Western’ management theories. In fact, many ‘Western’ management theories within the last few decades have come closer to the Tawhid model of business, which is presented in this paper. This paper will also highlight the gap between Tawhid principals and the reality of business today, and discuss various views as to whether Tawhid and Syar’iah compliance is an ideal ambition of Muslims or mandatory upon them. The importance of Toyyibat, often neglected in halal hub concepts will be discussed, along with its implications on Musharakah business organization in performing Ibadah in daily life.

Entrepreneurship is indispensable for progress of human civilization and effectively exploring and exploiting existing and potential resources for wellbeing of humanity. Modern economics operates basically through two major modes of entrepreneurships: the market/private sector economics relying on commercial entrepreneurships (self-interestcentric) and the state/public sector economics relying on state entrepreneurships (publicwellbeing-centric). However, both have, individually and jointly, failed to ensure economics' fundamental goal of wellbeing for human societies. In response, a community wellbeingcentric social enterprise economics (third sector), which features cooperatives and not-forprofit social enterprises in the name of foundations, trusts/awqāf, social businesses, and similar undertakings, has emerged as a make-up strategy to meet the minimum unmet requirements for social wellbeing. However, there is a strongly felt belief that this community wellbeing-centric social enterprise economics needs to be broadened and mainstreamed in order to include entirely charitable institutions, predominantly not-for-profit operations, and predominantly for-profit businesses but blended with provision of social welfare programs like corporate social responsibility, etc., for its emancipation as a major economic system to be able to play a leading role for ensuring desirable economic growth and development. Islamic entrepreneurship, which is basically a community-centric mode of business initiative, is closely related to social entrepreneurship. It is an antidote to the problem of intolerable economic and social dualism and a natural strategy against all forms of capitalist exploitation to control world resources, like, in the past, through European colonialism, and now, through American-led state terrorism. It is the natural guard against economic inequity, wealth concentration, and social divides. Based on its potential and using examples from Bangladesh and Malaysia, we argue that the Islamic style social entrepreneurship, which is operationally a profession for a mission, is intellectually and operationally superior and more efficient for effectively widening and mainstreaming community-centric social enterprise economics to ensure development with equity and social justice. The paper aims to put forward social enterprise economics (third sector) for dialogue and research in the context of effective functioning of modern economies ensuring community wellbeing.

Problem: The research problem is lacking of model on social entrepreneurship that focus on Islamic perspective. Objective: The objective of this paper is to identify the research gap and issue based on Islamic perspective from existing models and to develop a concept of Islamic social entrepreneurship according to Islamic perspective and Maqasid Shari’ah. Research Methodology: The research method used in this study is literature review and comparative analysis from 11 existing models of social entrepreneurship. Finding: The research finding shows that 6 existing models on social entrepreneurship has been analysed and it shows that the existing models on social entrepreneurship do not emphasize on Islamic perspective. Keywords: Social Entrepreneurship, Islamic Perspective, Research Gap Theme: Social Entrepreneurship

Revista Argentina de Clínica Psicológica, 2020

Social business has been described as a distinct business philosophy related to the creation of a sustainable benefit of a society adapted to the enduring profit or non-profit operating system to solve the social problems of disadvantaged people. The religious motivation of social business can be a choice that can contribute to the development of a prosperous society that serves the disadvantaged and helps them to abolish interestbased social business. A social enterprise's motivation and goal vary from micro to hybrid involvement when implementing traditional conceptual policies centered around an interest-based business model. Thus, the current study shows a philosophy of social business in Muslim countries that incorporate scientific skills in the light of Islamic values to solves social problems. Most Muslim countries use the Islamic banking system to explain and practice Islamic social business, which is the not perfect method to use social business. Social enterprises are independent, run by communities or individuals, and not governed by the state, with profits being distributed for societal benefit. Islamic social enterprise has received very little attention, but it has immense potential in the economy. This article explores the structure of Islamic social enterprises using Bangladesh as a reference point and observes Islamic social initiatives' effectiveness to improve economic growth. Based on other case studies, it has been concluded that the Government of Bangladesh should encourage Islamic social enterprises to expand and reach their scale with different legal and regulatory frameworks. Islamic social enterprises should work with micro-funding to eradicate interest-based social enterprises. Recent studies will help emerging Islamic social enterprises promote new forms with scholars' social business literature participation.

2020

The paper seeks to addresses the issues of sustainable development and it would be viewed as Islamic moral duties for business. To what level should business bodies should join in the sustainable development activities? Based on the existing literature, this study assimilates conventional as well as Islamic points about environment and sustainable development and contends that whatever explanation of sustainable development one may subscribe, ultimately, each should culminate in environmental concern. This study contends that Islamic style is more friendly to environmental protection and issues touching sustainable development have moral, social and ethical responsibility. With intense commitment of the businesses in the matter of Islamic ethics to equity, justice and wellbeing of humans, it demands that business organisations in the Islamic and other countries should participate in the sustainable development endeavours. Because of ethics of environmental aspects in Islam, the valu...

Social Science Research Network, 2019

Businesses aim to generate profits and long term wealth for the owners. However, that does not mean they can do whatever it takes to get the maximum profits. Businesses have other secondary purposes including providing goods and services, creating employment and gain maximum profits for its stakeholders including employees, customers, and the community at large. To examine the problems associated with balancing profit-motivated activities and meeting needs and expectations of stakeholders, the current study aims at explaining the concepts of Corporate Social Responsibility (CSR) and sustainable development from an Islamic perspective. The paper employs a grounded theory approach to phenomenological investigation based upon review of published literature in the field of Corporate Social Responsibility (CSR) and sustainable development from Islamic perspectives. Qur'anic quotes and Ahadith (sayings and practices of Prophet Muhammad PBUH) are heavily used to describe best and explain the concepts. In addition, Muslim scholars and Imams have been consulted on some issues for better definitions of Islamic terms and concepts.

ISFIRE, 2019

The conomic activities, which are generally divided into three sectors — public, private and non-profit, consist of numerous structured organisations that are involved in different economic activities with different goals and objectives. Organisations were previously classified according to their economic activities. But today’s modern organisations are much more complex social units with diverse characteristics, resulting in the multidimensional classification of organisations. Thus, a combination of organisation’s objectives is defined, giving way to a new type of organisational structure. This includes the establishment of an organisation that combines public and private objectives (e.g. government-linked company), public and non-profit objectives (e.g. statutory body) and non-profit and private objectives (e.g. social enterprise). Social Enterprise (SE) is one of the many forms of organisations established to fill the gap between traditional for-profit and non-profit structures. The rise of SE has been driven by several push factors, including the lack of involvement of public sector organisations in social activities, conceptualisation of the market, growth of self-reliance and personal responsibility culture, growth of entrepreneurship and also changes in funding within the non-profit sector. SE demonstrates how both social and business objectives can be combined under a single organisation, whose main economic activities are classified as non-profit in nature. Therefore, SE is a combination of characteristics, activities and the entity form itself. The emergence of Islamic social enterprise (ISE) as a new type of entrepreneurship has fast gained attention from many quarters. Although both SE and ISE have social and economic objectives, the latter is based on Islamic (Shari’a) principles.

Social entrepreneurship has become a new phenomenon in a country in order to reduce and to solve social problems. The research problem is to address the lack of model on social entrepreneurship that focus on Islamic perspective (which is refer to the primary source al-Qur'an and al-Hadith). The main objective of this paper is to identify the issues and research gap based on Islamic perspective from existing models and to develop a concept of Islamic social entrepreneurship according to Islamic perspective and al-Maqasid as-Shari"ah (preserve religion, life, intellectual, lineage, and property). The research method used in this study is literature review, content analysis, and comparative analysis from 11 existing models of social entrepreneurship. Research finding shows that 11 existing models on social entrepreneurship has been analysed and it shows that the existing models on social entrepreneurship do not emphasize on Islamic perspective.