Islamic Entrepreneurship

By

Entrepreneurship:

Nur Suhaili Ramli Auckland, New Zealand

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Theories and Concepts:

Entrepreneurship is an integral parts of Islamic religion

The Muslim entrepreneurs are khalifah and have the responsibilities to develop prosperity and sees business as part of ibadah or good deed.

Motivation success in Islam is not merely measured by the end result but also the way and means of achieving them.
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Theories and Concepts:

In Islam, the activity also known as Ibadah or good deed

Position of Entrepreneurship and business in Islam - encouraged to venture into business. Prophet Muhammad (PBUH) expounded that 9 out 10 sources of sustenance are through business.

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Theories and Concepts:

Islamic Economic System - Islamic Entrepreneurship should operate within the domain of Islamic Economic system and act as the vehicle towards global acceptance of Islamic Economic System. Guiding Principles of Islamic Entrepreneurship is by the al Quran and al-Hadith Entrepreneurial Ethics based on exemplary conducts of Prophet Muhammad (PBUH)
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ISLAMIC ENTREPRENEURSHIP AS INTEGRAL PART OF THE RELIGION

Islam is a complete way of life. There is no separation between business and religion. Islam has its own entrepreneurship culture and guiding principles based on the Al-Quran and Hadith to guide business operation

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HUMAN NATURE (The fitrah of human being)

By virtue of the human nature, the person must firstly be a Muslim, then an entrepreneur. He has the responsibility to perform ibadah and be a khalifah. Muslim entrepreneur should search for Gods blessings above all other factors. A Muslim entrepreneur perform business not solely for profit, but above all, to fulfill the fardhu kifayah.

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Motivation:

Most entrepreneurs have the desire to achieve successful business venture. The successful path and means for achieving success for Muslim entrepreneurs are unique. Success in Islam is not merely measured by the end result, but also the means and ways of achieving them.

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SUCCESS FORMULA BY AL-QURTUBI:

Halal livelihood that are in accordance to what is being outlined by Allah SWT and syariah.

Qanaahbe pleased and thankful with ones earning

Taufiq-Asking for the blessing of Allah in proportion to ones expectation Saadah-Spiritual happiness JannahWorldly success should act as the bridge to the ultimate success in the life hereafter (paradise).
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Level of Knowledge

Level of Taubat or repentence

Level of Temptation

SEVEN STEPS TOWARDS A SUCCESS IN LIFE ACCORDING TO IMAM AL-GHAZALI

Level of Obstacles

Level of Motivation

Level of Handicap

Level of Praise and Thankfulness Free Powerpoint Templates

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POSSESSION OF WEALTH IS ALLOWED BASED ON THE FOLLOWING PRINCIPLES:-

Allah S.W.T is the absolute owner of wealth

Allah created wealth in abundance and sufficient for all

Wealth is created for mankind

Wealth is entrusted to mankind

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IBADAH In Islam, involving in business is part of ibadah through the fulfilment of fardhu kifayah.

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POSITION OF BUSINESS AND ENTREPRENEUR:

ISLAMIC ENTREPRENEURSHIP MODEL Islam Proposed (Business Venture) Allah Prepared (Facilities)

Islam Outlined (Rules and Regulation)

Allah Promised (Reward)
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ISLAMIC ECONOMIC SYSTEM:

Islamic Entrepreneurship should be in the framework of Islamic Economic System and should assist in establishing the Islamic Economic System

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GUIDING PRINCIPLES OF ISLAMIC ENTREPRENEURSHIP:

Guidelines for Islamic Entrepreneurship and business activities are wide and comprehensive based on Al-Quran and Al-Hadith.

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MUSLIM ENTREPRENEURSHIP ETHICS:

w w w w w To prevent laziness To eradicate fear To search for legitimate ventures To avoid forbidden sources of income and property To show gratitude and thankfulness of whatever has been acquired To grow and develop capital and profit To diversify business ventures To avoid greediness

w w w

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THE ETHICAL BEHAVIOR OF MUSLIM ENTREPRENEURSHIP

w w w w w w w w w To avoid malicious behavior To avoid squandering To avoid stinginess To pay alms (zakat) Trustworthy To pray consistently Tawakkal Patience Qanaah

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EXEMPLARY CONDUCTS OF GOOD MUSLIM ENTREPRENEURS DURING THE PROPHET MUHAMMAD S.A.W REIGN

Business is secondary when being called for other form of crusade Avoid using influence for self interest Afraid of accumulated wealth

Leadership qualities in all aspects

Practice moderate way of life
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References:

http://wiki.answers.com/Q/Characteristics _of_Islamic_Entrepreneurship www.perlis.uitm.edu.my/medec/images/... /ent300_module01.ppt

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