The context of Islamic entrepreneurship and business: concept, principles and perspectives

Veland Ramadani, Leo Dana, Vanessa Ratten and Sadush Tahiri
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Veland Ramadani: SEEU - South East European University
Vanessa Ratten: La Trobe University [Melbourne]

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Abstract: Islamic entrepreneurship and business is a topic area of business management study due to the increasingly dynamic international business environment in which culture and religion are important to developing business relationships. The main objective of this paper is to see the approach of Islam as a religion towards entrepreneurship and business. Utilising recent and relevant literature on the topic, this paper is based on the Holy Qur'an verses and the Muhammad's (S.A.W) Hadith (teachings and traditions). In this paper the themes focused on include thee taqwa, halal and haram; knowledge and entrepreneurs; innovativeness and risk-taking, proper usage of resources, financing and Islamic perspectives on ethics and social responsibility. At the end of the paper we provide recommendations for further research and suggestions for how emerging interest in this topic area of business management study might be addressed. We also highlight how the context of Islamic business is an important driver of entrepreneurial activity.

Keywords: Islam; religion; entrepreneurship; business; Qur’an; Hadith (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (8)

Published in International Journal of Business and Globalisation, 2015, 15 (3), pp.244-261. ⟨10.1504/IJBG.2015.071906⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02066861

DOI: 10.1504/IJBG.2015.071906

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