The Basis of Entrepreneur Principles within an Islamic Ethical Framework
Author(s)
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Abstract
Islam provides complete road map of an individual for successful and ideal life. Every act of a Muslim shows according to the divine commands of Almighty Allah (SWT) for attaining inner satisfaction. In Islam, business and religion is not separated. Islam has its own culture regarding entrepreneur business which based on Al-Quran, Hadith, Shariah and Sunnah. Entrepreneurship is the social source of gaining through expanding capital, means to successful exchange of basic necessities of life, that maintain equilibrium between materialization and spirituality through social justice, freedom, and benefits. The Underlying principle of the Islamic values is the well beings of human life and the alam (environment).The approach adopts the representation of human being through the physical & spiritual dimensions. It describes a good understanding and correct implementation of principles and rule of Islam offers the various types of businesses possibilities. The aim of this paper is to seek entrepreneur principles according to Islamic ethical framework. A true Muslim entrepreneur is one who identifies Halal from Haram and the whole characteristic based on universal integration of spiritual elements. Moreover, entrepreneurship is the source of creating good employment opportunities which proves helpful for economic development. The conventional interpretation of Islam supports the managerial activities in business but the new and innovative practices change this title in the form of Entrepreneurial activities
Keywords
Muslim entrepreneur, spiritual elements, entrepreneurship, Islamic Principles, Ethics
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