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

Author

Listed:
  • Veland Ramadani
  • Léo-Paul Dana
  • Vanessa Ratten
  • Sadush Tahiri

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.

Suggested Citation

  • Veland Ramadani & Léo-Paul Dana & Vanessa Ratten & Sadush Tahiri, 2015. "The context of Islamic entrepreneurship and business: concept, principles and perspectives," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 15(3), pages 244-261.
    • Handle: RePEc:ids:ijbglo:v:15:y:2015:i:3:p:244-261
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    Citations

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    Cited by:

    1. Siwale, Juliana & Gurău, Călin & Aluko, Olu & Dana, Léo-Paul & Ojo, Sanya, 2023. "Toward understanding the dynamics of the relationship between religion, entrepreneurship and social change: Empirical findings from technology-savvy African immigrants in UK," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    2. Nuria Toledano, 2020. "Looking for God, meaning, physical fitness and beyond: the religious and spiritual space in sport entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 16(3), pages 897-916, September.
    3. Zeqiri, Jusuf & Alserhan, Baker & Gleason, Kimberly & Ramadani, Veland, 2022. "Desecularization, Social Identity, and Consumer Intention to Purchase Religious Products," Technological Forecasting and Social Change, Elsevier, vol. 177(C).
    4. Jamal Agouram & Jamaa Anoualigh & Lhoucine Ben Hssain & Ghizlane Lakhnati, 2021. "Performance and Risks: Islamic Indices and Compared to Conventional Indices," Asian Journal of Economics and Empirical Research, Asian Online Journal Publishing Group, vol. 8(1), pages 17-26.
    5. Kumar, Satish & Sahoo, Saumyaranjan & Lim, Weng Marc & Dana, Léo-Paul, 2022. "Religion as a social shaping force in entrepreneurship and business: Insights from a technology-empowered systematic literature review," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    6. George Acheampong, 2017. "Beyond the EJ model: entrepreneurial orientation and industry choice of Ghanaian entrepreneurs," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 7(1), pages 1-10, December.
    7. Endi Rekarti & Zakaria Bahari & Normaisarah M. Zahari & Caturida Meiwanto Doktoralina & Nor Asariah Ilias, 2019. "The Sustainability of Muslim Women Entrepreneurs: A Case Study in Malaysia," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(5), pages 430-439, August.
    8. Tendai Douglas Svotwa & Olumide Jaiyeoba & Mornay Roberts-Lombard & Charles Makanyeza, 2022. "Perceived Access to Finance, Entrepreneurial Self-Efficacy, Attitude Toward Entrepreneurship, Entrepreneurial Ability, and Entrepreneurial Intentions: A Botswana Youth Perspective," SAGE Open, , vol. 12(2), pages 21582440221, May.

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