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Islamic Entrepreneurship

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Islamic Entrepreneurship

  1. 1. Entrepreneurship:Islamic Entrepreneurship By Nur Suhaili Ramli Auckland, New Zealand Free Powerpoint Templates Page 1
  2. 2. 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. Free Powerpoint Templates Page 2
  3. 3. 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. Free Powerpoint Templates Page 3
  4. 4. 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 IslamicEntrepreneurship is by the alQuran and al-Hadith Entrepreneurial Ethics based on exemplary conducts of Prophet Muhammad (PBUH) Free Powerpoint Templates Page 4
  5. 5. ISLAMIC ENTREPRENEURSHIP AS INTEGRAL PART OF THE RELIGIONIslam is a complete way of life. There is noseparation between business and religion.Islam has its own entrepreneurshipculture and guiding principles based onthe Al-Quran and Hadith to guide businessoperation Free Powerpoint Templates Page 5
  6. 6. HUMAN NATURE(The fitrah of human being)By virtue of the human nature, the personmust firstly be a Muslim, then anentrepreneur. He has the responsibility toperform ‘ibadah’ and be a ‘khalifah’.Muslim entrepreneur should search forGod’s blessings above all other factors. AMuslim entrepreneur perform business notsolely for profit, but above all, to fulfill the ‘fardhu kifayah’. Free Powerpoint Templates Page 6
  7. 7. 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. Free Powerpoint Templates Page 7
  8. 8. SUCCESS FORMULA BY AL-QURTUBI: Halal – livelihood that are in accordance to what is being outlined by Allah SWT and syariah. Qanaah–be pleased and thankful with one’s earning Taufiq-Asking for the blessing of Allah in proportion to one’s expectation Sa’adah-Spiritual happiness Jannah–Worldly success should act as the bridge to the ultimate success in the life hereafter (paradise). Free Powerpoint Templates Page 8
  9. 9. Level of Taubat or Level of Knowledge repentence SEVEN STEPS TOWARDS A Level of SUCCESS IN LIFE Obstacles Level of ACCORDING TOTemptation IMAM AL-GHAZALILevel of Motivation Level of Handicap Level of Praise and Thankfulness Free Powerpoint Templates Page 9
  10. 10. POSSESSION OF WEALTH IS ALLOWEDBASED 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 Free Powerpoint Templates Page 10
  11. 11. IBADAHIn Islam, involving in business is part of ibadah through the fulfilment of fardhu kifayah. Free Powerpoint Templates Page 11
  12. 12. POSITION OF BUSINESS AND ENTREPRENEUR: ISLAMIC ENTREPRENEURSHIP MODELIslam Proposed(Business Venture) Allah Prepared (Facilities) Islam Outlined (Rules and Regulation) Allah Promised (Reward) Free Powerpoint Templates Page 12
  13. 13. ISLAMIC ECONOMIC SYSTEM: Islamic Entrepreneurship should be in the framework of Islamic Economic System and should assist in establishing the Islamic Economic System Free Powerpoint Templates Page 13
  14. 14. GUIDING PRINCIPLES OF ISLAMIC ENTREPRENEURSHIP: Guidelines for Islamic Entrepreneurship and business activities are wide and comprehensive based on Al-Quran and Al-Hadith. Free Powerpoint Templates Page 14
  15. 15. MUSLIM ENTREPRENEURSHIP ETHICS:  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 Free Powerpoint Templates Page 15
  16. 16. THE ETHICAL BEHAVIOR OF MUSLIM ENTREPRENEURSHIP  To avoid malicious behavior  To avoid squandering  To avoid stinginess  To pay alms (zakat)  Trustworthy  To pray consistently  Tawakkal  Patience  Qana’ah Free Powerpoint Templates Page 16
  17. 17. EXEMPLARY CONDUCTS OF GOODMUSLIM 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 Free Powerpoint Templates Page 17
  18. 18. References:http://wiki.answers.com/Q/Characteristics_of_Islamic_Entrepreneurshipwww.perlis.uitm.edu.my/medec/images/.../ent300_module01.ppt Free Powerpoint Templates Page 18