Religion and Business Values for Muslimpreneurs (original) (raw)
Abstract
Religion and entrepreneurship have a complex interdependent relationship which explains why this issue has been ignored in the entrepreneurship literature. Religion provides opportunities for entrepreneurship while creeds (faiths) may benefit those who are doing business. This study is conducted to understand how Islam influences Malay entrepreneurs in their business practices, particularly in their business strategy formation and implementation by examining their entrepreneurial locus of control. This study utilises upon a qualitative research which employs a case study approach. Locus of control is examined and the findings indicated that the entrepreneurs demonstrated high external locus of control. This is in contrast with Western theories which claimed that successful entrepreneurs may have high internal locus of control. Hence, Islamic faith has influenced and shaped Malay entrepreneurs' business practices. Lessons learned from the cases could provide guidelines for contemporary Muslim ummah especially for the potential Muslimpreneurs.
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