Who can Practice Islamic Entrepreneurship: A Review of Recent Literature on Personality Traits (original) (raw)
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Belief and Personality Characteristics of Entrepreneurs from the Perspective of Islam
Alustath Journal for Human and Social Sciences, 2023
This study aimed to identify the religious and ethical characteristics of entrepreneurs from the perspective of Islam. Entrepreneurship means creating a business with all the risks in the hope of success. Entrepreneurship is important because it can improve living standards and create wealth for entrepreneurs and related businesses. The method of conducting the research is that the verses of the Holy Qur'an and the hadiths of the Prophet were collected first, based on the objectives of the research and its questions. The similarities and differences were classified, and the concepts were identified and classified. The main results of the study showed that belief in God and belief in the hereafter are among the most important religious characteristics of merchants from the perspective of Islam. This feature makes a person trust God, accept the dangers of God's hope, and not be disappointed by the possibility of failure, and belief in life after death creates a divine intention for others. Based on the results of the research, the most important personality traits of entrepreneurs are hard work, commitment, honesty, specialized knowledge, opportunism, insight, and time management.
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Islam is a religion that guides people in every aspect of life. This involves guiding Muslims to do business in a manner that is blessed (barakah). Thereafter, Muslim entrepreneurs would be able to become a role model to the non-Muslims not only on the aspects of business dealing, but also principles that lead to business success. However, despite guiding Muslims on how to operate business the Islamic way, not many Muslims turned out to be successful as they should be. Were they not practicing enough Islam that resulted in poor business performance? For the purpose of analysis, 110 data were obtained from an entrepreneurship program held in Kuala Lumpur, Malaysia The aim was to investigate the impact of religiousness and personal values on business performance. Multiple regression analysis was conducted to fulfill the objectives of the study. The analysis generated an unexpected outcome. Religiousness was inversely related to business performance. Intrinsic and extrinsic values were not significantly related to business performance; hence did not support the findings of previous studies. Justification for the unexpected results and recommendation for future research were also discussed in the paper.
The Characteristics of Successful Entrepreneurs From Islamic Perspective
Journal of Islamic and Human Advanced Research جهار, 2013
Islamic Entrepreneurship has its own guidelines in describing the characteristics of successful entrepreneurs. However, in terms of focus and emphasis among scholars in the birth of Islam and the West, there are significant differences in outlining the characteristics. Generally, there are obvious similarities between them. Differences occur is not creating a big disagreement. Instead, it is seen to obtain benefits in a characteristics symbiotic form of successful entrepreneurs with a holistic and sustainable. This study used literature research methodology based on the Qur'an and Sunnah, and discussions by scholars associated with the concept of the characteristics of successful entrepreneurs. Findings from this study shows that the conditions specified values are configured based on the needs of the mu`amalah focused on Islam and the current realities of human needs. In fact, the values expressed were also seconded from the perspective of conventional entrepreneurship. What is clear, Islam gives awards to businessmen to look alive on maximizing all the resources that are awarded within the scope of which is justified to avail the benefit of humankind. In addition, it also serves to activate the potential that exists within the entrepreneur to continue resilient and competitive. Thus, indirectly when these values are fully digested it could produce a brilliant individual entrepreneurs to organize all available resources such as manpower, skills, experience, capital, raw resources and so forth to provide added value in the market and introduce innovations for the benefit of the society.
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The Characteristics of Successful Entrepreneurs from Islamic Perspective. SHUHAIRIMI BIN ABDULLAH
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Islamic Entrepreneurship has its own guidelines in describing the characteristics of successful entrepreneurs. However, in terms of focus and emphasis among scholars in the birth of Islam and the West, there are significant differences in outlining the characteristics. Generally, there are obvious similarities between them. Differences occur is not creating a big disagreement. Instead, it is seen to obtain benefits in a characteristics symbiotic form of successful entrepreneurs with a holistic and sustainable. This study used literature research methodology based on the Qur'an and Sunnah, and discussions by scholars associated with the concept of the characteristics of successful entrepreneurs. Findings from this study shows that the conditions specified values are configured based on the needs of the mu`amalah focused on Islam and the current realities of human needs. In fact, the values expressed were also seconded from the perspective of conventional entrepreneurship. What is clear, Islam gives awards to businessmen to look alive on maximizing all the resources that are awarded within the scope of which is justified to avail the benefit of humankind. In addition, it also serves to activate the potential that exists within the entrepreneur to continue resilient and competitive. Thus, indirectly when these values are fully digested it could produce a brilliant individual entrepreneurs to organize all available resources such as manpower, skills, experience, capital, raw resources and so forth to provide added value in the market and introduce innovations for the benefit of the society.
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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.
Entrepreneurship from an Islamic Perspective
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Research about the role of religion in entrepreneurship and more broadly management is sparse. In this conceptual article we complement existing entrepreneurship theory by examining entrepreneurship from an Islamic perspective (EIP). EIP is based on three interconnected pillars: the entrepreneurial, socio-economic/ethical and religio-spiritual. We outline how Islam shapes entrepreneurship at the micro-, meso- and macro-level, indicate how Islam may be considered an entrepreneurial religion in the sense that it enables and encourages entrepreneurial activity, review research streams interlinking Islam with entrepreneurship and management and outline promising research approaches.
The Influence of Islamic Values on the Algerian Entrepreneurs' Behavior
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The influence of religion on entrepreneurship and how it operates has been recognized since Weber. This paper will discuss this influence, focusing on Islam and its values on Algerian entrepreneurs' behaviors. However, few studies in the literature examined the interaction between Islam and entrepreneurship, particularly in the Algerian context. This religion is not treated in this study as something linked to the supernatural or transcendence but to the values that a group of entrepreneurs can refer to guide and manage their different entrepreneurial behaviors. This study examines the scope of Islamic values on the orientation of entrepreneurial actions by considering the sample of 43 entrepreneurs. The study results indicate that these values play an important role in the life of entrepreneurs in terms of decisionmaking and management. Thus religion is seen as a tool of trust, involvement, and social cohesion. Results show that social networks play a crucial role in creating and developing businesses. In addition, Islamic values influence the behavior of entrepreneurs towards accepting and using funding sources that do not coincide with their religious beliefs.
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The purpose of the present study is twofold: first, to investigate the true values of Muslim owner managers; second, to examine the impact of these values on entrepreneurial orientations of Muslim small-scale entrepreneurs. 850 Muslim owner managers were selected randomly using the sampling frame provided by MajlisAmanah Rakyat Malaysia (MARA). 162 completed questionnaires were collected and analyzed. For this paper only two dimensions of entrepreneurial orientations were analyzed: proactive orientation and innovative orientation. Interestingly, the findings revealed that Muslim businessmen/women are honest, loyal, disciplined and hard working. Loyalty and honesty are positively related to proactive orientation, while discipline and hard-work are positively related to innovative orientation. The findings provide implications for existing relevant theories, policy makers, practitioners and learning institutions.