Dynamics and traits of entrepreneurship: an Islamic approach
World Journal of Entrepreneurship, Management and Sustainable Development
ISSN: 2042-5961
Article publication date: 14 April 2014
Abstract
Purpose
The purpose of this paper is to develop traits and model of entrepreneurship development from Islamic point of view.
Design/methodology/approach
The study is descriptive, in so far as its goal is to describe a method, and the nature of the paper is conceptual. The study draws on secondary materials through library research.
Findings
In this paper both the traits as well as model of entrepreneurship are developed from Islamic perspective. The salient traits are knowledge, initiative, risk taking, customer orientation, employee involvement, strategic thinking, fear of Allah, hard working, innovativeness, excellence, honesty and truthfulness, morality, vision, optimism, patience, social welfare, Halal earnings and economical. The model would be used for developing entrepreneurship from Islamic perspective by performing various types of activities relating to the phases of preparatory and awareness development, support and motivation and feedback.
Research limitations/implications
The paper has implications for government, potential entrepreneurs and existing entrepreneurs of Muslim countries representing one fourth of the world population. It is also expected that the study will help and encourage Islamic scholars to think over the matter and make them more aware in developing entrepreneurship based on Quran and Sunna in the modern business world.
Practical implications
The findings of this research can be used as a guide to develop entrepreneurship in Muslim countries from Islamic point of view. The study could have practical implications falling within the purview of social sciences such as economics, business studies, public administration, political science, development studies, sociology, law, Quranic science, industrial management, education and human resource management.
Originality/value
While many studies, partially, have focussed on traditional entrepreneurship sparing the demand of Muslim world, in this paper, the authors open a new avenue contributing to the literature on entrepreneurship development from Islamic perspective. The proposed model will be of genuine interest and benefits to government as prime policymaker, existing entrepreneurs, potential entrepreneurs, Islamic scholars and academicians.
Keywords
Citation
Hoque, N., Mamun, A. and Mohammad Ahshanul Mamun, A. (2014), "Dynamics and traits of entrepreneurship: an Islamic approach", World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 10 No. 2, pp. 128-142. https://doi.org/10.1108/WJEMSD-04-2013-0027
Publisher
:Emerald Group Publishing Limited
Copyright © 2014, Emerald Group Publishing Limited