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Entrepreneurship from an Islamic Perspective

And when the prayer is ended, then disperse in the land and seek of Allah’s favor, and remember Allah much, that you may succeed. (Quran 62:10).

He it is who has made the earth subservient to you, so walk in the paths of it and eat of His provision. And to Him will be the resurrection. (Quran 67:15).

The Prophet Muhammad (peace be upon him) was asked what type of earning was best, and he replied:”A man’s work with his hands and every (lawful) business transaction.” (Al-Tirmidhi).

Abstract

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.

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Acknowledgments

My sincere thanks to the associate editor Domènec Melé and the anonymous reviewers for their very valuable comments on the manuscript. I would also like to acknowledge the insightful feedback and suggestions received on earlier versions of this work from Talal Al-Azem, Sue Dopson, Pegram Harrison, Fahri Karakas, Tim Morris, Michael Smets and Marc Ventresca and the support of the Novak Druce Centre for Professional Service Firms at the Saïd Business School, University of Oxford.

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Gümüsay, A.A. Entrepreneurship from an Islamic Perspective. J Bus Ethics 130, 199–208 (2015). https://doi.org/10.1007/s10551-014-2223-7

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Keywords

  • Entrepreneurship
  • Religion
  • Business ethics
  • Social entrepreneurship
  • Islam