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Balancing Ethical Responsibility among Multiple Organizational Stakeholders: The Islamic Perspective

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Abstract

In spite of a renewed interest in the relationship between spirituality and managerial thinking, the literature covering the link between Islam and management has been sparse – especially in the area of ethics. One potential reason may be the cultural diversity of nearly 1.3 billion Muslims globally. Yet, one common element binding Muslim individuals and countries is normative Islam. Using all four sources of this religion’s teachings, we outline the parameters of an Islamic model of normative business ethics. We explain how this ethics model seeks to balance the needs of multiple stakeholders, and discuss its enforcement mechanisms. This Islamic approach to business ethics is centered around criteria that are in common with stakeholder theory such as justice and balance, and includes unique additional criteria such as trust and benevolence.

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Authors and Affiliations

  1. Managerial Sciences Department /28, University of Nevada, Reno, Reno, NV, 89557-0206, U.S.A.

    Rafik I. Beekun

  2. St. Mary’s University, 245 Sobey Building, Halifax, NS, Canada, BCH 3C3

    Jamal A. Badawi

Authors
  1. Rafik I. Beekun
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  2. Jamal A. Badawi
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Correspondence to Rafik I. Beekun.

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Beekun, R.I., Badawi, J.A. Balancing Ethical Responsibility among Multiple Organizational Stakeholders: The Islamic Perspective. J Bus Ethics 60, 131–145 (2005). https://doi.org/10.1007/s10551-004-8204-5

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  • DOI: https://doi.org/10.1007/s10551-004-8204-5

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