Business Ethics and Islam Essay

2491 WordsMay 6, 201510 Pages
TERM REPORT ON RESEARCH ARTICLE Business Ethics In Islam: The glaring gap in practice SUBJECT: Business Ethics DAY: Saturday TIME: 8:45 TO 11:30 SUBMITTED TO: MR. Shafqatullah GROUP MEMBERS: Hafiz Bilal (22987) Syed Hassan Ali (22437) Ghous Sadiq (22147) Zohaib Khan (22475) Shaikh Muhammad Umar (22954) Abstract Purpose – The purpose of this paper is to examine and discuss business ethics from an Islamic perspective. Design/methodology/approach – Descriptive, analytical, and comparative analyses are used. Findings – The study reveals several factors that affect Muslims’ ethical behavior, including legal, organizational, and individual factors. However, there are factors that affect managers unethical behavior; for example, stage of moral development, family influence and peer influence. The paper outlines some of the ethical guidelines that should be manifested in a Muslim manager, such as being trustful, honest, and consultative. Finally, the paper highlights some of the moral issues that seem to be common between Islam and other religions such as no lying, stealing, fraud, or deceit. Research limitations/implications – The paper provides insights into Islamic work ethics for Western managers and employees, enabling them to work more effectively with Islamic managers, employees, and business partners. It is believed that the paper will provide a better understanding of Muslim societies in general and Islamic managers in particular. It also has some implications for Islamic managers and employees who have to deal with ethical dilemmas as well as situations that offer potential benefits or gains and are considered unethical on a daily basis. It is also hoped that this paper will reinforce managers’ Islamic behavior and make them more aware of the code of conduct on business. Practical implications – The

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