Islamic social business for sustainable development and subjective wellbeing

2015 ◽  
Vol 8 (4) ◽  
pp. 491-507 ◽  
Author(s):  
Necati Aydin
Keyword(s):  
Business Model ◽  
Free Market ◽  
Moral Economy ◽  
Well Being ◽  
Subjective Well Being ◽  
Social Business ◽  
Content Type ◽  
The Social ◽  
Free Market Capitalism ◽  
Market Capitalism

Purpose – The purpose of this paper is to report that the social business model has emerged to mitigate the failure of free-market capitalism driven by self-interest in creating social value. It shows how social business contradicts with free-market capitalism while being compatible with Islamic moral economy due to the axiomatic differences between the two economic systems. Design/methodology/approach – The paper follows conceptual, axiomatic and theoretical approach to show how the social business model contradicts with free-market capitalism, but is compatible with Islamic moral economy. The paper provides a theoretical framework for Islamic social business based on an Islamic human and social development perspective. The paper first discusses the failure of free-market capitalism and the emergence of social business in the capitalist system. It then defines Islamic social business and lays out its axiomatic foundation based on the Islamic worldview. It also presents Islamic financial instruments and funds for social business. Finally, it makes a case for sustainable socioeconomic development and subjective well-being within the Islamic development paradigm. Findings – The paper shows that a cosmetic change to capitalism is not sufficient for enabling the social business model to take the main stage in the free-market system. There is a need for a new paradigm of reality, truth, telos and human nature to support social business. Tawhidi paradigm can be such alternative. The paper makes a strong case for social business from an Islamic worldview. Particularly, certain economic axioms within the Tawhidi anthropology, teleology and axiology provide intrinsic causes for pursuing such business model. The multi-dimensional nature of humans from the Tawhidi anthropology sets the intrinsic foundation for social business. Indeed, although the social business model is new to the West, it has been practiced in certain forms in the Muslim world throughout history. Zakat, sadaqah, and qard hasan can be used to support social business in addition to some Islamic banking instruments. The paper suggests that Muslim countries should embrace the social business model for sustainable development and greater subjective well-being. Research limitations/implications – The paper is purely theoretical. Future studies might shed light on the issue through empirical evidence. Practical implications – The paper is likely to enhance the interest in social business in the Muslim world. Social implications – The paper has potential to lead the creation of social value through dissemination of the social business model. Originality/value – The paper contributes the Islamic moral economy doctrine by making a strong case for Islamic social business.

Spirituality and subjective wellbeing

Humanomics ◽  
2017 ◽  
Vol 33 (3) ◽  
pp. 300-314 ◽  
Author(s):  
Necati Aydin
Keyword(s):  
Consumer Culture ◽  
Subjective Wellbeing ◽  
Free Market ◽  
Moral Economy ◽  
Material Consumption ◽  
Content Type ◽  
Happy Life ◽  
Means And Ends ◽  
Free Market Capitalism ◽  
Market Capitalism

Purpose This paper aims to compare free market capitalism and Islamic moral economy in terms of corresponding means and ends for a happy life. The paper reveals that global consumer culture is the inevitable outcome of secularization. As people pursue fulfillment with worldly possession, position and pleasure, they mistakenly think that higher material consumption would result in higher subjective wellbeing. Muslims are increasingly joining consumer culture because they are affected by global consumerism. The paper attempts to show that Islam has a potential to curb unsustainable consumer culture. Design/methodology/approach The paper explores a relationship between consumer culture and free market capitalism. It presents Islamic way of happiness as an alternative to hedonic happiness which is promoted by global consumer culture. It defines happiness as fulfillment in life through the realization of God and pursuit of His pleasure by finding transcendental meaning for having, being and doing. Findings The paper concludes that the Islamic way to happiness is different from hedonic happiness which leads to conspicuous consumption. It argues that once internalized, Islamic worldview would make possible to achieve a higher level of happiness without engaging in higher material consumption. It maintains that authentic happiness from an Islamic perspective is not the maximization of pleasure through indulging in consumer culture. Rather it is the fulfillment of heart and other faculties through remembrance (seeing the transcendental reality of the universe and the self) of God. Submission to God and living to gain His pleasure are the logical implications of such realization. Originality/value The paper reveals how consumer culture brings less happiness through more consumption, while Islam offers more happiness through less consumption.

Social business model design and implementation in developing countries

2017 ◽  
Vol 36 (1) ◽  
pp. 48-57 ◽  
Author(s):  
Valerie Sabatier ◽  
Ignace Medah ◽  
Peter Augsdorfer ◽  
Anthony Maduekwe
Keyword(s):  
Developing Countries ◽  
Business Model ◽  
Business Models ◽  
Model Design ◽  
Social Business ◽  
Value Capture ◽  
Content Type ◽  
Design And Implementation ◽  
The Social ◽  
Business Model Design

Purpose The purpose of this paper is to contribute to the emergent research on social business models by revealing challenges encountered by the design and implementation of such business models. Design/methodology/approach Case study of the development of FACA, an affordable medicine used to treat sickle cell disease, from traditional medicine to market in Burkina Faso. Findings Social business models present important challenges in terms of value capture for all stakeholders. The social profit equation and the profit equation suggested by Yunus et al. are difficult to apply in practice, and therefore, social business model design should consider the social and profit equations jointly. Originality/value Developing countries are seeking different approaches to innovation and healthcare. Social business models appear as one of the potential solutions to bring value to society, organizations, and individuals. The identification of challenges raised by social business models can help policymakers and executives in the design and implementation of these social business models.

Creating social value through entrepreneurship: the social business model of La Paranza

Kybernetes ◽  
2019 ◽  
Vol 48 (10) ◽  
pp. 2190-2216 ◽  
Author(s):  
Rossella Canestrino ◽  
Marek Ćwiklicki ◽  
Primiano Di Nauta ◽  
Pierpaolo Magliocca
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Social Value ◽  
Social Business ◽  
Key Factors ◽  
Case Study Methodology ◽  
Content Type ◽  
The Social ◽  
Social Value Creation

Purpose The purpose of this paper is to identify the key factors for successful creation of social value using the social business model (SBM) as an explanatory framework. Design/methodology/approach This study follows the Krippendorff and Gioia’s methodology seeking the rigor while examining the selected case study – a social cooperative named La Paranza, in the city of Naples in the south of Italy. In doing so, the SBM canvas is used to present the research’s results in a systematic way. Findings The existence of a strong “identity” with the local context, the “enthusiasm and the wish to change things”, the presence of a “visionary”, acting as an orchestrator and the ability to provide for responses to the local needs were identified as key factors in the successful creation of social value in the examined case. Research limitations/implications The main research limits stem from the single case study methodology approach, which embodies the researchers’ subjectivity. A comparative study based on the collection of multiple successful case studies is therefore suggested to develop a generalization of the key drivers underlying the process of social value creation. Originality/value The study’s originality results from its use of the SBM framework in presenting a successful example of social value creation. The examined empirical evidence is also original in itself, mainly because of its inner uniqueness as a new and innovative formula: this allows an in-depth investigation and the inspiration for new ideas in the ground of SBM and, in a broader sense, in the field of social innovation and social value creation.

Creating change through social entrepreneurship: the case of girls’ school dropouts in Uganda

2021 ◽  
Vol 11 (4) ◽  
pp. 1-18
Author(s):  
Isa Nsereko ◽  
Alex Bignotti ◽  
Mohamed Farhoud
Keyword(s):  
Business Model ◽  
Social Entrepreneurship ◽  
Social Entrepreneur ◽  
Social Business ◽  
Social Entrepreneurs ◽  
School Dropouts ◽  
Content Type ◽  
Personal Initiative ◽  
Business Model Canvas ◽  
The Social

Subject area This case focusses on social innovation and social entrepreneurship in Africa, specifically looking at behavioural characteristics of social entrepreneurs, their motivations to create social value and the application of personal initiative theory. The case discusses the self-starting proactiveness and innovation traits of the social entrepreneur. The social business model canvas will be used to analyse the social enterprise’s business model. Study level/applicability Students of social entrepreneurship, development studies, sustainable livelihoods and asset-based development. It is useful for customised or short programmes on social entrepreneurship or for students with a background in business wanting to understand social enterprise as a vehicle for social and economic change. As such, this case is written for Business Management and Entrepreneurship undergraduates or students of elective courses in social entrepreneurship (“understanding” and “remembering” learning activities under Bloom’s taxonomy). When personal initiative theory is used, the case provides an initial understanding of social entrepreneurship in a less developed context for post-graduate students and may be used for higher-order learning activities (“analysing” and “applying”). Case overview The case tells the story of Dr Engr Moses Musaazi, who is a Social Entrepreneur and Managing Director of Technology for Tomorrow (T4T). Troubled with the persistent social problems in his country. Musaazi, through T4T, strived for social innovations to reduce school dropouts of Ugandan girls. While exploring Moses’ journey for solving persistent social problems through social innovations, students will be able to understand, remember, analyse and apply Dees’ (2001) social entrepreneurial behaviours and Santos’ (2012) theory of social entrepreneurship. The case discusses what motivates African social entrepreneurs to start a social venture (Ghalwash, Tolba, & Ismail, 2017). Students will apply personal initiative theory to identify the social entrepreneurial behaviours displayed in the creation of social ventures. To exemplify and analyse the different components of social ventures’ business model, the social business model canvas by Sparviero (2019) will be introduced. Expected learning outcomes The teaching objectives are Objective 1. Students are able to remember, understand, identify and apply the social entrepreneurial behaviours as defined by Dees (2001) and the elements of Santos’ (2012) theory of social entrepreneurship to Dr Moses Musaazi’s case as a social entrepreneur. Objective 2. Students remember, understand and identify what motivates social entrepreneurs in less developed economies to create social value (Ghalwash et al., 2017). Objective 3. Early-stage postgraduate students are able to apply and analyse (also evaluate and create for higher-level post-graduates) personal initiative theory to explain the emergence of social entrepreneurial behaviour and especially how innovation, self-starting and proactiveness may lead to social entrepreneurial venture start-up (Frese, Kring, Soose, & Zempel, 1996). Objective 4. Students use the social business model canvas (Sparviero, 2019) as a tool to understand, analyse and improve a social-enterprise business model. Supplementary materials Supplementary learning materials are provided in the Teaching Note (Table 1). Table1, which includes videos and their description. Also, a link to Uganda’s sustainable development index is provided (the focus is sustainable development goals [SDGs] 3: Good health and well-being, SDG 4: Quality Education, SDG 5: Gender equality, SDG 10: Reduced inequalities). Subject code CSS 3: Entrepreneurship.

Re-reading the narrative of the informal economy in the context of economic development in sub-Saharan Africa

2016 ◽  
Vol 43 (10) ◽  
pp. 1063-1078 ◽  
Author(s):  
Abdoulie Sallah
Keyword(s):  
Economic Development ◽  
Informal Economy ◽  
Free Market ◽  
Sub Saharan Africa ◽  
Content Type ◽  
Free Market Capitalism ◽  
Pluralistic Approach ◽  
Sub Saharan ◽  
Market Capitalism ◽  
Critical Consideration

Purpose The purpose of this paper is to evaluate critically the narrative that the informal economy in Africa has no place within the framework of economic development. Considered as a sign of “backwardness”, “traditionalism” and “underdevelopment”, the informal economy in Africa has persistently grown notwithstanding Africa’s economic destabilisation through the adoption of neo-liberal economic interventions and free-market policies. This paper argues that the informal economy cannot be marginalised at the fringes of economic development, in the construction of a holistic development pathway. Design/methodology/approach The methodological basis is discourse analysis. Findings The outcome is a call to re-think and open up the feasibility, and possibilities for, alternative economic futures beyond free-market capitalism. Originality/value This paper makes a critical consideration on one of the multiple narratives that continue to inform economic policy making in Africa, by contesting and deconstructing its basis in order to encourage a pluralistic approach and understanding.

Free market madness and human nature

Humanomics ◽  
2015 ◽  
Vol 31 (1) ◽  
pp. 88-103 ◽  
Author(s):  
Necati Aydin
Keyword(s):  
Financial Crisis ◽  
Human Nature ◽  
Free Market ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Comprehensive Theory ◽  
Free Market Capitalism ◽  
The 2008 Financial Crisis ◽  
Theory Of Human Nature ◽  
Market Capitalism

Purpose – This paper aims to discuss the crises of free market capitalism in terms of its understanding of human nature. It reveals how recent market madness can be attributed to certain elements of human nature. Design/methodology/approach – The paper uses a conceptual and philosophical approach to analyze crises of free market capitalism. It links both success and failure of capitalism to its understanding of human nature. It compares and contrasts economic assumptions of human nature in conventional and Islamic economics. It attempts to explain the 2008 financial crisis through a comprehensive theory of human nature. Findings – It sheds some light on the irrational aspect of human nature as the driving factor behind the 2008 financial crisis. It elaborates on the importance of knowing self for knowing human decisions in free market economy. It concludes with the need for a comprehensive theory of human nature to predict and prevent irrational and irresponsible behaviors of populist politicians, greedy capitalists and conspicuous consumers. The paper also reflects on the 2013 Nobel Prize in economics as a victory for the study of human nature. Originality/value – The paper offers a new perspective to understand crises of free market capitalism.

Sahaj Crafts: the challenge of alleviating poverty in Western Rajasthan

2019 ◽  
Vol 9 (1) ◽  
pp. 1-45 ◽  
Author(s):  
Aashish Mehra ◽  
Nidhi Mathur ◽  
Vaibhav Tripathi
Keyword(s):  
Business Model ◽  
Social Entrepreneurship ◽  
Value Chain ◽  
Social Enterprise ◽  
Marketing Strategies ◽  
Social Business ◽  
Content Type ◽  
The Social

Learning outcomes The learning objectives of this case are as follows: identify and understand the major challenges/problems faced by a social enterprise in promoting handicraft business; examine the value chain architecture of handicraft products; assess the role of the protagonist (Sanjay) as a social change agent in shaping a successful social enterprise; assess Sahaj Crafts' initiatives and analyze whether the key intervention/s planned/executed were required for skilling up of rural artisans and upgradation of handicraft business; know the marketing strategies for handicraft products; and understand the “strategies” which need to be applied for uplifting people's lives at the bottom of pyramid in general and for enlivening of artisans’ clusters in particular. The outcomes are as follows: examining the value chain architecture of handicraft product; understanding the difficulties and challenges of structuring a viable social business model; examining the role of Sanjay as a social change agent in shaping a successful social enterprise; and examining the model of Craft Incubation Center and design education proposed by Sahaj Crafts for improving rural artisans’ livelihood and skills upgradation. Case overview/synopsis Sanjay Joshi – the promoter and CEO of “Sahaj Crafts” (a social enterprise established in Western Rajasthan, India), an initiative to strengthen indigenous skills and mainstream rural craft products and artworks – is faced with the question of how to scale up his organization’s operations. Doing so requires that he address these fundamental challenges in terms of – how to deal with unorganized craft communities; match up product orientation to market demands; integrate modern technology / processes in craft business; combat restricted mobility of women artisans; and make effective interventions so that the artisans learn and enjoy working in the current model and solve the financial issues faced by the social enterprise. Providing effective and implementable answers to those questions is vital to Sahaj Craft’s development in attaining its mission to alleviate poverty in the region. Failing to expand operations above a critical scale may leave Sahaj Crafts vulnerable in meeting sufficient demand for contemporary craft products in the mainstream markets. Complexity academic level This case study is primarily suitable for post-graduate level management students to teach the concepts of designing and operationalizing a “social” business model in a social entrepreneurship module. This case study can also be used for highlighting business model innovations in the social sector of emerging markets. The case could be taught in the following academic domains: social entrepreneurship; bottom of the pyramid; social inclusion; supply chain consolidation (vertical integration in a value chain); marketing strategies for handicraft products; branding; brand positioning; cost and management accounting. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 3: Entrepreneurship

The Legacy of Iraq

2015 ◽  
Keyword(s):  
Middle East ◽  
Liberal Democracy ◽  
Iraq War ◽  
Free Market ◽  
Political Elite ◽  
Islamic State ◽  
Sequence Of Events ◽  
The World ◽  
Free Market Capitalism ◽  
Market Capitalism

This book critically reflects on the failure of the 2003 intervention to turn Iraq into a liberal democracy, underpinned by free-market capitalism, its citizens free to live in peace and prosperity. The book argues that mistakes made by the coalition and the Iraqi political elite set a sequence of events in motion that have had devastating consequences for Iraq, the Middle East and for the rest of the world. Today, as the nation faces perhaps its greatest challenge in the wake of the devastating advance of the Islamic State of Iraq and Syria (ISIS) and another US-led coalition undertakes renewed military action in Iraq, understanding the complex and difficult legacies of the 2003 war could not be more urgent. Ignoring the legacies of the Iraq War and denying their connection to contemporary events could mean that vital lessons are ignored and the same mistakes made again.

scholarly journals Subjective Well-Being and Parenthood in Chile

2021 ◽  
Vol 18 (14) ◽  
pp. 7408
Author(s):  
Consuelo Novoa ◽  
Claudio Bustos ◽  
Vasily Bühring ◽  
Karen Oliva ◽  
Darío Páez ◽  
...  
Keyword(s):  
Social Context ◽  
Well Being ◽  
Positive And Negative Affect ◽  
Subjective Well Being ◽  
Cultural Perception ◽  
Probabilistic Database ◽  
The Social ◽  
Life Trajectory ◽  
Being There ◽  
And Gender

Being a parent plays an important role in people’s life trajectory and identity. Though the general cultural perception is that having children is a source of subjective well-being, there is evidence that, at least in some societies, the subjective well-being of those who are parents is worse, in some aspects, than that of those who are not. This gap has been the object of interest and controversy. The aim of this study was to compare Chilean adults with and without children in a broad set of well-being indicators, controlling for other sociodemographic variables. A public national probabilistic database was used. The results show that, in terms of positive and negative affect, those who are not parents achieve greater well-being than those who have children. Other results also pointed in that direction. The implications of the social context and gender, which are aspects that pose a burden for the exercise of parenthood in Chile, are discussed.

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