Islamic Work Ethics in Marketing

Islam ethics are being overlooked by multinational companies (MNCs) with growing Muslim markets. Islam sees business as an essential pillar of society, and before the noble Prophet Mohammad (PBUH) commencement his mission, he was a very successful businessman with his honesty, reliability, and trustworthiness towards his customers. This clearly advocates that Islamic ethical principles need to be adopted by multinational companies (MNCs) to meet the welfare of Muslim customers. Although profit maximisation is not the ultimate goal of trade in Islam, Islam accepts profits and trade and does not aim to remove all differences in income and wealth that may result in various social and economic classes. The chapter discusses the conceptual implications of companies planning to engage the Muslim customers, employees, and other stakeholders.

Diversity, Liberty, and Virtue in Islam

Islamic teachings state that diversity is intended to encourage people to learn and understand each other rather than disharmony. It requires one to look at the mindset and the culture of an organisation and the different perspectives people bring to an organisation on account of their ethnicity, social background, professional values, styles, disabilities, or other differences. Diversity is ‘otherness' or those human qualities that are different from our own and outside the groups to which we belong yet are present in other individuals and groups. Age, ethnicity, gender, physical abilities, race, and sexual orientation are considered primary dimensions, while education, place of residence, class, marital status, religious beliefs, occupational status, and life experiences are secondary dimensions of diversity. This chapter aims to analyse and discuss diversity management as an inclusive concept, encompassing a broader focus than employment equity.

Protection of Maqasid Al-Shari'ah

The Maqasid al-Shari'ah is central to Islamic ethics in protecting individuals against aggressive behaviour of those individuals who manage multinational companies, medium and small businesses, who are pursuing financial gains at the expense of community and the nation as a whole. Islamic ethics fundamentally drives to establish the Maqasid al-Shari'ah with the honest desire of the individual taking responsibility to develop clear and effective intent behind all the daily dealings in business. The purpose of this chapter is to develop an understanding of why the Maqasid al-Shari'ah should be established as key principle as a guide to key stakeholders in dealing with financial matters that ensure justice and contribute to develop the society.

Islamic Ethics and Conflict Management

Islamic ethics provides a compact infrastructure for conflict management. Islamic ethics mandates maintaining a shura (expert or advisory council) as a permanent feature of the society or an organisation to handle conflicts amicably. Appointment of a muslih (mediator) in case of a conflict must be a key feature of workplace according to Islamic ethics with responsibilities of (1) verifications and (2) nasihah (advice). The Qur'an gives precise guidance toward conflict management and resolution with prescribed hierarchy by directing believers to refer to the Qur'an and Prophetic traditions to settle disputes. This chapter discusses that the impact of religion and religiosity at the workplace cannot be ignored in almost all aspect of management; it takes even more importance when it comes to developing conflict management strategies.

Welfare in Islamic Ethics

Islamic ethics provides alternatives to “shareholder primacy”—the view that managers should maximise shareholder returns subject to the law. Concern for societal welfare has remained under discussion throughout the history of mankind. Theories, philosophies, policies, legislations, and what not formulates time and again to make this world a happier place to live. Still, there is a search for even better models to organise market forces to deliver in terms of welfare of society. In the corporate world, a good deal of scholarship has been devoted to articulating and justifying the responsibilities and the role of business enterprises and their managers in relation to society. This chapter aims to discuss a framework for the welfare of society being extended by key stakeholders at contemporary workplaces ensuring happiness and prosperity for all.

Information Technology and Islamic Ethics

The whole issue of information technology is of major interest for the whole society. The new millennium has provided some of the most exciting technological advancements, which has transformed the way businesses are managed, organised, and developed. The technology is a phenomenon, and it is dramatically changing the way businesses deal with their customers. In a climate of increased competition, expansion of new technologies, possible drop in customer numbers, one way of increasing customer numbers would be by enhancing customer experiences on the internet. It is widely accepted that relationship marketing enhances with positive experience, and the internet is a key relationship building tool. The focus of the chapter is that Islamic workplace ethics believes that confidential sharing of information should only be given to limited and relevant stakeholders in the business.

Islamic Ethics and Stakeholder Management

The company is an important part of society and plays a critical role in developing the economic activities of community based on honest and ethical obligations. Over the last three decades, company structure has been changed due to increased customer demands for goods and services. The chapter highlights that the importance of moral and ethical belief has been evaded due to mass production and greed, which has caused the company to neglect to look after the interests of stakeholders and society. Islamic work ethics encourages the company and individual to own company and make a profit based on Islamic ethos to boost prosperity within the community and show professionalism in increasing economic wealth and avoid oppression. Islamic ethics plays a critical role to address the stakeholder's responsibilities to meet the obligations to society and develop economic transparency to avoid financial crisis.

Overview of Islamic Ethics

This chapter critically evaluates the conceptual, theoretical, and principles of Islamic ethics of workplace and presents various themes and critical discourses that underpin the sections within this chapter. History of business progression over several centuries suggests unprecedented improvements and creativeness during the journey to embark on the current status of scientific modernism. From barter, the only form of business transactions, to the digital economy of the 21st century, from mere farmhouses to today's digitalised multinational corporations (MNCs), from grain economy to internet of things (IoT), the transformation of the business world remained unbelievably overwhelming. Ethics is a subject of diverse views, opinions, and theories. However, the study of Islamic teachings suggests that Islamic ethics are founded on the concept that certain absolute truths apply everywhere. Universal values do transcend cultures to determine what is good or bad and right or wrong.

Islamic Ethics and Corporate Social Responsibility

The core principles of Islamic corporate social responsibility (CSR) are derived from al-Qur'ān and Sunnah, while the major foundations of Islamic CSR principles are unity, viceregency and trusteeship, justice and equilibrium, and rights and responsibilities. Man is a vicegerent (khalifah) or representative of Allah on Earth and trustee of resources provided by Allah (SWT). As a khalifah or leader in organisation, they have greater responsibility to utilise all these given things and facilities by Allah to the best of their abilities to create maximum added value to the organisation itself and to the whole community. The purpose of this chapter is to explore how Islamic ethics and corporate social responsibility (CSR) are two compatible concepts.

Islamic Ethics and Crisis Management

The Islamic ethical system is unique and respects the rights of individuals. The Islamic codes and principals are based on the attitudes, morals, virtues, and obligations of the individual and whole civilisation. In multinational companies (MNC), ethical codes and principals are undermined in terms of human feeling, values, and beliefs. The Prophet Muhammad (PBUH) stated that the aim of his mission is to enhance good morals and values among my ummah and individual people. The chapter examines and evaluates the fundamental belief that the Islamic ethical system is there to serve and develop good morality and avoid indecency and immoral conducts within business dealings.