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Dynamics and traits of entrepreneurship: an Islamic approach

Nazamul Hoque (Department of Business Administration, International Islamic University Chittagong, Chittagong, Bangladesh)
Abdullahil Mamun (Department of Business Administration, International Islamic University Chittagong, Chittagong, Bangladesh)
Abdullah Mohammad Ahshanul Mamun (Department of Business Administration, International Islamic University Chittagong, Chittagong, Bangladesh)

World Journal of Entrepreneurship, Management and Sustainable Development

ISSN: 2042-5961

Article publication date: 14 April 2014

2251

Abstract

Purpose

The purpose of this paper is to develop traits and model of entrepreneurship development from Islamic point of view.

Design/methodology/approach

The study is descriptive, in so far as its goal is to describe a method, and the nature of the paper is conceptual. The study draws on secondary materials through library research.

Findings

In this paper both the traits as well as model of entrepreneurship are developed from Islamic perspective. The salient traits are knowledge, initiative, risk taking, customer orientation, employee involvement, strategic thinking, fear of Allah, hard working, innovativeness, excellence, honesty and truthfulness, morality, vision, optimism, patience, social welfare, Halal earnings and economical. The model would be used for developing entrepreneurship from Islamic perspective by performing various types of activities relating to the phases of preparatory and awareness development, support and motivation and feedback.

Research limitations/implications

The paper has implications for government, potential entrepreneurs and existing entrepreneurs of Muslim countries representing one fourth of the world population. It is also expected that the study will help and encourage Islamic scholars to think over the matter and make them more aware in developing entrepreneurship based on Quran and Sunna in the modern business world.

Practical implications

The findings of this research can be used as a guide to develop entrepreneurship in Muslim countries from Islamic point of view. The study could have practical implications falling within the purview of social sciences such as economics, business studies, public administration, political science, development studies, sociology, law, Quranic science, industrial management, education and human resource management.

Originality/value

While many studies, partially, have focussed on traditional entrepreneurship sparing the demand of Muslim world, in this paper, the authors open a new avenue contributing to the literature on entrepreneurship development from Islamic perspective. The proposed model will be of genuine interest and benefits to government as prime policymaker, existing entrepreneurs, potential entrepreneurs, Islamic scholars and academicians.

Keywords

Citation

Hoque, N., Mamun, A. and Mohammad Ahshanul Mamun, A. (2014), "Dynamics and traits of entrepreneurship: an Islamic approach", World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 10 No. 2, pp. 128-142. https://doi.org/10.1108/WJEMSD-04-2013-0027

Publisher

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Emerald Group Publishing Limited

Copyright © 2014, Emerald Group Publishing Limited

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