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Abstract

Research about the role of religion in entrepreneurship and more broadly management is sparse. In this conceptual article we complement existing entrepreneurship theory by examining entrepreneurship from an Islamic perspective (EIP). EIP is based on three interconnected pillars: the entrepreneurial, socio-economic/ethical and religio-spiritual. We outline how Islam shapes entrepreneurship at the micro-, meso- and macro-level, indicate how Islam may be considered an entrepreneurial religion in the sense that it enables and encourages entrepreneurial activity, review research streams interlinking Islam with entrepreneurship and management and outline promising research approaches.
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... Recently, a number of global economic meetings, such as the World Islamic Economic Forum and the Global Islamic Economy Summit, have raised awareness of the role of Islam in national economies and in global trade. As Muslim consumption is rising, understanding the relationship between Islam and the economy should be seen as part of the response to meet Muslims' particular needs (Gümüsay 2015). The steady growth of Islam around the world has inspired contributors from many different disciplines to pay further attention to this field of study. ...
... The Holy Quran commands Muslims to "seek your provision from God" . A number of studies confirm the positive correlation between Islam and economic growth (Essers & Benschop, 2009;Tlaiss, 2015;Gümüsay, 2015). On the one hand, as the Prophet Mohammed was a merchant himself (Nadiri, 2009) (Graafland et al., 2006), the work ethic (Ali & Al-Owaihan, 2008), entrepreneurship (Balog et al., 2014, Hassan & Hippler III, 2014) and risk-taking (Nadiri, 2009). ...
... Therefore, Muslims who practise toakul by putting their complete trust in God are to be considered true believers who exhibit strong Islamic religiosity. In an economic context, Gümüsay (2015) argues that in Islam, the concept of rizq (sustenance of wealth) is similar to that of risk and that Muslims believe that rizq is eventually granted by God. The term 'rizq' also connotes future projections in the face of uncertainty (Faizal et al., 2013). ...
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The Islamic religion has been at the centre of global interest in recent times, but there is no consensus on its influence on individuals and their socio-economic behaviour. We examine the impact of Muslims’ religiosity on their propensity to make risky decisions. Based on a sample database of 638 Muslims from Saudi Arabia, the empirical results establish a new link between Islamic religiosity and the preference for risk-taking. In particular, the results reveal a U-shaped relationship between Islamic religiosity and the propensity of Muslims for risk-taking suggesting that individuals with both high and low religiosity levels are more likely to make risky decisions.
... According to an Islamic perspective, entrepreneurship is one of the most common ways of conducting business [26][27][28]. Muslim company owners are expected to continue promoting suitable activities and securing the validity of their operations [3]. ...
... Halal entrepreneurship curriculum is dedicated to higher education so that later it can contribute to the industrial world that can manage their halal business successfully [66]. Halal entrepreneurship affects micro and macro analysis in multidimensional ways because it shapes organizations, individuals, and institutions, for example, markets and countries [7,27]. Halal entrepreneurship is complex and must be taught holistically. ...
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Indonesia is well-known for having the world’s largest Muslim population. As a result, Indonesia has significant halal market potential. After forming the Institute for the Study of Food, Drugs, and Cosmetics in the Indonesian Ulema Council, halal products became more widely known (LPPOM-MUI). Since then, public awareness and demand for Halal products have risen significantly, making Indonesia a lucrative market for halal businesses. In response to the rapid rise of the halal industry, a new curriculum has emerged in education to meet the difficulties of today’s industrial world. Halal entrepreneurship is a newly designed university program. This study was implemented to determine the curriculum management based on halal entrepreneurship at the Nahdlatul Ulama University of Sidoarjo. The result of this study can be reflected in the well-run and methodical planning, execution, and evaluation stages. The curriculum development team incorporates halal entrepreneurship into courses and teaches halal materials in halal food management, halal cosmetics, and halal supply chain management. At the end of each lecture, students participate in curriculum evaluation exercises used to improve the curriculum in the future.
... According to Vishkin et al. (2014), religion influences self-regulation through cognitive reappraisal, avoidance, management of temptations, social support, and ritual practices. Unfortunately, studies do not provide clear insight into how religion fulfills these roles (Gumusay, 2015). ...
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Despite increasing interest in the relationship between religion and entrepreneurship, extant studies have failed to provide a clear explanation of this interdependence at the individual level. Our study addresses this knowledge gap by using a methodology based on an inductive and interpretative approach to collect and analyze primary data from 27 African immigrant entrepreneurs who are members of several Christian communities in the United Kingdom. Our original contributions include: At the theoretical level, the identification and definition of three types of individual religious expressions; at the methodological level, the development and application of qualitative measurement scales to the evaluation and graphical representation of individual religious profiles; on a practical level, the presentation of relevant content that indicates the mutual interdependence between an individual's religious manifestations and their entrepreneurial decisions and actions. Finally, in terms of modelization, we propose a general model that connects the individual profile of religious expressions and entrepreneurial initiatives in a dynamic process, which fuels emergent gradual changes in religion, culture, and the socio-economic context.
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Industri berbasis syariah telah menunjukkan perkembangan yang pesat karena semakin banyak negara yang terlibat. Namun demikian, meskipun Indonesia adalah negara berpenduduk Muslim terbesar di dunia, posisinya sebagai produsen produk halal dunia menempati urutan ke ke-10. Di samping itu index kewirausahaan Indonesia juga masih rendah. Pendidikan kewirausahaan perlu diperhatikan untuk meraih peluang usaha industri berbasis syariah. Untuk itu perlu dibangun sumber daya manusia wirausaha yang taat syariah. Makalah ini bermaksud mengidentifikasi nilai-nilai Islam yang dapat diterapkan dalam materi kewirausahaan Islam agar dapat digunakan pada pengajaran di sekolah maupun perguruan tinggi. Metode penelitiannya adalah deskriptif kualitatif, dengan melakukan kajian pustaka. Penulis menawarkan nilai-nilai Islam dalam bisnis dan kewirausahaan yang meliputi landasan, proses kewirausahaan, manajemen bisnis, keuntungan dan dampak sosial.
Chapter
The idea that religious values may impact on economic behavior and activity can be traced at least as far back as the work of Max Weber. However, there has been a recent advance of interest in religion and entrepreneurship as an important facet of this wider issue. At a global level religion remains an important sociocultural force. This has led in turn to the development of a range of ideas about the potential linkage between religious affiliation, the acquisition of religious beliefs and values, and their impact on entrepreneurial intentions, choices, and performance. Researchers have evaluated and investigated these ideas along various methodological paths. Within the entrepreneurship field, qualitative methods have been used extensively. However, econometric studies using large-scale microdata are more limited in number, and an assessment of findings to date is mixed and not firmly conclusive. The role of religion is also explored through the lens of institutional theory, producing ideas about the role of religious organizations as an important source of social and networking capital. This leads to empirical predictions which might more appropriately be assessed with multilevel analysis and points to important ways in which the current literature might be developed and extended. Finally, the role of religion as a source of entrepreneurial opportunity is discussed, both for individual religiously motivated entrepreneurs and for religious organizations themselves behaving in an entrepreneurial manner, consistent with established ideas about rational choice and religion.
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Conference Paper
This study explores the assumption of unlimited human wants in Islamic economics. From the theoretical approach, this research introduces new ideas of limitless human will. Islamic economists took the assumption of unlimited human wants (AUHW) and then altered and assimilated it with Islamic elements to be regarded as the assumption of Islamic economics. The question is, does AUHW’s assumption embrace Islamic economics? If suits, what are the theories of the assumption of unlimited human wants parallel to Islamic? Data used were taken from library studies. For this reason, contents and textual analyses were used. This study found that AUHW ’s assertion was parallel to Islamic economics. This study explores a new approach to assessing limitless human desires in Islamic context. Our contributions are confined to this field. Future works may offer unique viewpoints on infinite human needs spanning various geographies. This study offers a new parameter for Muslims to handle Islam-based tools. This study presents a new measure of Muslims discussing of unlimited human wants.
Chapter
This chapter discusses the role of social entrepreneurship in one of the long-lasting challenges of all cultures, women's empowerment. Empowering women is critical for development, and more importantly, it's a human rights issue. However, especially in developing country contexts, governments, international and non-governmental organizations may fall short to address the issue effectively. In this respect, social entrepreneurship may be an alternative to offer inclusive solutions. This chapter aims to generate a deeper understanding of how social entrepreneurship creates social value about women's empowerment. Following the qualitative methodology, a successful entrepreneurial initiative in Turkey, Çöp(m)adam is examined. Findings demonstrate that Çöp(m)adam contributes to both women's economic and psychological empowerment.
Purpose- The major purpose of this research article is to empirically analyze a moderated-mediated model to comprehend the interrelationships between religiosity, life hardship, attitude toward social entrepreneurship (SE) and corporate social entrepreneurial orientation (SEO). Design/methodology/approach- The constructivist grounded theory method was used to analyze interviews, and partial least squares structural equation modeling was selected to analyze the developed nine hypotheses. Findings- Based on the structural model outcomes, the practicing religious believers reported a significantly higher level of corporate SEO and propensity for social proactiveness, innovativeness, risk-taking, socialness and persistence (dimensions of SEO) than the nonpracticing believers. Practical implications- This study provides the practical implication that social entrepreneurs with a higher degree of congruence with the prevailing religious institutionalized logic in a society have a higher inclination to create social value through corporate practices and operations. Originality/value- This study presents an SEO scale that incorporates the dimensions of two SEO scales developed by Kraus et al. (2017) and Syrjä et al. (2019). To the best of the author's knowledge, the applicability and generalizability of this scale were supported for the first time in the SE discipline, particularly tourism SE. This scale effectively captures more characteristics of SE, particularly in the face of inefficient political and institutional forms.
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We examine the role of religiosity on the financing activities in both Islamic and conventional banks in Indonesian provinces by using five different measures of religiosity: number of Islamic schools, hajj application, number of Islamic seminary schools, number of Mosques, and number of certified halal products. Based on regression analysis, the results show that both Islamic and conventional banks provide more financing in religious provinces. Religiosity also helps in reducing the volume of non‐performing financing. Our the results are still qualitatively valid after taking into account endogeneity issue that emanates from omitted variables (i.e., unobservable beliefs, ideas, and attitudes), and possible reverse causality between religiosity and the total amount of financing at the province level.
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This study argues that religion and enterprise enjoy a complex and interdependent relationship. Analyzing the relationship between society, religion, and enterprise illustrates that religion operates as an environmental munificence factor. Investigating the relationship between the individual religion and enterprise shows that religion affects believers’ entrepreneurial activity, influencing the decision to become an entrepreneur, enterprise management, and the entrepreneur's contact network. Turning to theory, enterprise, and religion, we note that the spectre of Weber still haunts some analyses of the entrepreneurial middle class, and the literature does not clarify the extent of religiosity among entrepreneurs. Using quantitative techniques to study the level of religiosity among a sample of British entrepreneurs we found it to be similar to that of non-entrepreneurial samples. The low levels of religious belief and practice in Britain suggests that religion may not be a significant environmental munificence factor for British entrepreneurship.