Journal Article•
Ethics in Business Management
About: This article is published in Asian Journal of Professional Ethics & Management.The article was published on 2009-09-04 and is currently open access. It has received 1 citations till now. The article focuses on the topics: Business relationship management & Philosophy of business.
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TL;DR: This paper develops a new approach that links performance to the ethical vision of Islam based on maqasid al-shari’ah (i.e., the objectives of Islamic law) via a Pentagon-shaped performance scheme structure via five pillars.
Abstract: Business performance is traditionally viewed from the one-dimensional financial angle. This paper develops a new approach that links performance to the ethical vision of Islam based on maqasid al-shari’ah (i.e., the objectives of Islamic law). The approach involves a Pentagon-shaped performance scheme structure via five pillars, namely wealth, posterity, intellect, faith, and human self. Such a scheme ensures that any firm or organization can ethically contribute to the promotion of human welfare, prevent corruption, and enhance social and economic stability and not merely maximize its own performance in terms of its financial return. A quantitative measure of ethical performance is developed. It surprisingly shows that a firm or organization following only the financial aspect at the expense of the others performs poorly. This paper discusses further the practical instances of the quantitative measurement of the ethical aspects of the system taken at an aggregate level.
57 citations
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TL;DR: This paper develops a new approach that links performance to the ethical vision of Islam based on maqasid al-shari’ah (i.e., the objectives of Islamic law) via a Pentagon-shaped performance scheme structure via five pillars.
Abstract: Business performance is traditionally viewed from the one-dimensional financial angle. This paper develops a new approach that links performance to the ethical vision of Islam based on maqasid al-shari’ah (i.e., the objectives of Islamic law). The approach involves a Pentagon-shaped performance scheme structure via five pillars, namely wealth, posterity, intellect, faith, and human self. Such a scheme ensures that any firm or organization can ethically contribute to the promotion of human welfare, prevent corruption, and enhance social and economic stability and not merely maximize its own performance in terms of its financial return. A quantitative measure of ethical performance is developed. It surprisingly shows that a firm or organization following only the financial aspect at the expense of the others performs poorly. This paper discusses further the practical instances of the quantitative measurement of the ethical aspects of the system taken at an aggregate level.
57 citations