The Adoption Of Islamic Business Practices - 1286 Words

The adoption of Islamic business practices by organizations: Why, How and what are the performance outcomes Organizations in most industries face increased competitive pressures from other organizations that aim to satisfy customer demands. One of the most significant issues that face organizations today is International competition in rapidly changing environment (Porter, 1986). Competition creates diverse, new capabilities into an industry and more dynamic and uncertain competitive environment. In industry the speed of technological developments might have changes due to increased competition (Wiersema and Bowen, 2008). In most global industry the fast development of products and process innovations has become very important in order to achieve competitive advantage (Bettis and Hitt, 1995). The expectations of customers are increasing, and to meet the needs of the customer, organizations are competing with each other. They are looking for ways they can get more profits and market share. There are many factors to this increased competition, as technology and globalization have shortened d istances and consumers are now aware of more products and services (Frà ©sard and Valta, 2012). The world is changing rapidly and ways of doing business have also changed. Globalization and technology have changed the way corporations do work and how they treat their customers and employees. Globalization has also increased competition. Now standards have changed, and organizations areShow MoreRelatedConcept Of Islam And Sharia Law1551 Words   |  7 Pagesthe world, many countries are Islamic countries and these practices ‘Sharia Law’. Muslims are mainly divided into two sects, Sunnis and Shias. Sharia Law is the body of Islamic Law. This Arabic term means ‘way’ or ‘path’ in English. Sharia law is a legal framework that governs and regulates public as well as some private aspects of lives of those living in a legal system based on Islam. It includes mostly all the aspects of everyday life like, politics, economy, business and contract laws, laws relatedRead MoreThe Factors Influencing Corporate Social Responsibility Disclosure1037 Words   |  5 Pages Keywords: Corporate Governance, Corporate Social Responsibility, Social Accounting, Sustainable Reports. 1. Introduction Corporate social responsibility â€Å"CSR† and corporate governance â€Å"CG† are prior agenda for policy makers, researchers and business managers in countries across the world. This has greater relevance after memorable cases such as Arthur Anderson, Worldcom and Enron in the USA. CG has been brought under greater scrutiny following the global financial crisis of 2007-2008 (PetersRead MoreIslam : Religious Aspects Of Islam1380 Words   |  6 Pagesenhanced his status in the city of Mecca. Besides the religious aspects of Islam, trades and commerce were proven to be a very important benefit for the Islamic empire and for the rest of the world, especially with international and intercontinental trade. When you have a civilization that is very prominent in trade all across the world, new ideas and practices will emerge. Educations was the focus point for the Muslims, which help in the development of arts and science. Also, a new intellectual and spiritualRead MoreThe Eg yptian Corporate Responsibility Center1246 Words   |  5 PagesAccording to ECRC, corporate social responsibility in Egypt is defined as the adoption of sustainable business models and practices that have positive impacts on the society. The private sector in Egypt is responsible for creating about 70% of all employment in the country. However, there is room for the private sector to improve its social offerings to the society in general through corporate social responsibility. The Egyptian corporate responsibility center (ECRC) was established in the yearRead MorePossible Topics for Marketing Paper1682 Words   |  7 PagesHuman Resource, Management, International Business Management, Marketing, Risk Management amp; Insurance and Transportation Management.  Master Of Science In Business Management  (BM 780)1) Shahrul Amri Ab Wahab * The Relationship Between Perceived Organizational Politics and Job Performance: The Role of Emotional Intelligence and Spirituality2) Yusniza   Md  Yusof * Medical Costs on Light Motorcycle Injury Victims3) Wan Izzuddin Al-Munir Wan Kamaldin * Islamic Perspectives on Hire-Purchase: An AnalysisRead MoreComparison Between E-Business and Traditional Business1559 Words   |  7 PagesElectronic Business (E-Business) is a perplexing practice due to the numerous aspects it involves. In today’s rapidly changing environment, organizations adopt E-Business to respond to several business drivers. The progressions of the macro-environments are creating innovative business environments, in which E-Business is considered a normal practice. This paper attempts to model the business environment and evaluate its competitive characteristics by comparing the traditional business with E-BusinessRead MoreGlobal Market Forces Of Islamic Banking Essay3559 Words   |  15 PagesIt is undeniable fact that Islamic banking system has been flourishing for last few decades and now has become the focus of global market forces. Pionee rs of Islamic banking proclaim that foundational principles of Islamic banking is allied with Shari’ah guidance and their accounting practices, policies and financial reporting mechanism is based on Sharai’ah values. Consequently, Islamic institutions have the responsibility to follow Islamic rulings in all their practices. The core purpose of thisRead MoreThe Development Of Global Financial Reporting1871 Words   |  8 PagesThe development of global financial reporting is significant because of the recent false, fraudulent and insufficient financial statement information presented by various companies locally and abroad. In the past years, business and accounting practices have failed to inhibit assurance and trust to their investors Thus, governments have questioned if the implementation of increased regulation would be the answer in helping to eliminate fraudulent behavior. Unfortunately, companies such as Enron andRead MoreThe Differences Between Conventional and Islamic Accounting3364 Words   |  14 PagesTHE DIFFERENCES BETWEEN CONVENTIONAL AND ISLAMIC ACCOUNTING ABSTRACT The concern of this project paper is to explore the differences between Islamic accounting and its conventional counterpart. The distinctions need to be addressed as both accounting is presently thought of many people as synonymous. There is danger for such kind of perception because the basic building blocks for respective accounting are worlds apart. As for professional accountants who have been taught on the idea for accountingRead MoreThe Culture And Customs Of Ghana1714 Words   |  7 PagesFor example, Kente clothes are made from cotton, silk, and raffia. Salm and Falola claim that, The cultures and customs of Ghana today are a product of diversity in indigenous form, influenced by a long history of Islamic and European contacts. They represent a dynamic process of adoption and adaptation, incorporating elements of outside cultures. The Ghana Boy tunics are a good example of how African artists combined elements of traditional African work with European elements. They are made in