Yes, its true. A publication by the name of “The Little Book of Atheist Spirituality” actually exists. How did I come across this? Here’s the story:
I was recently in one of my favorite classes in the Master of Entrepreneurship program studying about commercializing high-tech ventures. The Professor, who is a famous researcher across North America, brought up the topic of Business Ethics. The class discussed a number of issues around this topic, and how they relate to entrepreneurs, but I was most interested in discussing the “circularity” of Business Ethics in the West. When dealing with ethics, the problem is that there is no real conclusion in the West because you aren’t allowed to make any definitive statements (some food for thought for Freedom of Speech Advocates). You can refer to Aristotle, or Jesus (peace be upon him) or Mother Teresa, but you can’t end the discussion at any of their philosophies because nothing is supposed to be absolute. When life is all about relativism, personal truths and individualism, how can you possibly arrive at a universal conclusion?
Islam on the other hand is different. Truth is clear from falsehood and with the Mercy of God, the ensuing scriptures, the Quran and Sunnah, actually address day-to-day issues. For this very reason, I propose the writing of new piece of literature called “The Little Book of Islamic Business Ethics.” Through this book, readers, especially Westerners, will be able to get a glimpse into the wisdom, depth and vastness of Islamic Business ethics and how tough decisions can be made simply and beautifully using treasures of knowledge from the past.
I propose the following topics to be included in “The Little Book…” and I will be adding to the list as YOUR comments come in.
May Allah reward you for your contributions:
(1) Valuations
(2) Intellectual Property
(3) Buying and Selling
(4) The Profit Motive
(5) Social Responsibility
(6) Bargaining Power
(7) Lending
(8) Ownership
(9) Partnerships
(10) Market Research
(11) Your suggestion
(12) Your suggestion
(13) Your suggestion
Thanks for reading,
Mak.
![[del.icio.us]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/delicious.png)
![[Digg]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/digg.png)
![[Facebook]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/facebook.png)
![[Google]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/google.png)
![[LinkedIn]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/linkedin.png)
![[Mixx]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/mixx.png)
![[MySpace]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/myspace.png)
![[StumbleUpon]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/stumbleupon.png)
![[Twitter]](http://www.productmuslim.com/wp-content/plugins/bookmarkify/twitter.png)
14 Responses
- contracts: could cover a range of topics like the ethics revolving around shoving things into the fine print, how far one must go to honour a contract, how to fairly distribute liability in case of breach of contract
- competition: comments on Islam’s view on monopolies, what role does an entrepreneur have in preventing monopolies. How does one balance competition and “brotherhood/sisterhood”?
- advertising. I remember reading somewhere that when you sell a house, you are required to provide full disclosure regarding every flaw. Often this is contradictory to the traditional style of advertising where you hype up a product’s strengths and downplay/ignore its weaknesses. How does a Muslim advertise fairly and still remain competitive?
[Reply to this Comment]
majid Reply:
7.19.2009
Your point about a balanced advertising approach is so true. I think one advantage of having such high ethical standards is that the Muslims are motivated to providing high quality products that they would be confident selling. Just imagine the quality control standards that could be implemented if you are being forced to declare all the ins and outs of a product! Great points Fezzik.
[Reply to this Comment]
The Prophet Muhammad, sallallahu alayhi wa sallam, said that the honest merchants will be with the prophets, truthful ones, and martyrs in the hereafter. One reason for such a lofty position is how difficult it actually is to be a completely honest merchant. What do you say when a customer asks, “Does this look good on me?”, or about a competitor’s product? It’s very easy to fall into dishonest business practices, and so I think a book like this could be very useful and important for any muslim business men and women.
[Reply to this Comment]
Majid Mirza Reply:
10.13.2009
Wow David… your questions just opened up my mind. Kind of a scary notion if you’re selling clothes and they actually look bad on the customer. The only way this would from an Islamic standpoint, is if your customer was your wife (then you could lie!)
[Reply to this Comment]
Islamic business ethics would be very beneficial in making non- Musslims as well Musslims living in Western countries to understand the benefits of doing business the Islamic way. Important points to bring up may include how a Musslim can start a new venture without relying on loans or financing? The consequences of unfair competition, and overpricing. Whether certain objects (unlawful to Musslims) can be sold by Musslims to non Musslims, etc?
[Reply to this Comment]
Majid Mirza Reply:
10.13.2009
Salam Adnan:
Your point about financing is something I’ve heard repeated over and over again. The Western Venture Capital system has brainwashed the world into believing you can’t start a business until you have millions of $ in your bank account.
Now compare this to this story of Abdur Rahman b. Auf who rebuilt his wealth in Madina, not by seeking millions in capital investment, but by asking “is there a marketplace here where people trade?” SubhanAllah!
“When we came to Medina, the Messenger of God established bonds of brotherhood between me and Sa’d b. al-Rabee. Sa’d said: ‘I am the wealthiest of the Ansar[1], so I will give you half of all my wealth. And see which of my wives you prefer, I will divorce her for you, and when she becomes lawful (as a divorcee), you can marry her.’ I (Abdur-Rahman) said to him: ‘I do not need that. (But tell me), is there a marketplace here where people trade?’ Sa‘ad said: ‘There is the marketplace of Qaynuqa’… And so, the following day Abdur-Rahman went to the market to begin trading. Before long, he was once again wealthy, as he had been in Mecca, and able to marry of his own accord.” (Saheeh Al-Bukhari)
[Reply to this Comment]
Majid Mirza Reply:
10.13.2009
FYI here is the link for the hadith above:
http://www.islamreligion.com/articles/437/
[Reply to this Comment]
Networking with Iklas: I think all too often in North American business, the quality of being insincere and sly with your social networking is seen as a virtue. Business people will often show great interest in another person simply because of what they can get out of them, and then go back-bite about that same person when it is strategic. I think your book should have a section on bridging the Islamic value of sincerity between one’s self, others and their particular field of business.
[Reply to this Comment]
Majid Mirza Reply:
10.13.2009
Absolutely Rhyan. The word “networking” seems so artificial and self-interested. Shouldn’t all human beings greet each other, make polite conversation and try to help each other in whatever way possible, regardless of business consequences? I guess that’s why so many people use the phrase “relationship-building” now. Awesome point mashAllah.
[Reply to this Comment]
This is a very interesting read, as well as all the comments.
I have always wondered what did Muslim merchants exactly do so that through them Islam was spread in places like Indonesia (largest Muslim country in the world where not a single sword was lifted). This page made me realize a bit closer how very appealing and standing out a truly honest and sincere person can be. SubhanAllah. If only there are many Muslim entrepreneurs and businessmen in the West that implement the teachings of Islam in their trade.
[Reply to this Comment]
Majid Reply:
3.3.2010
Alhamdolillah. Glad you found it useful Abdel-Rahman. Do you remember any character traits, sayings or teachings of the Rasool (saw) that could go into the Little Book of Islamic Business Ethics?
[Reply to this Comment]
I think a good thing to add to the list is “Ethics in Auctions.”
[Reply to this Comment]
Majid Mirza Reply:
3.3.2010
What kind of narrations could we include in the book about auctions?
[Reply to this Comment]
AbdelRahman Elsayed Morsey Reply:
3.3.2010
I can’t seem to find a specific hadith about this, but what I know is in Shafi’i Fiqh there is something called “al-Najash” which is unlawful (Haraam). al-Najash is when someone not actually interested in a buying the product but just bidding up the price too fool the bidder.
“It is unlawful to bid up the price of a piece of merchandise that one is not really interested in, to fool another bidder.” (Umdat as-Saalik, Book of Trade, k4.8)
The book doesn’t mention the sources of how scholars of shafi’i madhhab arrived at this ruling (or else the book will be VOLUMES long), but even if there is no specific hadith that specifically forbids fooling people bidders, I am sure qiyas (reasoning) can be applied using other ahadith with more general principles of honesty, truth, and trustworthiness in trade and business transactions.
[Reply to this Comment]