Islamic Entrepreneurship and Business Mindset Teaching Model of Islam

Abstract

In today's global pursuit of material wealth, business organizations have transmuted into profit-driven entities, prioritizing financial gains over moral considerations in, both, Western and Eastern societies. This shifting trend has eclipsed the fundamental Islamic principle of “Ibadah,” emphasizing complete surrender to Allah (SWT) in daily business operations. To counter the prevailing trend, the chapter puts forth a Teaching Model suggesting the integration of an Islamic entrepreneurship mindset in academic institutions, particularly in business schools. This model involves incorporating the economic philosophy of Islamic scholars like Al-Ghazali into curricula to foster a moral community, encouraging individuals to contribute meaningfully to society while addressing market dynamics through an internal governance framework, mitigating monopolistic tendencies and unethical practices.