Islamic Ethics and Crisis Management

Islamic Ethics and Crisis Management

Copyright: © 2021 |Pages: 15
DOI: 10.4018/978-1-7998-5295-7.ch003

Abstract

The Islamic ethical system is unique and respects the rights of individuals. The Islamic codes and principals are based on the attitudes, morals, virtues, and obligations of the individual and whole civilisation. In multinational companies (MNC), ethical codes and principals are undermined in terms of human feeling, values, and beliefs. The Prophet Muhammad (PBUH) stated that the aim of his mission is to enhance good morals and values among my ummah and individual people. The chapter examines and evaluates the fundamental belief that the Islamic ethical system is there to serve and develop good morality and avoid indecency and immoral conducts within business dealings.
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Introduction

The ethics is integral part of the multinational companies (MNCs) activities and for their workforces. The ethic policies within multinational companies can cause long term complications and conflicts for people with different backgrounds and religion. Most of the multinational companies faces challenge how to adopt ethic policies which can meet the need of the workforces with different cultural background and religions. Hadisi (2014, p.34) states that:

Islam refers to business as a sine qua non of human life. It is such an essential factor that before the prophet Mohammad’s mission inception, God guided him to become a successful merchant in the first place.

The Islamic ethics system is designed to help the traders and customers to operate in honest miner. More importantly the Islamic ethics system emphasis that our personal and business dealing should be according to commandment of Allah and ethical behaviour to be part of the faith. It is essential to understand that according to Islam business activities should be conducted as part of the worship and obedience to Allah. Prophet Muhammad (PBUH) stated that:

The truthful merchant is rewarded (by being ranked) on the Day of Resurrection with prophets, veracious souls, martyrs and pious people (Hadith- Tirmidhi)

The trade was one of the most essential tools in the time of Prophet Muhammad (PBUH) and his companions that played part in spreading Islam, because following specific Islamic principles and codes of practice according Quran and Hadith. This chapter will critically analyse and evaluate the business ethics codes and principles for multinational companies in accordance to Islamic ethics code of conduct.

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