Business Ethic; Is It Oxymoron?
Assalamualaikum :)
I first heard about this term of
oxymoron is at my first class, the first
lecture of Business Ethic and Corporate Governance by Professor Sr
Dato' Doktor Kamaruddin B. Mat Nor around three weeks ago and now I
write about it. How awesome is that? Haha. A brief introduction for
this magnificent lecturer is unnecessary is you just look at his
title, it even longer than his name. That is enough to show how
awesome he is. Haha.
Okay back to our cliché!!
People keep repeating this cliché because deep down, they know that not everyone are able to adhere business ethics. Business ethics is a group, combination or the branch of ethics that examines ethical rules and regulation; obligation that had been around in commerce. It's not easy to be ethical and to know what the right thing to do because of the fast-moving and complex life; modern life or modern business. David Liss in his novel, The Coffee Trader write “A man of business lies all the time”
Well, from my opinion these comments are wrong on two count. First, lies are not merely the rules of business, it is actually the exception in doing business. Tell me! are you going to do business with someone you don't trust, no right? so fundamentally it start with trust or depend on each other.
Second, I as a Muslim are bound by the obligation towards Allah S.W.T. Islam has teach us, guiding on how we should behave, even prescribe and explains the business ethics. There are numerous teaching of Prophet Muhammad (pbuh) regarding this ethical subject. Says the Holy Qur'an
You are the best nation produced (as an example) for mankind. You enjoin what is right and forbid what is wrong and believe in Allah. (Surah Ali Imran, 110)
Prophet Muhammad (pbuh) said:
This Qu'ran is the strong rope of God; it contains justice, the stream of knowledge, the spring of the heart (al-Darimi' fada'tl al-quran,1)
I have been sent down to bring good moral to perfection (Malik busn al-khuluq,8: Ibn Hanbal, II, 281)
These text clearly shows that religion is moral. However, Qu'ran is not the only divine book that emphasis ethics and Muslim thinkers are not the only one who adapt this idea. The Bible, in the same vein, the similarity of this notion that can be or have been applied in commerce world. Plato discussed justice in the republic, Aristotle condemned usury(Riba) and many Muslim are unaware of this. Also among any others in reformation personalities like Martin Luther, Malcolm x, or Mahatma Gandhi all of this people believes in justices, in equality, also discussed trade and commerce.
However in western world, economic activities had been separated from religion just as politics had been separated from the church, just as Islam had been removed from the politics when Mustafa Kemal Atarturk decided to implemented secularism and not just politics but the way of life. Still, if we compare Islamic business ethic and Modern Western approach we'll find a lot of similarities example like sexual harassment, employment benefit, conflict of interest, missuses of assets, environmental pollutant. Although there is numerous similarity between Islamic point of view and western approach there is differences in term of source and nature. Modern Western ethics literally is secular while Islamic business ethics is originated from the revelation and tradition of Prophet Muhammad (pbuh), Qu'ran and Sunnah.
As a Muslim, we are bound by the obligation toward fair business practices. Breach of it will cause a punishment from God, as Allah knows of everything. We are not allow to deal with alcohol, prostitute, gharar or riba(usury) but in secularism all or some of this are allowed. Thus, as a Muslims we must never neglect the welfare of employee, quality standard, respect for the rules, respect for the environment and contributing or serve the community as a whole. Familiar with the word Khalifah. Allah create mankind with two roles. First as a humble servant that worship Him and to be Allah's Khalifah on this earth.
“Remember when your Lord said to the angels ‘Verily I have created a Khalifah on the earth’...And He taught Adam the names of all things...”
(Al-Baqarah
30-31)
A Khalifah is someone who carries out their role as the representative of Allah on earth, carrying out the Will of Allah using the powers and abilities Allah has in His Mercy endowed us with. It is aspecial honor for us to be chosen as Allah’s Khalifah. As a Khalifah of Allah, we must make ourself good, make a good society and make the physical around us good. Generally make this world a better place to live.
The Prophet Muhammad (pbuh) said:
“When someone dies, all his deeds will come to an end except in three instances: charity, knowledge that is of benefit, and pious children who will make supplications for him.” (Muslim)
In other words, Islamic business ethics must be conceive by Muslim and Non-Muslim.
However, present day they only talk about Islamic way of life but in reality it is the opposite way. Still remember oxymoron? Did Islam make a hypocrites? Remember Islam is perfect but Muslim are not. Don't blame it on the religion but blame it on to the people. How can man be so blind, born as a Muslim, raise as a Muslim and in the end, blindly against the revelation and the preaching of Prophet Muhammad (pbuh), Qu'ran and Sunnah.
Perhaps or maybe the cliché is not so cliché
Assalamualaikum :)
reference
Al-Qu'ran
Dictionary of Contemporary English new edition
http://www.renaissance.com.pk/Mayviewpoint2y5.htm#_ftnref1
http://dawn.com/2011/07/22/business-ethics-in-islam/
Corporate Governance
Assalamualaikum :)
Recently, corporate governance has
been defined as “a system of law and sound approaches by which
corporations are directed and controlled focusing on the internal and
external corporate structures with the intention of monitoring the
actions of management and directors and thereby mitigating agency
risks stemming from the devious deeds of these corporate officers”.
Theoretically it means in principle it is a set of systems or process
by which a company is governed.
Did you notice the word internal and
external corporate structures from the wiki definition? “internal” here from my point of
understanding is a relationship entirely consist of worker within the
corporate enterprise. Literally it is the controlling mechanism
between various actor inside the firm;
Example of internal corporate
governance is:
- The Corporate Charter of the firm
- Board of directors
- Supervisory board
“External” encompasses the
influences from outside the firm. Such as stakeholders, shareholders
or trade creditors. From my point of view, External corporate
governance sometimes distinguished from “internal” but I think
their relationship are intertwined. The inextricable connection
between “external” and “internal” can possibly derived from
the legal framework created by the governments, for better or worse,
many “internal” relationships within corporation exist because of
this framework.
Example External Corporate Governance
is:
- Legal and Supervision
- national law and regulation
- supranational law and regulation
- corporate governance codes
- service provider
- media
Depending on the country some aspect
can be internal, external or both. Example like:
- In the US and other Anglo-Saxon countries we can generally see a bigger trust in markets,shareholders with resulting focus on external corporate governance.
- Europe and Japan generally rely more on relationship, networks, stakeholders and consider Internal CG-mechanism as more important.
References
Dictionary of Contemporary English
I'm Sorry Pak Din aka Abah
I can't think of any product i want to advertise here that will benefit me or others. Up until now I still blank, I'm very sorry pak din I can't finish up your assignment :( but still work need to be done so instead of selling a product at blog I will tell you about my business hehe :)
taadaaaa! haha
yupp i open a burger stall but not just burger but burger grill haha :)
it is located near the Banjaria Court Apartment, Samudra and in front of the Wisma DMG. you can google maps it if you want :)
and because of now I'm a full time student at UniKL so i hire one, very dedicated worker to help me haha :)
his
name is Hisyam ,24 , and married. he is blessed with one adorable son.
His son were very cute... that i can assure you haha :). It's been 4
month now since the first day i open. The business Alhamdullillah is
going well and in 3 month from now Insyaallah i will turn this....
into this...
doa-doakan saya ye pak din :)
Assalamualaikum
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