Practices of Islamic Ethics in the Electronics Industry in Bangladesh: A Study on Minister Hi-Tech Park Electronics Ltd.

  • M.A Razzak Khan M.Phil Fellow, Faculty of Business Administration, Bangladesh University of Professionals, Mirpur Cantonment, Dhaka,Bangladesh.
  • Wasib Bin Latif Assistant Professor, World School of Business, Department of Business Administration, World University of Bangladesh, 3/A, Road # 4, Dhanmondi, Dhaka 1205, Bangladesh.
  • Selim Ahmed Assistant Professor, World School of Business, Department of Business Administration, World University of Bangladesh, 3/A, Road # 4, Dhanmondi, Dhaka 1205, Bangladesh.
  • Marzan Ara Hira Research Assistant, Minister –Hi- Tech Park Limited, H-79, Block-H, Chairmanbari, Banani, Dhaka-1213,Bangladesh.
  • Dil Ruba Tanu M.Phil Fellow, Faculty of Business Administration, Bangladesh University of Professionals, Mirpur Cantonment, Dhaka-1213,Bangladesh.
Keywords: Islamic Ethics, Morality of Individuals, Free Enterprise, Haram Items, Racism, Mutual Consent, Minister Hi-Tech Park Electronics Ltd.

Abstract

The main purpose of this paper is to identify the practices of Islamic ethics at Minister Hi-Tech Park Electronics Ltd. on the basis of focus group discussion. Islam places the most emphasis on ethical values in all aspects of human life especially in business. By running the business Islamic point of view Minister Hi-Tech Park Electronics Ltd. is attaining competitive advantage. There have been three focus group of discussion; the first one is with the internal employees of the company (top management to field level employee, the second one is with the board of Shariah and stakeholders of the company (investors, suppliers, creditors, competitors) and the third one is with the income and tax revenue board of Bangladesh. The paper has also presented the various repeatedly verses from Quran and the teachings of the prophet. The three focus groups discussed on the basis of Quran, Hadith and the variables like “Islam as entire course of life”, “Morality of individuals, Superiority of business concept, “Integrated business ethics”, Racism, Mutual consent, Halal Items practice of Minister Hi-Tech Park Ltd. Being Muslims, we have to follow the rules and regulation of Islamic ethics which stated by Islamic jurisprudence. Minister Hi-Tech Park Ltd. will sustain its image and will be able to survive.

Downloads

Download data is not yet available.

References

Abbasi, A., Akhter, W., & Umar, S. (2011).Ethical issues in advertising in Pakistan: An Islamic perspective.

Abdalati, H. (1993). Islam in focus.American Trust Publications.

Abdalati, Hammudah. Islam in focus.American Trust Publications, 1993.

Abeng, T. (1997). Business ethics in Islamic context: Perspectives of a Muslim business leader. Business Ethics Quarterly, 7(3), 47-54.

Abuznaid, S. A. (2009). Business ethics in Islam: the glaring gap in practice. International Journal of Islamic and Middle Eastern Finance and Management, 2(4), 278-288.

Agle, B. R., Donaldson, T., Freeman, R. E., Jensen, M. C., Mitchell, R. K., & Wood, D. J. (2008). Dialogue: Toward superior stakeholder theory. Business Ethics Quarterly, 18(2), 153-190.

Ahmad, K. (1974). Family life in Islam.Islamic Foundation.

Ali, A. (1987). Value systems as predictors of work satisfactions of Arab executives.International Journal of Manpower, 8(2), 3-6.

Alom, M. M., & Haque, M. S. (2011). Marketing: an Islamic perspective. World Journal of Social Sciences, 1(3), 71-81.

Aminuddin, M. (2009). Employment Relations in Malaysia: Past, Present, and Future. New Zealand Journal of Asian Studies, 11(1), 304-317.

Azmi, S. (2005).An Islamic approach to business ethics.Renaissance, online.

Beauvais, C., & Jenson, J. (2002). Social cohesion: Updating the state of the research (Vol. 62). Ottawa: CPRN.

Beekun, R. I. (1997). Islamic business ethics (No. 2).International Institute of Islamic Thought (IIIT).

Beekun, R.I. (1997), Islamic Business Ethics, The International Institute of Islamic Thought, Virginia. Beekun, R.I.

and Badawi, J.A. (2005), 'Balancing Ethical Responsibility Among Multiple Organizational Stakeholders: The Islamic Perspective,' Journal of Business Ethics, 60, 131-145.

Brief, A. P., Dietz, J., Cohen, R. R., Pugh, S. D., & Vaslow, J. B. (2000).Just doing business: Modern racism and obedience to authority as explanations for employment discrimination.Organizational behavior and human decision processes, 81(1), 72-97.

Dil Ruba Tanu, Selim Ahmed, & Wasib Bin Latif. (2018). Measuring Customer-Based Brand Equity and Brand Competitiveness: An Empirical Study of Minister Brand in Bangladesh.Journal of International Business and Management 1(3): 1-14.

El Hajj, I. I., Imperiale, T. F., Rex, D. K., Ballard, D., Kesler, K. A., Birdas, T. J., ...& DeWitt, J. M. (2014). Treatment of esophageal leaks, fistulae, and perforations with temporary stents: evaluation of efficacy, adverse events, and factors associated with successful outcomes. Gastrointestinal endoscopy, 79(4), 589-598.

Harsanyi, J. C. (1975). Can the maximin principle serve as a basis for morality? A critique of John Rawls's theory.American political science review, 69(2), 594-606.

Johari, N., Mustaffha, N., & Deni, M. I. M. (2016).Accounting Education: Integration of Islamic Values. In Proceeding the Second International Conference on Management and Muamalah,(Malaysia: Kolej Universiti Islam Antar Bangsa Selangor, 2015) (Vol. 100).

Manevitz, L. M., & Yousef, M. (2001).One-class SVMs for document classification.Journal of machine Learning research, 2(Dec), 139-154.

Modood, T. (2006).Ethnicity, Muslims and higher education entry in Britain.Teaching in Higher Education, 11(2), 247-250.

Mollah, M. Y. A., Schennach, R., Parga, J. R., & Cocke, D. L. (2001).Electro coagulation (EC) science and applications.Journal of hazardous materials, 84(1), 29-41.

Morris, M., Schindehutte, M., & Allen, J. (2005). The entrepreneur's business model: toward a unified perspective. Journal of business research, 58(6), 726-735.

Nelson, M. E., Rejeski, W. J., Blair, S. N., Duncan, P. W., Judge, J. O., King, A. C., ... & Castaneda-Sceppa, C. (2007). Physical activity and public health in older adults: recommendation from the American College of Sports Medicine and the American Heart Association. Circulation, 116(9), 1094.

Omar, K., Hasim, S., Muhammad, N. A., Jaffar, A., Hashim, S. M., & Siraj, H. H. (2010). Adolescent pregnancy outcomes and risk factors in Malaysia.International Journal of Gynecology & Obstetrics, 111(3), 220-223.

Rafik, I. B. (1996).Islamic business ethics. International Institute of Islamic Thought at www. islamist. org/images/ethicshm. pdf [June, 16 2003].

Ragab Rizk, R. (2008). Back to basics: an Islamic perspective on business and work ethics. Social Responsibility Journal, 4(1/2), 246-254.

Rice, Gillian. "Islamic ethics and the implications for business."Journal of business ethics 18, no. 4 (1999): 345-358.

Salman, F., & Siddiqui, K. (2011). An exploratory study for measuring consumers awareness and perceptions towards halal food in Pakistan.Interdisciplinary journal of contemporary research in business, 3(2), 639-65.

Shah, Z. A., Li, R. C., Ahmad, A. S., Kensler, T. W., Yamamoto, M., Biswal, S., & Doré, S. (2010). The flavanol (−)-epicatechin prevents stroke damage through the Nrf2/HO1 pathway. Journal of Cerebral Blood Flow & Metabolism, 30(12), 1951-1961.

Shuhairimi, A. (2009). Hakikat Solat.

Singh, U., Rani, B., Chauhan, A. K., Maheshwari, R., & Vyas, M. K. (2012).Role OF Environmental Biotechnology in Decontaminating Polluted Water.International Journal of Life Science Biotechnology and Pharma Research, 1(1), 33-46.

Stoll, B. J., Hansen, N., Fanaroff, A. A., Wright, L. L., Carlo, W. A., Ehrenkranz, R. A., ... & Oh, W. (2002). Late-onset sepsis in very low birth weight neonates: the experience of the NICHD Neonatal Research Network. Pediatrics, 110(2), 285-291.

Uddin, S. J. (2003). Understanding the framework of business in Islam in an era of globalization: a review.Business ethics: a european review, 12(1), 23-32.

Wasib Bin Latif, Selim Ahmed, Shabuz Mahmud, Mohammed Abdul Jalil, Syada Ummul Aowara Suchana. (2017). Prospects and Constraints of Tourism Sector in Bangladesh: An Analysis. International Journal of Ethics in Social Sciences, 5(2), 73-81.

Wilson, J. A., & Liu, J. (2010). Shaping the halal into a brand?.Journal of Islamic Marketing, 1(2), 107-123.

Yao, J. C., Hassan, M., Phan, A., Dagohoy, C., Leary, C., Mares, J. E., ...& Evans, D. B. (2008). One hundred years after “carcinoid”: epidemiology of and prognostic factors for neuroendocrine tumors in 35,825 cases in the United States. Journal of clinical oncology, 26(18), 3063-3072.

Yunanda, R. A., & Majid, N. A. (2011). The contribution of Islamic ethics towards ethical accounting practices. Issues in Social and Environmental Accounting, 5(1/2), 124-137.

Published
2019-02-26
How to Cite
Khan, M. R., Latif, W. B., Ahmed, S., Hira, M. A., & Tanu, D. R. (2019). Practices of Islamic Ethics in the Electronics Industry in Bangladesh: A Study on Minister Hi-Tech Park Electronics Ltd. International Journal of Islamic Business & Management, 3(1), 1-13. Retrieved from https://www.cribfb.com/journal/index.php/ijibm/article/view/232
Section
Articles