Business, the environment and sustainability: an Islamic perspective

This paper explores the roles and responsibilities of business toward protecting the natural environment as a mean to create and maintain business sustainability from an Islamic perspective. The ultimate aim of a business is to maximize profit within the legitimate means, which is the bottom line of...

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Main Authors:	Mhd. Sarif, Suhaimi, Benjasom, Muhammad Husnee
Format:	Conference or Workshop Item
Language:	English English
Published:	2012
Subjects:	HF5387 Business ethics
Online Access:	http://irep.iium.edu.my/26501/ http://irep.iium.edu.my/26501/1/Proceedings_Of_The_AEC_2012.pdf http://irep.iium.edu.my/26501/2/Business_Environment_Sustain_Suhaimi_Husnee_AEC2012.pdf

id	iium-26501
recordtype	eprints
spelling	iium-265012013-09-17T03:30:18Z http://irep.iium.edu.my/26501/ Business, the environment and sustainability: an Islamic perspective Mhd. Sarif, Suhaimi Benjasom, Muhammad Husnee HF5387 Business ethics This paper explores the roles and responsibilities of business toward protecting the natural environment as a mean to create and maintain business sustainability from an Islamic perspective. The ultimate aim of a business is to maximize profit within the legitimate means, which is the bottom line of a business. The business greediness to pursue maximum profitability has contributed significant degradation of the natural environment, global warming and the reduction of greenhouse gases. This situation leads to negative consequences to the human and non human well being as well as business sustainability. A business is sustainable when it secures its profitability interest along with protecting the interest of the stakeholders and the natural environment. Hence, policy makers and business leaders formulated policies and programs to protect and preserve the environment from further degradation to protect and preserve business sustainability. However, many countries and major industry players are reluctant to participate in the programs. The study offers an integrative framework of business, the natural environment and sustainability from Islamic perspective, with a special reference to the Islamic Jurisprudence of the environment (Fiqh al-Bi’ah fi al-Islam) by Mustafa Abu-Sway, particularly the relationship between human beings and the environment (vicegerency, subjection, and inhabitation). Since the nature of the study is explorative, the research design fits into the constructionism research paradigm. The use of qualitative personal interview with the relevant informants provide rich insights to the objective of the study. The study used note taking approach in the personal interview with 35 respondents, which comprised five policy makers, 10 business leaders, and 5 community leaders in Malaysia and Thailand to provide the insights on the roles and responsibilities of business sectors toward protecting the natural environment and whether they are convinced that this approach contributes to business sustainability. The results of the study showed insignificant difference despite different geographical and political administration between Thailand and Malaysia. Policy makers from both countries were convinced that business sectors should include the natural environmental protection agenda into the business policies as part of the corporate social responsibility. The community leaders from both countries concurred with the policy makers that the business sectors should be more proactive in protecting the natural environment despite the ultimate business responsibility. Nevertheless, business sectors disagreed to burden the business solely with the responsibility to protect the natural environment as the duty to protect the natural environment is collective duties and responsibilities. In fact, business managers have to fulfill economic and legal responsibilities to maximize the value of the shareholders. The feedback from the informants suggest that policy makers, community leaders and business owners should revisit two duties and responsibilities to protect the natural environment and business sustainability, namely “subjection” and “inhabitation.” However, the results are not generalizable due to inadequate insights about the duties and responsibilities to protect the natural environment and to gain sustainability in business from Islamic perspective 2012-11-05 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/26501/1/Proceedings_Of_The_AEC_2012.pdf application/pdf en http://irep.iium.edu.my/26501/2/Business_Environment_Sustain_Suhaimi_Husnee_AEC2012.pdf Mhd. Sarif, Suhaimi and Benjasom, Muhammad Husnee (2012) Business, the environment and sustainability: an Islamic perspective. In: ASEAN Entrepreneurship Conference (AEC 2012), 5 - 6 November 2012, Kuala Lumpur.
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HF5387 Business ethics
spellingShingle	HF5387 Business ethics Mhd. Sarif, Suhaimi Benjasom, Muhammad Husnee Business, the environment and sustainability: an Islamic perspective
description	This paper explores the roles and responsibilities of business toward protecting the natural environment as a mean to create and maintain business sustainability from an Islamic perspective. The ultimate aim of a business is to maximize profit within the legitimate means, which is the bottom line of a business. The business greediness to pursue maximum profitability has contributed significant degradation of the natural environment, global warming and the reduction of greenhouse gases. This situation leads to negative consequences to the human and non human well being as well as business sustainability. A business is sustainable when it secures its profitability interest along with protecting the interest of the stakeholders and the natural environment. Hence, policy makers and business leaders formulated policies and programs to protect and preserve the environment from further degradation to protect and preserve business sustainability. However, many countries and major industry players are reluctant to participate in the programs. The study offers an integrative framework of business, the natural environment and sustainability from Islamic perspective, with a special reference to the Islamic Jurisprudence of the environment (Fiqh al-Bi’ah fi al-Islam) by Mustafa Abu-Sway, particularly the relationship between human beings and the environment (vicegerency, subjection, and inhabitation). Since the nature of the study is explorative, the research design fits into the constructionism research paradigm. The use of qualitative personal interview with the relevant informants provide rich insights to the objective of the study. The study used note taking approach in the personal interview with 35 respondents, which comprised five policy makers, 10 business leaders, and 5 community leaders in Malaysia and Thailand to provide the insights on the roles and responsibilities of business sectors toward protecting the natural environment and whether they are convinced that this approach contributes to business sustainability. The results of the study showed insignificant difference despite different geographical and political administration between Thailand and Malaysia. Policy makers from both countries were convinced that business sectors should include the natural environmental protection agenda into the business policies as part of the corporate social responsibility. The community leaders from both countries concurred with the policy makers that the business sectors should be more proactive in protecting the natural environment despite the ultimate business responsibility. Nevertheless, business sectors disagreed to burden the business solely with the responsibility to protect the natural environment as the duty to protect the natural environment is collective duties and responsibilities. In fact, business managers have to fulfill economic and legal responsibilities to maximize the value of the shareholders. The feedback from the informants suggest that policy makers, community leaders and business owners should revisit two duties and responsibilities to protect the natural environment and business sustainability, namely “subjection” and “inhabitation.” However, the results are not generalizable due to inadequate insights about the duties and responsibilities to protect the natural environment and to gain sustainability in business from Islamic perspective
format	Conference or Workshop Item
author	Mhd. Sarif, Suhaimi Benjasom, Muhammad Husnee
author_facet	Mhd. Sarif, Suhaimi Benjasom, Muhammad Husnee
author_sort	Mhd. Sarif, Suhaimi
title	Business, the environment and sustainability: an Islamic perspective
title_short	Business, the environment and sustainability: an Islamic perspective
title_full	Business, the environment and sustainability: an Islamic perspective
title_fullStr	Business, the environment and sustainability: an Islamic perspective
title_full_unstemmed	Business, the environment and sustainability: an Islamic perspective
title_sort	business, the environment and sustainability: an islamic perspective
publishDate	2012
url	http://irep.iium.edu.my/26501/ http://irep.iium.edu.my/26501/1/Proceedings_Of_The_AEC_2012.pdf http://irep.iium.edu.my/26501/2/Business_Environment_Sustain_Suhaimi_Husnee_AEC2012.pdf
first_indexed	2023-09-18T20:39:28Z
last_indexed	2023-09-18T20:39:28Z
_version_	1777409268312440832

Business, the environment and sustainability: an Islamic perspective

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