Contribution of Islamic Management In Building Ethics In Organizations

Abstract

Ethical misconduct and business scandals caused millions of dollars in losses, left behind damaged organizations, forced them to close their business and left thousands employees jobless without any future guarantee or security. This incident has left scholars and managers asking what role they might have played to curb these ethical scandals and what role they can play in the solutions. Scholar and managers collectively have responded to the ethical challenges that we face in organizational life. Some scholarship assesses the current state of ethics in management education, helping us to diagnose and tackle the realities of unethical behavior. Part of the solution to this problem is to design and develop courses and programs in a better way, integrate business and management learning with ethical conduct. Scholars should focus on which standards should be advanced. Indeed, what connects these diverse discussion is a clear recognition that educational components designed to solve the ethical quandaries we face will require a multifaceted and comprehensive approach. Religions and philosophical schools of thought have always played a significant role in the development of human values and behavior which has a great impact to business and corporate management. Research also suggests that the encouragement of religious principles in business can lead to benefits in the areas of creativity, honesty and trust, personal fulfillment, and commitment, which will ultimately lead to increased corporate and business performance. It is where Islamic Management come into place where the foundations, principles, and practices will give impact in developing ethical standard to organizations. Islamic Management will bring students and managers back to basic where they cannot put aside the role of religion in safeguarding management practices in organization.