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Islamic Entrepreneurship: The Concept, Definition and Practical Implications
Islamic Entrepreneurship [PhD Project]
- The Concept, Definition and Practical Implications.
Dr Muhammad Azam Roomi and Dr Stephanie Hussels
Application Details: The PhD candidate should hold a minimum 2.1 class undergraduate degree
in business and management, sociology, psychology, social psychology, anthropology or related
discipline and have passed, or expect to have passed by autumn, a Master’s degree or equivalent
research experience in a work setting.
See http://bit.ly/154nhb7 for English language requirements.
Funding Details: Funding may be available on a competitive basis through the Cranfield School
of Management studentship scheme: http://bit.ly/1BgS94p
Deadline: Expressions of interest alongside a CV are invited via email
firstname.lastname@example.org and email@example.com
by mid-April for bursary applications.
References: See http://bit.ly/1DyMEOi
Over the past few years, scholars have started looking into the impact of religion on different
aspects of modern business practices such as:
•Work and ethics (Gundolf and Filser, 2013)
•Marketing best practices (Temporal, 2011; Rinallo et al., 2013)
•Entrepreneurial performance (Neubert, 2013).
In his recent work around Islam and Entrepreneurship at the University of Oxford, Guemuesay
(2014) coined the term ‘Entrepreneurship from an Islamic Perspective (EIP)’. The concept is “based
on three interconnected pillars: entrepreneurial, socio-economic/ethical and religio-spiritual”
(Guemuesay, 2014: 1). The research highlights the work of other authors (Adas, 2006; Basu and
Altinay, 2002; Kayed and Hassan, 2010; Roomi and Harrison, 2010; Roomi, 2013) looking at how
Islam shapes entrepreneurship at different levels of the economy whilst encouraging and enabling
The authors in the field have investigated the Islamic ethical approach of doing business from two
perspectives: first, the institutional approach – emphasising upon the need for Islamic financial and
banking institutions; and second, the individual approach – for entrepreneurs to “adhere to Islamic,
ethical values while conducting everyday business activities” (Kayed and Hassan, 2010: 403).
However, no study has been conducted so far, to map out different aspects of entrepreneurship
(characteristics, skills and practices) with Islamic teachings (Quran and Sunnah) or to determine the
relationship between entrepreneurial success and practising of Islamic principles. This project aims
to fill this gap.
We are currently seeking
a strong PhD candidate to
engage in a study to determine
the relationship between
entrepreneurial success and
practising of Islamic principles.