4 Ethical Principles in Islam That Can Benefit Businesses

The aim of most businesses is to make profit. Very often in the pursuit of profit moral boundaries can be crossed with consequences for society at large but most importantly, the soul of the transgressor him/herself. A verse in the bible the book of Prophet Essa asks “What good is it to someone to gain the world and loose your soul?”

Ethics are also very important in a business environment and is a must in (a way forward) all business dealings.

Ethics

Islam provides guidance for a complete way of life. Islam talks about the family and social obligations of Muslims in life but it also has guidance in the spheres of economics and business.

Listed below, are various ethical principles that can help lead a way to a successful business.

#1. Morals

Every action a person engaged in business takes should be guided by morals. In the Quran, it states that “do good and forbid evil’ (Sura 3:104). This statement is directly linked to morals needed to do business as it tells us to stick to good and always work towards that. However, this should be in line with the culture and purpose of the business.

Adapt to the conditions to maximize good.

#2. Faith

What is faith?  it is believe and know that Allah is in control. Everything in life will be there for a given (small) amount of time, nothing stays forever. The Quran states that “To those who believe and do acts of righteousness will surely go to paradise” (sura 2:23)

Sometimes businesses suffer hiccups, but faith and hard work will always get you where you need to be.

#3. Intention and Deeds

The heart is the central organ of any human. A decision made from the heart serves as a motivator to help smooth the process in hand. Every intention should be able to be guided by Islam and good-doing as that is the way forward in life.

Sometimes intentions are made but for some reasons beyond our control it falls out of place. If one is faced with this situation always remember point number 2, which is to always have faith.

#4. Character

This is the in-built personal qualities a person poses. It goes along with being a business minded person. It contains virtues such as wisdom, modesty, etc.

It is also important to put away lust, greed and anger in business as it might lead to unfortunate circumstances.

Conclusion

Every ethical step, connects one to the other. They serve as an inter-link to the good life. As the Greek philosopher Socrates put it, “it is not wealth that produces goodness, it is goodness that produces wealth”.

Follow these ethical steps and the golden rule, which is to do onto others as you would wish done to you and your business goals will be met.

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