Social entrepreneurship and sustainable competitive advantage: an Islamic perspective
This study evaluates from an Islamic perspective the role of social entrepreneurship in offering sustainable competitive advantage to firms. Social entrepreneurship is an integrated concept of commercial entrepreneurship that addresses the triple bottom line (3BL), namely profit, people and plane...
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| Main Author: | |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2010
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/22679/1/235-236.pdf http://irep.iium.edu.my/22679/ |
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| Summary: | This study evaluates from an Islamic perspective the role of social entrepreneurship in offering
sustainable competitive advantage to firms. Social entrepreneurship is an integrated concept of
commercial entrepreneurship that addresses the triple bottom line (3BL), namely profit, people and
planet. Thus, it provides better position for firms to outcompete the rivals on long term basis. Meeting the
needs of the stakeholders’ needs (including the natural environment) is vital to ensure sustainability. This
concept is in line with Islamic perspective that emphasized on Tawhidic (oneness of Allah) paradigm, the
fiduciary role as servant and vicegerent of Allah, and the relationship with other creatures. The Islamic
perspective also views to sustain competitive advantage through social entrepreneurship is the integration
of the belief system of Islam, organizational realities, and the nature of man. Man plays a critical role in
integrating Islam into organizational realities. Hence, the most apparent element that needs to be
Islamized is man who is managing, coordinating, and making the objectives a successful reality. The
Qur’an has outlined ways and means of managing competitiveness that established justice, fairness and
harmony. |
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