Bella signorina

WEEK 3

HANUM: The focus for this week’s class is on entrepreneurship in the eyes of Islam. This is a very interesting topic as there are some differences between a normal business and a business that is based on the pillars of Islam. Islam has taught to deal with everyone and everything in a polite manner and it is the same when you are starting a business. In order to accomplish this, one must obey by the rules that were stated in the Quran that are; warning against hoarding, destruction of over-supplies, business involving riba (interests), workers recruitment practice as well as environmental control and care. Thus from here we can conclude that entrepreneurship in Islam covers many aspects that does not only focuses on the wellbeing of the business itself, but also the needs of everything that is related to it such as the workers and the environment. Entrepreneurship also holds a high status in Islam as the Prophet Muhammad SAW himself was once a successful and honest entrepreneur.

FARAH: In Islam, entreprenuership is a litte bit different.  I learnt that during this week. It was explained me that there are differences between a normal business and a business that is in line with Islamic values. Islam teaches us values such as honesty and in bussiness we must use values such as that while emersing ourselves in such bussinesses.  The prophet Muhammad was well known for his honestly while he was a merchant. He is a good example to all Muslims who wish to be successful entrepreneurs. It is even stated in the Quran how to handle a bussiness. Hoarding, destruction of over supplies, businesses takig part in riba, workers recruitment practice and also enviromental control and care are all mentioned in the Quran. In a nutshell, the Islamic way of bussiness does not only stresses on the profit of the business but also the way the business is carried out.

 AFIQAH: In the eyes of Islam, entrepreneurs hold a High Status as nine out of ten divine providence comes from business and it is seen as “fardhu kifayah”. Our prophet (pbuh) himself has shown a good example in business by his high trustworthiness and his integrity in business. However, there are some rules in Islam that we need to follow. Allah SWT says we must not be stingy and feel that being stingy is good when Allah has given providence to us. Our providence is meant to be shared with poor people around us. If we would make losses due to low prices, do not waste and destroy those things as this will lead us to dissipation. Furthermore, in Islam, riba is strictly prohibited as they will gain benefits twice while poor people will have to pay with a higher price than its actual price. Besides, nature must be preserved and not destroyed by mankind. Last but not least, employers must be fair and responsible to their workers involving catering to their welfare, wages and providing a comfortable workplace.

HASNA:This week, the lecturers still stressed on making the blog and write a reflection on what we had learned during the class. This week, we learn about self-competency analysis. Before embarking on setting up business, an entrepreneur should have attributes like initiative, viewing and grabbing opportunities, steadfast, information seeking, commitment and agreement, systematic planning, solving problem, self confidence  and  iron willed. An entrepreneur should had this attribute so that they can take action without being told to, improve their business performance, overcome obstacle towards achieving objectives and have a desire to create products/services of higher quality.

FATIN: The lecturer introduced himself to the class and he gave us a website about this course as guidance for us throughout the semester. He told us what this course is all about to give us a picture of the course.  He also told us assessment that we have to complete throughout the semester. First task that we have to do is to create a blog where we have to write our reflection of the class every week. After that, he explained to us in brief what is actually business and entrepreneurship and how exactly people run business.

IRDINA:3^rd week’s lecture involved the ethics in conducting a business through the understanding of the concept of divine acceptance in business and entrepreneurial ethics as well as business culture. The lecture exposed us towards Islamic views in entrepreneurship whether in terms of its morals or surrounding as a factor. The Almighty warns us against ‘riba’, falsehood, ads misinterpretations and etc. for all these leads to a dishonest business and will be severely ‘rewarded’. The lecture encouraged us to seek for legal providences or chances when it comes to business and not go against the views of the religion.

LUBNA:In this 3^rd week, the lecturer taught us about the 9 building blocks which are; Key partners, Key resources, Key activities, Customer segment, Customer relationship, Channels, Core structure, Value preposition and Revenue stream (that is where you get your money from). This week’s lecture is about ethics in conducting a business with the understanding of the concept of divine acceptance in business, entrepreneurial ethics and business culture. I learnt about the Islamic view of entrepreneurial ethics. This includes falsehood and ads misrepresentations, correct measurement and hoarding.