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  1. 1. 1 By the TIME, Lo, man is in a state of loss, save those who believe and do good works, and exhort one another to truth and exhort one another to patience. (Al-Quran) FAITH ANALYSIS (A Roadmap Towards Excellent Managerial Practices)
  2. 2. 2 INSTITUTION  Institution is tangible manifestation of interactive socio-economic activities made by some individuals under the leadership of entrepreneur.
  3. 3. 3 FAITH-ENTREPRENEURSHIP-INSTITUTION  We propose that a definite psycho-spiritual base or faith of entrepreneur is inevitable factor for entrepreneurship that shapes, ultimately, a well performing institution.
  4. 4. 4 FAITH  Faith is a submissive and transpersonal relationship with God or with someone having superior powers.
  5. 5. 5 CONDITIONS OF FAITH  A living faith must fulfill two conditions – necessary as well as sufficient. The necessary condition is logical reasoning and sufficient condition is practical fruits for believers / mankind.
  6. 6. 6 PILLARS OF FAITH  Certainty (Yaqueen)  Patience (Sab’r)  Justice (Ad’l)  Just Struggle against Evil Forces (Jihad)
  7. 7. 7 CERTAINTY  Certainty is determination of our beliefs or thoughts. It indicates the strength and power of our mindset. It is developed through knowledge, observation and experience  The certainty has four pillars - Inference, Generalization, Admonition, and Following (TAQLEED)
  8. 8. 8 PATIENCE  Patience is an ability to endure waiting without pain, to postpone certain reactions till right time, to control desires without annoy, and to remain compose at the time of crises or struggle. Patience is, thus, self discipline.  Patience has four pillars – God Fearing, Enthusiasm, Devotion, and Optimism.
  9. 9. 9 JUSTICE  It is moderate or balance attitude towards life and its issues.  Justice has four pillars – Intelligence, Intensive Knowledge, Decision Power, and Sobriety.
  10. 10. 10 JIHAD  Jihad is a warring attitude towards evil / unjust forces.  Jihad has four pillars – Positive Commands, Prohibition from Bad, Truth at Difficult Occasions, and Animosity with Culprits.
  11. 11. 11 MAJOR HUMAN LUSTS  A person, generally, faces four major lustful tendencies – lust for pleasure, lust for wealth, lust for power, and lust for fame.
  12. 12. 12 SOLUTION TO MAJOR HUMAN LUSTS  Patience is well-formed fence against lust for pleasure,  Certainty is unbeatable barrier against lust for wealth,  Judicious behavior is strong cordon against lust for power,  Jihad or struggle against evil forces is a subtle curb against lust for fame.
  13. 13. 13 ISLAMIC VIEW TOWARDS FAITH  The Islamic faith presupposes some obligatory beliefs – Unity of God, Unseen System (Angels, Heaven, Hell, etc.), Revealed Books, Institution of Prophets, Day of Judgment, Fate, and Life after Death.  Islam imposes some obligations on believers – Kalimah (a confession of faith), prayer, fasting, alms giving, and pilgrimage.  Islam vehemently put forward two aspects of faith – human and transcendental. The human aspect proposes the concept of unity of mankind, while the transcendental aspect proposes the idea of Unity of God. It is noteworthy that the idea of Unity of God must create the belief of mankind’s unity.  The Islamic approach towards faith is that it is given, explained, and planted through reverent personalities, i.e., prophets; The prophets are sent as practical role modals and revealed books are accompanied as permanent working manual for guideline.
  14. 14. 14 ENTREPRENEURSHIP  Entrepreneurship has multiple aspects and various definitions; however, it is dynamically linked with faith and its varied elements. We take a brief look of numerous approaches / definitions of entrepreneurship and try to understand / unearth the linkages between faith and entrepreneurship.
  15. 15. 15 FAITH AND ENTREPRENEURSHIP-D1  Entrepreneurship is modus vivendi; it is a way of living with certain peculiar personality traits.
  16. 16. 16 FAITH AND ENTREPRENEURSHIP-D2  Entrepreneurship is modus operandi; it is systematic interaction of individuals.
  17. 17. 17 FAITH AND ENTREPRENEURSHIP-D3  Entrepreneurship is liberty - responsibility phenomenon.
  18. 18. 18 FAITH AND ENTREPRENEURSHIP-D4  Entrepreneurship is effective communication / negotiation.
  19. 19. 19 FAITH AND ENTREPRENEURSHIP-D5  Entrepreneurship is effort-return phenomenon.
  20. 20. 20 FAITH AND ENTREPRENEURSHIP-D6  Entrepreneurial struggle is input-output phenomenon.
  21. 21. 21 FAITH AND ENTREPRENEURSHIP-D7  Entrepreneurship is time management.