Faith is a submissive relationship with God or superior powers and is necessary for entrepreneurship and well-performing institutions. Faith has four pillars - certainty, patience, justice, and jihad against evil forces. Certainty, patience, justice, and jihad help overcome major human lusts like pleasure, wealth, power, and fame. Islamic faith includes beliefs in God, prophets, judgment day, and obligations like prayer. Faith is explained through prophets and revealed books to guide believers. Entrepreneurship involves personality traits, systematic interactions, liberty and responsibility, communication, managing efforts and returns over time. Faith shapes these entrepreneurial aspects.

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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)

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INSTITUTION
 Institution is tangible manifestation of
interactive socio-economic activities made by
some individuals under the leadership of
entrepreneur.

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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.

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FAITH
 Faith is a submissive and transpersonal
relationship with God or with someone
having superior powers.

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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.

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PILLARS OF FAITH
 Certainty (Yaqueen)
 Patience (Sab’r)
 Justice (Ad’l)
 Just Struggle against Evil Forces (Jihad)

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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)

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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.

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JUSTICE
 It is moderate or balance attitude towards life
and its issues.
 Justice has four pillars – Intelligence,
Intensive Knowledge, Decision Power, and
Sobriety.

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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.

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MAJOR HUMAN LUSTS
 A person, generally, faces four major lustful
tendencies – lust for pleasure, lust for wealth,
lust for power, and lust for fame.

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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.

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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.

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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.

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FAITH AND ENTREPRENEURSHIP-D1
 Entrepreneurship is modus vivendi; it is a
way of living with certain peculiar personality
traits.

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FAITH AND ENTREPRENEURSHIP-D2
 Entrepreneurship is modus operandi; it is
systematic interaction of individuals.

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FAITH AND ENTREPRENEURSHIP-D3
 Entrepreneurship is liberty - responsibility
phenomenon.

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FAITH AND ENTREPRENEURSHIP-D4
 Entrepreneurship is effective communication
/ negotiation.

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FAITH AND ENTREPRENEURSHIP-D5
 Entrepreneurship is effort-return
phenomenon.

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FAITH AND ENTREPRENEURSHIP-D6
 Entrepreneurial struggle is input-output
phenomenon.

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FAITH AND ENTREPRENEURSHIP-D7
 Entrepreneurship is time management.