Operations Management from Islamic Perspective - 5059 Words

INTRODUCTION Management characterizes the process of leading and directing all or part of an organization, often a business, through the deployment and manipulation of resources (human, financial, material, intellectual or intangible). From western perspective, they usually emphasize on seeking tremendous profits regardless how they get it. They will do what ever it takes in order to achieve their targets. The main thing for them is profit maximization. Whereas, the Islamic approach to management it is an emerging discipline, often referred to as Islamic management, looks at the management of organizations from the perspective of the knowledge from the revealed sources and other Islamic sources of knowledge and results in†¦show more content†¦When the customers want to fill the oil for their vehicle, they will approach and negotiate that customer to buy their hand phone with a lower price compare with the market price. There is uncertainty occurs when we do not know exactly where and how they got the hand phone, whether it is from permissible supplier or somebody else’s property that has been stolen. Next, the permissible of resources also including the quality of the raw materials that had been used for the products itself. For example, before produce the products, the responsible organization such as JAKIM or SIRIM will check all the production process especially regarding the quality of the resources been used, and then come out with the decision whether the company pass to produce the products and qualified to be given the certificate or not based on the investigation result. If they failed, but still continue the production without JAKIM and SIRIM approval, the outcome of the products maybe will harm the users in the future. Furthermore, Islam does not allow a producer to engage in production think about profit but production should aim at providing advantageous and valuable items for the people, without causing any damage to the society or nature. What is more, as a Muslim, we want to get the Barakah from Allah in this world and hereafter. Despite, we also want to achieve falah in our life. So, in this context, if the manufacturer sell the products thatShow MoreRelatedChallenges Of Islamic Finance Industry1207 Words   |  5 PagesCHALLENGES TO ISLAMIC FINANCE INDUSTRY Many authors agree that Islamic finance industry has a long way to become globally successful industry. To achieve its potential for solid growth, Islamic finance must improve number of areas including: improving regulatory supervision in the industry, adaptation of tax treatment to Islamic banking products, establishing liquidity control, introducing risk management tools, supporting standardization of financial products and others. 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