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Ass-Ignment MGT162

Ass-Ignment MGT162

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Published by San Rouvin
Management From Islamic Perspective
Management From Islamic Perspective

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Published by: San Rouvin on Oct 02, 2010
Copyright:Attribution Non-commercial

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12/10/2012

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INTRODUCTION
In the world that is full of complexities and obstacles nowadays requires a systematicmanagement. Management is the process of administering and coordinating resourses effectivelyand efficiently in an effort to achieve the goals of the organization. It is vital to face thechallenges and ensure the activities of the organization run smoothly. In order to reach missionand organizational goals, management plays four basic managerial functions which are consistof:
Planning
– setting goals and defining the actions necessary to achieve those goals;
Organizing
– the process of determining the task to be done, who will do them and how thosetasks will be managed and coordinated;
Leading
– motivating and directing the members of theorganization so that they contribute to the achievement of the goals of the organization;
Controlling
– monitoring the performance of the organizations, identifying deviations between planned and actual result and taking corrective action when necessary.In addition, there are two types of management; Conventional and Islamic. Before wedefine what an Islamic management is like, it is better to give a short description of 
Conventional management
. The Conventional definition of management is getting work donethrough people. However, by contrast,
Islamic management
is defined as the ability to utilizeresourses both material and human (
 Khalifah
) optimally in order to achieve either short term or long term goals (
hereafter
). Moreover, it is generated based on holy
 Al-Quran
and
 As-Sunnah
as a source for decision-making. Our focus in this paper is on management from Islamic perspective and we have decided to choose
Tabung Haji Pilgrims Fund Board of Malaysia
(Lembaga Tabung Haji) as an illustractive case.Page | 1
 
ABOUT THE COMPANY
Turn Back Time..
For people back then, especially those from rural areas, used traditional methods of saving money to enable them to perform
 Hajj 
.
They accumulated money in pillows under mattresses and in earthern jars which were buried for safety. They also purchased land or livestock which later could be sold to get the money needed for their trip to the Holy Land.These traditional methods were totally risky in terms of security and depreciation value.The main reason for the recourse to these out-dated ways of saving among them was thedesire to be absolutely sure that the money to be spent on pilgrimage was untained by
 Riba
.However, these kinds of methods of saving are detrimental to the rural and urban economy inMalaysia. Impact, pilgrims face many difficulties and financial hardships upon their return fromthe
 Hajj
. Those who had sold part of their property before performing the
 Hajj
face problems insupporting their families upon their return home. Those who had sold all of their property hopingthat they will die in the Holy Land, face even graver problems upon their return to Malaysia.Looking at these phenomenons,
Royal Professor Ungku Abdul Aziz
who had saw theneeds for muslims to gradually accumulate savings before performing the
 Hajj
, appeared to propose the establishment of savings institution that carries out its activities according to
 Shari’ah
principles. In his paper “
A Plan To Improve The Economic Position Of FuturePilgrims
”, submitted to the government in 1959, he recommended that future pilgrims shouldsave in a bank or financial institution which was untainted by
 Riba
but which yielded profits.This suggestion marked the beginning of the formation of the
Pilgrims Saving Corporation
.Page | 2
 
 Background..
In August, 1962, The Pilgrims Saving Corporation was incorporated and it wassubsequently launched on September 30
th
, 1963. In 1969, the corporation merged with the
Officeof Pilgrims Affair
operation in Penang and thus, was born the
Managing Board and TabungHaji
or simply
Tabung Haji
which was established under 
Act 8
. The objectives of the companyare:
To enable muslims to save gradually to meet the expenses to perform pilgrimage or other useful expenses.
Allows people’s savings to take part more effectively in the field of investment throughthe way of lawful in Islam.
To provide protection, control and welfare of the pilgrims who perform pilgrimage tovarious facilities and services.Based on the goals that Tabung Haji had set; the goal of serving the good, perfect andsatisfaction for Malaysian pilgrims in the course of performing pilgrimage and give maximum profit to the depositors of their savings.This statement is clearly showed that the Pilgrims Fund was established not only to managethe departure of pilgrims to the Holy Land, but its functions are also as an alternative entity tothe muslims of Malaysia to save money while investing accordance with Islamic principles.As a corporate based, Tabung Haji is very particular to the developments and changes thatswept the world in the 90s era. To ensure the sustainability of competitiveness in the era of globalization, a study was made in 1995 to expand its scope and role. Thus, on June 1
st
, 1995 aPage | 3

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