NAME : ZAIN JAWAID ID : 10238

CASE STUDY : Turkey, Its Religion, and Politics

Q1 What are the implications of Islamic Values towards Business - in this case Turkey?
Ans: The EU being a major western entity has a lot of influence over many countries in the
Union and the world because of their power. They are a major force for change in the world. In
this case study the one of the major implication for Islamic values toward business for the
participation of a country such as Turkey in the global economy or becoming a member of the
European Union is the inevitable changes in religious influenced culture. If Turkey for instance
expects to prosper in the western world, certain Islamic values will be first to go out the
window. The other implication of a Islamic values would be that local business leaders attribute
the success of companies in the region to an entrepreneurial spirit that they say is part of Islam.
And They point out that the Prophet Muhammad, who was himself a trader. preached
merchant honor and commanded that 90 percent of a Muslim's life be devoted to work in order
to put food on the table. Now According to the Arslan (managing director of largest furniture
company), from over the past three decades, local Muslims who once eschewed making money
in favor of focusing on religion are now making business a priority. The Istanbul is a region
where traditional Islamic values hold sway, and yet it is a region that has produced so many
thriving Muslim enterprises that are called the "Anatolian Tiger". Businesses based here include
large food manufacturers, textile companies, furniture manufacturers, and engineering
enterprises are focusing on the Islamic values.
Q2 What is a Muslim businessman's responsibility to internal and external stakeholders?
ANS: There are a lot of responsibilities of a Muslim businessman for example the intensity to
earn halaal for them and for their family also. They have to perform the trade through mutual
consent for the betterment of seller and the buyer both. A businessman initial responsibility is
to produce employment to workers. Keeping folks utilized and lease them have time to get
pleasure from the fruits of their labor is that the finest factor business will do for society. on the
far side this basic responsibility, employers should offer a clean, safe operating setting that's
free from all types of discrimination. Muslim businessman should need to avoid the dealing in
stolen goods as it is not good in the eyes of Prophet(PUBH). Islam. we face ethical issues at
work place, and hardly know how to deal with them to find a workable solution. The survey
conducted in the developed countries over the last few years reveal the employees facing the
problems like stealing, lying, fraud and deceit, etc. International surveys reveal rampant
unethical behaviors in businesses.so basically these are some basic responsibilities of a Muslim
businessman.