NOVEMBER-DECEMBER . 2023 | @ Halal
Industry Talk
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The growth of the Muslim population worldwide has somehow paved the way for more Muslim entrepreneurs to get involved in entrepreneurship activities in responding to the current market and abiding by religious teachings .”
Figure 4 : Basic principles of halal business management and halal entrepreneurship
ucts , promotion according to Islamic values , and ensuring compliance with halal requirements in the entire supply chain .
Halal business practices prescribed in the Quran indicate that the strategic halal service drives a firm ’ s sustainability in maximising profits and products / services , ensuring the well-being of humanity and the planet , observing religious requirements , and minimising cost or hardship .
HALAL ENTREPRENEUR
Halalpreneurship is entrepreneurship within Shari ’ ah ’ s scope ( Aqidah , Fiqh , Akhlaq ), so its activities are not aligned with obligations in Islam . It also aligns with Maqasid al Shariah which was proposed by Muhammad al-Tahir ibn Ashur in 1946 . This model includes Dharuriyyat , Hajiyyat , and Tahsiniyyat to comply with Islamic Law .
Halalpreneurship includes the role of the human being as a Khalifah ( Caliph ) in the world to develop and prosper the world , which means the activities of entrepreneurship should contribute to the good and prosperity of society , Ummah and humanity . Key elements are :
• Maintain faith - must understand the importance of maintaining the habits and practices .
• Understand the responsibility as a Muslim user – primary halal education .
• Implications and blessings of halal food – “ You are what you eat ”. Muslims conducting entrepreneurial business in the global halal industry to produce only halal products and services and maintain their business conduct in a Sharia-compliant way is called halalpreneur / halal entrepreneurship . Islamic entrepreneurship comprises two crucial elements : Islam and entrepreneurship ( Gümüsay 2015 ).
The integration of Islamic values frames the entrepreneurs in the halal industry through certain features that justify using the terms ‘ halalpreneurs ’ and ‘ halalpreneurship ’. Apart from merely fulfilling commercial motives , entrepreneurship in Islam is more important to be pursued as a moral obligation to carry out good deeds that adhere to the fundamental teachings of Islam ( Ashraf 2019 ).
Islamic entrepreneurship is connected with belief and obedience to Allah and simply playing a role as Khalifah ( Caliph ) in Islam , contributing to the sound and prosperity of society , the world , and humanity ( Alserhan 2017 ).
Entrepreneurship has been an endeavour carried out by industry players who have good intentions in achieving concrete socioeconomic development , leading to prosperity for the general community .
In Islam , entrepreneurship is meant not only to fulfil material individual needs , society , and the country but also as a way of worship .
The growth of the Muslim population worldwide has somehow paved the way for more Muslim entrepreneurs to get involved in entrepreneurship activities in responding
Figure 5 to the current market and abiding by religious teachings .
Halalpreneurship differs from entrepreneurship in certain aspects , which comprise mainly the implication of ethical and religious ( Islamic ) values and guidelines in all kinds of activities in an economy related to entrepreneurship .
SUMMARY
Halalpreneurship refers to halal entrepreneurship , which revolves around the Islamic economy and individuals , whereas entrepreneurship is a concept used in the conventional economy . Both Halalpreneurs and entrepreneurs are business individuals who offer innovative products and services to the consumers , take risks and look for opportunities through the creative use of assets in manners that make a significant impact on the market .
However , halal awareness enhances the community public towards education . The programme can set entrepreneurs up to comply with the standard requirements . The industry also cooperates in complying with all the halal certification requirements set to use the halal logo as a marketing tool for its halal products in gaining consumer choice for profitable economic returns . –
Sources : Moha , A . A ., et . al ., ( 2020 ). Salient features : Halalpreneurship vs . entrepreneurship . DOI : 10.5772 / intechopen . 93657 .