Is strategic management from an Islamic perspective simply an ideal or is it something that can actually be practiced?
Strategic Management from an Islamic Perspective: Text and Cases
By: Rodrigue Fontaine and Khaliq Ahmad
Paperback, 238 pages
Published: July 2013
The popularity of Islamic finance has led to a growing interest in its application to the business sector. This timely book by Rodrigue Fontaine and Khaliq Ahmad will fill a niche in both the professional and MBA markets.
Strategic Management from an Islamic Perspective: Text and Cases uses conventional theories but interprets these theories from an Islamic perspective. The cases used in the book are international cases which highlight the Islamic perspective.
The book starts with a critical literature review of conventional theory. Having explained the weaknesses of the conventional approach, the authors explain how these problems might be overcome using both conventional theories and Islamic theories. The pros and cons of using both are discussed as is whether these two sets of solutions can be integrated. This text is not meant to be idealistic but to rather focus on practical policies that could make a difference.
The content is divided into two parts. The first part looks at the theory of strategic management from an Islamic perspective, starting with an introduction, a review of the literature, and the identification of four key problems. The authors then explain how Islam provides solutions by exploring the concept of organizational justice, the transformational nature of faith, and the ability to develop an Islamic corporate culture. Lastly, they discuss the role of Islamic law and provide a conclusion with strategic decision making.
Part two includes a number of case studies that allow students to develop their analytical skills and the ability to propose new strategies. They are:
Case 1: IBM and Lou Gerstner
Case 2: Al Rajhi Bank
Case 3: Bank Muamalat
Case 4: Bank Rakyat
Case 5: MUSLEH (Part 1)
Case 6: MUSLEH (Part 2)
Case 7: Fuji Xerox
Case 8: McDonald’s Pakistan
Case 9: Unilever Bangladesh
The book is designed for university students taking strategic management courses. However, the authors have written this book in a way that will also benefit senior academics and practitioners.