Author

Rida Tasleem

Student Number

13686

Degree

Master of Science in Islamic Banking & Finance

Department

Department of Finance

Faculty/ School

Faculty of Business Administration (FBA)

Date of Award

Spring 2021

Advisor

Dr. Imran Khan, Assistant Professor, Department of Computer Science, Institute of Business Administration Karachi

Project Type

MS IBF Research Project

Access Type

Restricted Access

Pages

ix, 39

Abstract

It has been noticed that certain business activities, styles, characteristics of leadership, and family values have been examined more frequently in the literature related to family businesses, but no prominent research work has been previously found that primarily focuses on the implementation of religious and spiritual values in the family business environment. Despite religion having the most important and significant role in societies, it is largely neglected in organizational studies. For this reason, in this paper, we focused on organizations more specifically family firms from Pakistan to find out whether their owners implement their faith-based values on the business practices or they do not feel it necessary to implement religious values in family businesses. 20 family businesses have been surveyed as case study to get insight into the business practices of family business owners who use their religious and spiritual values in their businesses.

This research also helped to find the most frequently used religious and spiritual values used by these business owners. This paper investigated the entire concept of the family business and some of the business practices that may lead towards failure. It further discussed the categories and characteristics of different styles of family businesses and the factors that influenced the management style. As this research showed the influence of religious practices in business, therefore, the comprehensive principles of Islam have also been discussed that provide the operational framework for every aspect of doing business in the Muslim world. Different case studies have also been used to explain the entire concept of Islamic business management.

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