Islamic Entrepreneurship - GBV

Islamic Entrepreneurship

Rasem N. Kayed and M. Kabir Hassan

Routledge

Taylor & Francis Croup
LONDON AND NEW YORK

Contents

List of illustrations x
Acknowledgements xiii
Foreword xiv
List of abbreviations xvi

1 The focus and the context of the research 1
Background issues 2
Background to the research problem: the Saudi context 5
Modernisation, Westernisation and the question of
development 8
Cultural universality and diversity in cultures 12
Responses to modernisation and Westernisation 14
Incompatibility of values and alternative entrepreneurships 16
Research question and research objectives 18
Theoreticalframework 19
Methodological approach 21
Structure of the book 21

2 Entrepreneurship and development 24
Definitions and theories of entrepreneurship 25
Entrepreneurship development: perspectives and
approaches 39
The emergence of the model 54
Conclusion 59

3 Entrepreneurship and development: an Islamic perspective 61
Islam and development 63
Entrepreneurship: an Islamic perspective 73
Islamic entrepreneurship 90
Conclusion 93

viii Contents 95

4 Saudi economic development: entrepreneurship as a viable
diversification strategy
Saudi Arabia: the development of modern state and
contemporary challenges 96
Towards a multidimensional development strategy and
the needfor diversification 106
Contemporary Saudi Arabia and the questfor sustainable
development 122
Conclusion 132

5 Research methodology and fieldwork experiences 135
Research methods and design 136
Primary qualitative data 143
Piloting the study 148
Conclusion 164

6 The attitudes of Saudi entrepreneurs 166
The religious devotion of Saudi entrepreneurs 167
Modernisation ... Westernisation and the Saudi
entrepreneur 167
Do Muslim entrepreneurs have to adopt Western values
and Western practices to succeed in business? 169
The Saudi entrepreneur and the Saudi culture 171
The Saudi entrepreneur's perception of entrepreneurship 173
Islamic entrepreneurship education and the Saudi
entrepreneur 181
Alternative financing: profit-and-loss sharing (PLS) 181
Conclusion 191

7 The views and approaches of Saudi entrepreneurs: case studies 192
Al-Jasim Engineering 193
Alyami Contracting 199
Shabanah Trading 206
The Software House 215
Al-Fadel Marketing Solutions 223
Dr. Khamis 227
Conclusion 232

Contents ix

8 The realities and the landscape of Saudi entrepreneurship 234
Saudi entrepreneurship 235
The role of the education system 244
Externalfactors 253
The Saudi entrepreneurship sector 264
Conclusion 272

9 Synthesis of findings 274

Islam: is it a problem or is it the solution? 274

Revisiting the model 280

Conclusion 288

10 Summary and conclusion 289
Research key findings 290
Policy implications 304
Future research directions 307
Extending the language and the practice of development 311

Glossary 314
Notes 317
References 324
Index 350