ENTREPRENEURSHIP

Detailed explanation-1: -Islamic scholars have proposed some well-known Islamic principles to consider for ethical decision making, namely the principle of “the Public Interest” (Maslaha), the principle of “Do no Harm” (La Darar wa la Derar), the principle of “Necessity” (Darura) and the principle of “No Hardship” (La Haradj).

Detailed explanation-2: -He (peace be upon him) said: ‘If any one of you is concerned about a decision he has to make, then let him pray two rakahs of non-obligatory prayer, then say: (Translation) O Allah, I ask for Your decision by Your knowledge and Your decree by Your ability, and I ask of You from Your great favor.

Detailed explanation-3: -The legal framework of participation in Islam can be derived from the following Quranic verses, “Those who answer to the command of their Lord and establish regular prayer and conduct their affairs by mutual consultations; who spend out what we bestow on them for sustenance” (Surah Al-Shura 42: 38)5.

Detailed explanation-4: -We have found that the Prophet () used to choose a straightforward way while deciding. For example, he made a soft decision about the prisoners of the battle of Badr.It is widely believed that the Prophet () was making decisions with consultation. He used to honour the opinion of his colleagues.