The Notion of "Moral Firm" and Distributive Justice in an Islamic Framework
This paper discusses conventional and Islamic concepts of distributivejustice, and develops propositions for the establishment of firms deemed to bemoral firms from Islamic perspective. Generally, distributive justice impliesthat goods should be distributed among members of the community accordingto...
| Authors: | ; |
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| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
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| Published: |
2018
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| In: |
Intellectual discourse
Year: 2018, Volume: 26, Pages: 357-382 |
| Online Access: |
Volltext (lizenzpflichtig) |
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| 520 | |a This paper discusses conventional and Islamic concepts of distributivejustice, and develops propositions for the establishment of firms deemed to bemoral firms from Islamic perspective. Generally, distributive justice impliesthat goods should be distributed among members of the community accordingto their standing in society. In the Islamic scenario, however, the positive andthe normative aspects work simultaneously. The management of a firm seeksnot only to earn profit in this world but also to get reward in the life-hereafter.Thus, it is duty of a firm to serve the community and look after its shareholders,employees and consumers. This paper also postulates that in a cooperativecum-competitive environment, firms have the same responsibilities as othermembers of the society. Hence, it is the duty of the firm to maintain distributivejustice among its stakeholders. It is also suggested that in the framework of theShariʽah, if there are any imperfections in the market, it is the responsibilityof the state to remove them. This paper also discusses the social and moralresponsibilities of the firms which claim that their products are Shariʽahcompliant. | ||
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