Strategic Management from an Islamic Perspective: Text and Cases

Foreword

The world is crisis prone. A crisis of one kind or another continues to confront countries, regions, and the whole world. Often, a crisis emanating in one corner of the globe can become pervasive, whether it is induced by environmental disorders or sociopolitical upheavals.

Businesses operate within the ecosystem of environment, society, and governments and the bilateral or multilateral trade and investment relationships between countries and regions. From this perspective, the ability to perceive changes and, more important, to align a business with impending changes and to face challenges is imperative. Business leaders, who have steered their firms and organizations to success, have consistently shown their acumen and prowess in making strategic decisions that are important for the future of an organization.

The future is not a set of constant variables. It is fraught with ever-changing parameters. It is dynamic and prone to risks that can be extraneous. This is one reason that strategic management is focused on in business studies and management practices. The conventional approach to discussing strategic issues from a purely traditional business–based perspective is fast changing. Stakeholder issues hitherto considered as external to business, such as environment, social justice, governance, transparency, and ethical concerns, are now an integral part of critical thinking and affect a firm’s strategic business as well as its survival in the long run.

The authors have ...