MANAGEMENT PRINCIPLES IN HOLY QURAN

“Islam” the religion of peace, which has over 1.6 billion followers or about 23% of the world population, is not only a religion but also a complete way of life, The Holy Quran; the most comprehensive divine book of the world has the solution to every problem.  Let it be personal or issues related with economics, business or politics. It’s a vast source of knowledge. It tells us about history, Geography, Astronomy, Biology, and Management etc. The Holy Quran, has the most comprehensive collection of guiding principles, teaches us, guides us and shows us light in every walk of life.

            Islam has already given the principles of management 1400 years ago. It shows that the best book about management is Quran. Management that is considered to be one of the most important subjects of modern times is also derived from the knowledge that Quran has given us. Many of its principles and theories that are made in 16th or 17th century are derived from the knowledge that The Holy Quran has given us 14 centuries ago. There are 300 verses in the holy Quran on management; these verses should be studied for explaining the managerial view of the holy Quran.

Islamic Concept of Management:

·       The basis for Islamic Management is the Al-Quran and the Al-Sunnah.

·       Islamic Management is the right way of managing people and organization.

·       Practicing the principles of Islamic Management enables leaders and managers to achieve unity among the followers/members of the organization quickly and this will enhances quality performance.

Principles of Islamic Management:

1. Honesty
2. Efficiency
3. Patriotism
4. Right man in the right place
5. Discipline
6. Division of labor
7. Unity of command and unity of direction
8. Centralization and decentralization
9. Preference to the organizational interest
10. Remuneration
11. Economy
12. Justice for all
13. United efforts
14. Dignity of labor
15. Exemption
16. Accountability
17. Tawakkul -The act of relying upon something or someone - to place faith or confidence in Allah (usually).

Characteristics of Islamic Management

1. Basic foundation of Islamic Management is the Quran and Sunnah.
2. Original model of IM is Prophet Muhammad (SAW) and his companions.
3.  Only economic development is not the final target of IM.
4. Activities aimed at welfare in the life hereafter.
5. Employees should maintain cordial relationship and team spirit.
6. Accountability is twofold: i) to immediate boss and ii) Almighty Allah
7. Manager considers himself as a vicegerent of Allah.
8. Property is thought to be trusted by Allah to the users and the managers.
9. Decisions are made through consultation ( Mashwara).
10. The manager does not have any greed to misuse the power of the post.
11. There must be prevailing peace, development and other benefits.
12. IM is applicable to personal, familial and social, economic and political organizations.
13. Here hypocrisy, forgery, activities adverse to religion and morality are not tolerated.
14. Management is thought to be a universal concept.
15. There is freedom of thinking and expression.
16. Competition is a common strategy in good deeds.