Chapter 1 - Introduction To Islamic Business Management - Nota Student
Chapter 1 - Introduction To Islamic Business Management - Nota Student
Chapter 1 - Introduction To Islamic Business Management - Nota Student
INTRODUCTION TO
BUSINESS
MANAGEMENT
Content:
1.1 Introduction and definitions
1.2 Entrepreneurs and business
1.3 The aspects of management in business
• F.W. Taylor: “Art of knowing what you want to do and then seeing
that it is done the best and cheepest way”.
• This means that a business man main focus is not on innovation, but
more on making sure a company is making profit. Entrepreneurship
on the contrary focus on generating value, and this value could be
social, emotional, aesthetic and/or financial.
BASIS FOR
BUSINESSMAN ENTREPRENEUR
COMPARISON
BASIS FOR
BUSINESSMAN ENTREPRENEUR
COMPARISON
The Degree of Businessmen take calculated and Entrepreneurs are like sky
Risks Taken managed risks. They cannot divers. They take crazy risks.
afford to lose money and suffer They often don’t care of losing
from bankruptcy. That is why time and money just to pursue
they always do the Math when it their passion. But since they do
comes to business. it with love, joy and passion,
they often gain extraordinary
rewards.
How He Sees The A business owner tries hard to An entrepreneur tries hard to
Competition beat his competitors and win the beat his worst competitor –
competition. He also considers himself.
cooperation rather than
competition to achieve certain
goals.
What He Thinks of Losing money is one of the biggest Entrepreneurs do not worry a lot
Money worries of businessmen. Most about money since they can
business owners rely on a good always start from a scratch. Some
economy to start, operate and entrepreneurs don’t really care
attain success in business, about money at all.
especially in the retail, franchising
and financing industry.
How He Sees The A businessman sees the world as An entrepreneur sees the world
World an opportunity. He sees it as an as a duty rather than an
opportunity to make a living. He opportunity.
also sees it as an opportunity help
the people living on it.
BASIS FOR
BUSINESSMAN ENTREPRENEUR
COMPARISON
Planning
Setting objectives Organizing
(Vision, mission and
objectives) Setting organization Leading
structure
Form strategic
planning Staffing the Being leader Controling
organization Motivating employees
Controlling and
Communicating skills building commitment
Managing group and Implementation
teams progress reports
Managing Analyze
organizational and situation/create
cultural change planning premises
Determine alternative
courses of action