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Business Strategies for OIC* Markets
  
 
Jun 2010: Rabi Al-Thani/ Rajab 1431: Issue 32
 

 

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About This Section:

Sustained business success in todays global marketplace requires high standards in leadership, corporate governance, strategic planning, human resource management and many such management related fields.

This section's focus is to provide actionable insights on above mentioned critical topics with perspectives unique to the Muslim world. Some of these key sets of issues include:

  • Rampant corruption in Public and Private sectors- Transparency International, a global agency tracking corruption gives a low grade to most Muslim countries.
  • Corporate governance and transparency - Businesses in the Muslim world are notorious for inadequate corporate governance and transparency practices. This is chocking much needed public and foreign investment which fuels global competition.
  • Limited Set of Visionary leaders - Lack of break-through leadership practices and role models.
  • Lack of global quality standards and processes - Global quality standards drive business growth and credibility. This is an emerging area that needs much nurturing and direction

At the same time, the Muslim world is filled with unique opportunities and distinctive economic strengths. The following are some key management opportunities we hope to highlight:

  • Proliferating a corporate strategy based on Islam's balanced emphasis on social responsibility and profitability motives
  • Applying Islamic principles of leadership and ethics in business management
  • Maximizing particular regional human resource strengths

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