Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience

Most businesses used short term business practices to gain long term profitability and competitive advantage. In reality, businesses are facing dynamic challenges and uncertainties. The sustainable business practices enable business continuity and resilience. This paper argues fastabiqul khairat d...

Full description

Bibliographic Details
Main Author:	Mhd. Sarif, Suhaimi
Format:	Article
Language:	English
Published:	KLIBEL 2015
Subjects:	HF5387 Business ethics
Online Access:	http://irep.iium.edu.my/44692/ http://irep.iium.edu.my/44692/ http://irep.iium.edu.my/44692/1/FASTABIQUL-KHAIRAT-DRIVEN-CORPORATE-PHILANTHROPY-AS-SUSTAINABLE-BUSINESS-PRACTICES-FOR-ORGANIZATIONAL-RESILIENCE.pdf

id	iium-44692
recordtype	eprints
spelling	iium-446922017-11-22T01:36:30Z http://irep.iium.edu.my/44692/ Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience Mhd. Sarif, Suhaimi HF5387 Business ethics Most businesses used short term business practices to gain long term profitability and competitive advantage. In reality, businesses are facing dynamic challenges and uncertainties. The sustainable business practices enable business continuity and resilience. This paper argues fastabiqul khairat driven corporate philanthropy helps businesses to be more resilient. Fastabiqul khairat is to be competitive and unstoppable in giving charity with the motivation, drive, energy and reinforcement to do good deeds for the sake of stakeholders. Fastabiqul khairat promotes long term practices for long term benefits. The existing shortterm corporate philanthropy justifies the reputation of socially responsible businesses but lack of organizational resilience. Businesses with good reputation and ability to deliver superior value gain better performance and competitive advantage. The study used personal interview with 10 social entrepreneurs to obtain feedback on the practices of fastabiqul khairat in the corporate philanthropy for social enterprises. The results of the study suggest that the practice of fastabiqul khairat is operationalized under the infaq (judicious spending) through the payment of zakat, corporate donation, and sponsorship on various social activities that linked with business activities. Business owners, strategists and decision makers should introduce fastabiqul khairat corporate philanthropy in business processes and strategies. Nevertheless, the results of the study cannot be generalized due to the specific contexts of the respondents which may be different from other contexts. The future study should consider more social entrepreneurs as respondents of the study for more robust and comprehensive results. KLIBEL 2015-08-29 Article PeerReviewed application/pdf en http://irep.iium.edu.my/44692/1/FASTABIQUL-KHAIRAT-DRIVEN-CORPORATE-PHILANTHROPY-AS-SUSTAINABLE-BUSINESS-PRACTICES-FOR-ORGANIZATIONAL-RESILIENCE.pdf Mhd. Sarif, Suhaimi (2015) Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience. International Journal of Business, Economics and Law, 7 (2). pp. 23-32. ISSN 2289-1552 http://ijbel.com/previous-issues/september-2015/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HF5387 Business ethics
spellingShingle	HF5387 Business ethics Mhd. Sarif, Suhaimi Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
description	Most businesses used short term business practices to gain long term profitability and competitive advantage. In reality, businesses are facing dynamic challenges and uncertainties. The sustainable business practices enable business continuity and resilience. This paper argues fastabiqul khairat driven corporate philanthropy helps businesses to be more resilient. Fastabiqul khairat is to be competitive and unstoppable in giving charity with the motivation, drive, energy and reinforcement to do good deeds for the sake of stakeholders. Fastabiqul khairat promotes long term practices for long term benefits. The existing shortterm corporate philanthropy justifies the reputation of socially responsible businesses but lack of organizational resilience. Businesses with good reputation and ability to deliver superior value gain better performance and competitive advantage. The study used personal interview with 10 social entrepreneurs to obtain feedback on the practices of fastabiqul khairat in the corporate philanthropy for social enterprises. The results of the study suggest that the practice of fastabiqul khairat is operationalized under the infaq (judicious spending) through the payment of zakat, corporate donation, and sponsorship on various social activities that linked with business activities. Business owners, strategists and decision makers should introduce fastabiqul khairat corporate philanthropy in business processes and strategies. Nevertheless, the results of the study cannot be generalized due to the specific contexts of the respondents which may be different from other contexts. The future study should consider more social entrepreneurs as respondents of the study for more robust and comprehensive results.
format	Article
author	Mhd. Sarif, Suhaimi
author_facet	Mhd. Sarif, Suhaimi
author_sort	Mhd. Sarif, Suhaimi
title	Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
title_short	Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
title_full	Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
title_fullStr	Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
title_full_unstemmed	Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
title_sort	fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience
publisher	KLIBEL
publishDate	2015
url	http://irep.iium.edu.my/44692/ http://irep.iium.edu.my/44692/ http://irep.iium.edu.my/44692/1/FASTABIQUL-KHAIRAT-DRIVEN-CORPORATE-PHILANTHROPY-AS-SUSTAINABLE-BUSINESS-PRACTICES-FOR-ORGANIZATIONAL-RESILIENCE.pdf
first_indexed	2023-09-18T21:03:32Z
last_indexed	2023-09-18T21:03:32Z
_version_	1777410781865836544

Fastabiqul khairat driven corporate philanthropy as sustainable business practices for organizational resilience

Similar Items