a.

Honesty of Communication: Advertisers try their best to manipulate consumers, through their advertisement methods, into acting the way they want using lying techniques, for example, they might overprice something and convince users through an ad that it is worth its price when in reality it actually isnt. It is actually considered a great advertisement if it lies and it gets people to act the way the marketers want, which is actually really unfair to the consumer as he believes hes doing the right thing not knowing he or she is in reality they are victims and are being robbed. Islam on the other hand bans such actions due to its law about honesty. In Islam it is forbidden to lie and in business it is forbidden to lie to your consumers. If this was to be implied on business firms this would save a lot of consumers of being wrongfully stolen from, and they would really know what kind of service/product they are buying, and companies would try to keep up with the customers expectations and not make people believe something untruthful. For example, the lies known as Weasel Words which tend to make the customers think something when in reality they have a gap in the sentence. The words mostly used are new and improved making the customer thinks it is better than the old product, when truly it is the exact same thing but only has a new and useless design, giving them unfair products and at the same time mistreating them. An Islamic law-abiding firm would not allow such things from happening as Islam bans such untruthfulness. b. Ethical goods and services: Islam itself demands that every action they do be ethical, every product or service itself must not go against gods adherence and customers to attain the utmost of ethical treatment. An ethical product is a product that is not over priced and does not hurt the consumer or any living thing in anyway, for example KFCs scandal about how they feed chickens hormones so they can grow fast would first of all hurt and treat those animals unfairly and allows humans to eat something very unhealthy not knowing that fact when they consume it. Also, ethical products shouldnt be sold in a way that makes the company receive the maximum profit or maximize shareholder value, instead and Islamic company wouldnt allow that and make them concentrate on making a great product or would allow that but not let it be the focus of the whole firm, at the same time allow it to be under the laws of having a perfectly ethical product, making sure customers are being treated in a completely fair and ethical way. Of course, everything has its advantages and disadvantages. In this case there a couple of disadvantages. It would allow the company to not gain as much competitive advantage as it actually can if there werent the Islamic laws implied on this firm. In addition, it wouldnt allow the firm to gain the financial advantage it actually can if it was unethical in Islams point of view. That is probably why companies now a days act in a very unethical manner whether in an Islamic view point or a non-Islamic view point. In contrast, it provides the firm with a great advantage of having an excessive reputation, giving it some kind of competitive advantage over

Islamicly unethical corporation. A customer would most probably trust a religiousl y ethical company than any other firm due to the honesty and the fairness they attain from any of their products. c. Equality and modesty of payment: ... of their wealth take alms so that you might purify and sanctify. In simpler terms, wealth should be distributed for the greater good; wealth shouldnt be given out in way to have most for the few and the rest for the most. A lot of companies amass the wealth and keep to the few. This is part of the maximizing shareholder value technique. Instead, wealth should be redistributed fairly and to those more needy. Why should the owner be lucky enough to get millions of dollars and janitors barely enough to even live and rent a home? A law helping out would be the minimum wage law; Islam would support this law strongly. Islam strongly concentrates on fairness in life. A lot of other business models or secular models dont support this; some may argue that this is some type of socialism. One can argue, why is it fair that someone was born with enough money to get a higher education and pursue his dreams while another is born with barely enough to learn English? Islam would greatly support socialism as it focuses on fairness too. But this is for the greater good most would benefit as the few are a maximum amount of twenty percent of the total number of employees, the rest of the eighty percent are benefited. The twenty percent who lose money lose money for the greater good and in Islams point of view they shouldnt have been receiving that much money from the beginning to lose money in the first place. This allows the most to benefit. Another benefit of this is that in Islam people should be paid according to their performance, which is seen fair by a great amount of people. Since in Islam all humans must be considered equal, it is unfair to manipulate people into buying something they believe wrongly of, and Islam thus supports employee empowerment and transforming the pay into a more fair and equal between all stakeholders in the firm. Also when it is said that Islam supports equal treatment between every one, it also is implied on sexism, as up till this day, statistics show that a man is paid more than the woman when they are in the same position and the same level of performance. Islamic corporations would ban such dishonesty and unfair play. d. (e) Environmental health Another benefiting aspect of Islam is that the firm should be environmentally friendly. It promotes companies to be caring for the environment. It supports that every corporation has a duty to respect the environment we live in, an example would be limiting the amount of CO produced or make them use more environmentally friendly material. The Quran states that god does not love the wasters and thus it would strongly support recycling material and not wasting it when it can be used or made into other things that would benefit the society one

way or another. The amount of CO being released into the atmosphere and destroying the ozone layer which protects us from dangerous sunlight that lead to humans attaining a skin disease called skin cancer, it also it causes pollution in the air which causes humans to breath in type of air particles that harm their lungs and damages their health.