While strategic management is a cornerstone of any MBA program, it's almost always taught from conventional theories and typically American case studies. This book takes those traditional theories and interprets them from an Islamic perspective using more international case studies. Though primarily intended as a textbook for business students, the book is also extremely useful for any Muslim business leaders who want to transform their businesses while complying with Shariah, with a particular focus on developing corporate cultures and structures in sync with Islamic values.

• Offers a critical review of conventional strategic management theory, suggesting more effective alternatives based on a combination of conventional and Islamic theories
• Includes international case studies, each with a particularly Islamic angle
• Written by a successful author team that has written extensively on the subject of business management from an Islamic perspective

Rodrigue Fontaine, PhD, is an assistant professor in management at the International Islamic University Malaysia. Prior to joining the IIUM faculty, he worked at Intel Corporation (UK) and Raychem Corporation (UK). Dr. Fontaine was a member of the faculty of Multimedia University (MMU) from 1999 to 2008, after which he joined the Management and Science University (MSU) in Selangor, Malaysia.

Khaliq Ahmad, PhD, is Dean, Kulliyyah (Faculty) of Economics and Management Sciences, at the International Islamic University Malaysia. Over the past 23 years, he has held various academic positions, including Deputy Dean (Research & Academic training) and Director of the Graduate School of Management. Currently, Dr. Ahmad is a member of the General Council of MIM and Vice Chairman after working as Hon. Secretary of the Chartered Institute of Marketing, Malaysia (CIMM) for five years.

Part One: “Strategic Management from an Islamic Perspective”

Chapter 1: Introduction

Leading an Organization Is Like Driving a Car

Critical Thinking

The Problem with Conventional Management

The Problem with Conventional Strategic Management

The Value of Strategic Management from an Islamic Perspective

References

Notes

Chapter 2: Conventional strategic management

Introduction

The Importance of Competitive Advantage

Competitive Advantage: a means or an end?

The Importance of Stakeholders

The Strategic Management Process

Strategic Management in Developing Countries

Why Do Most Strategies Fail?

First Observation: Causal Ambiguity

Second Observation: Strategic Thinking

Third observation: balancing profitability and risk

Summary

References

Notes

Chapter 3: Four fundamental problems (FPs)

Introduction

FP 1: The use of interest-based loans

FP 2: Developing sustainable organizations

FP 3: Overcoming defensive routines

FP 4: Overcoming conflicts of interests

Discussion

Summary

References

Notes

Chapter 4: Organizational Justice

Introduction

Organizational Justice

Hammer and Champy

William E. Deming

The Ideas of Eli Goldratt

Discussion

Summary

References

Notes

Chapter 5: Islam Transforms People and Leaders

Introduction

The Individual as the Unit of Analysis

Belief in Islam Appeals to The Intellect

Islam within the Context of an Organization

Islam in the context of multicultural societies

Lessons from surah al takathur

Lessons from surah al asr

The importance of the prayer

The PIES model of human behaviour

The driving analogy

Summary

References

Notes

Chapter 6: The Challenge of Culture

Introduction

The Link Between Culture and Strategy

Lessons from Research at IIUM (International Islamic University Malaysia)

The Role of Top Management

Summary

References

Note

Chapter 7: The Role of Islamic Law

Introduction

Why Do We Need Islamic Law?

Principles of Islamic Law

The Importance of Intention and Knowledge

Islamic Law for Top Management

Islamic Law for Middle Management

Islamic Law for Subordinates

Shari’ah and Fiqh

The Need for Further Research

Summary

References

Notes

Chapter 8: Strategic Decision Making

Introduction

There is More to Strategy Than Strategy

Strategy as Problem Solving

Errors in Strategic Decision Making

Defining the Strategic Problem

Understanding the Strategic Problem

Experimenting

Strategic Decision Making

Evaluating the Strategic Process

Summary

References

Notes

Chapter 9: Analysing a Case

The Purpose of Analysing a Case

Chosing the story

Part Two: Case Studies

Cases in this textbook

Chapter 10: Case 1 - IBM and Lou Gerstner

Introduction

The Beginning

The Writing on the Wall

Finding a New CEO

The First Days at IBM

The Corporate Culture Problem

Do We Need a Strategic Vvision?

Getting the Execution Right

The Essence of Leadership

Reviving The Brand

Compensation

Making the Company Grow Again

Notes

Chapter 11: Case 2 - Al Rajhi Bank¹

The Job Offer

Al Rajhi’s Background

Bilal’s conclusions

Note

Chapter 12: Case 3 - Bank Muamalat¹

Zabeda’s Report

The Beginning of Bank Muamalat

Putting IT to work

The Competive Environment

Zabeda’s supervisor’s comments

Notes

Chapter 13: Case 4 - Bank Rakyat¹

The strategic challenge

The cooperative movement

Bank Rakyat

Notes

Chapter 14: Case 5 - MUSLEH (Part 1)¹

The Dilemma

MUSLEH

Setting a new direction for the group

Notes

Chapter 15: Case 6 - MUSLEH (Part 2)¹

Introduction

Changes in the Middle East

The debate

A trip to Kuwait City

What to do next?

Note

Chapter 16: Case 7 - Fuji Xerox¹

The Phone Call

An Overview of Fuji Xerox

Fuji’s Emphasis on CSR and Sustainability

A SWOT Analysis of Fuji Strategy

An Analysis of Fuji’s Financial Results

Conclusion

Notes

Chapter 17: Case 8 - McDonald’s Pakistan¹

The Dilemma

The Company Profile

The Personality of Mr. Raza Ali

The Personality of Mr. Rashid Ibrahim

McCafe

McDonald’s Target Market

The Main Competitor: Gloria Jean’s Coffees

Back to the dilemma

Notes

Chapter 18: Case 9 - Unilever Bangladesh¹

The Appointment

Bangladesh

The Organization’s Structure

Financial Management

Marketing Management

Operations management

Human Resource Management

Epilogue

Notes

Appendix A: A Primer on Evolution

Many Muslims understand the Western world

Why do Muslims believe in God?

Theory building vs. theory testing

The work of Michael Denton

The work of Michael Behe

The critical question

Notes