Sustainable Business Development Model in Light of Islamic Values and Principles

The objective of this study is to design a business sustainability model that incorporates Islamic values and ethical principles, with the aim of promoting business growth and development. To achieve the objective, a combination of content analysis and expert consultations was employed. Content analysis was used to identify relevant Islamic and ethical values, dimensions of development, establishment of Islamic businesses, and growth strategies. Expert consultations were conducted to gather insights and validate the findings. The designed business sustainability model encompasses various strategies and values. Strategies identified include time and opportunity recognition, innovation at work, skills and knowledge in business, honesty in dealings, healthy relationships, risk-taking, planning, improving the working environment, control and supervision, meritocracy, training and skill enhancement, and incentive and penalty systems. Islamic and ethical values identified as governing principles include understanding of change, spending in work, remembrance of God in work, reliance on God, being goal-oriented, and having dedication and effort in work. Incorporating Islamic values and ethical principles in business practices can contribute significantly to business sustainability. The designed business sustainability model provides a framework for businesses to integrate these values and strategies into their operations, fostering growth and development while maintaining ethical standards. The findings of this study can guide entrepreneurs and business leaders in creating sustainable and ethically-driven businesses.