Islamization and Standardization of Knowledge with Special References to the Courses of the Faculty of Business Administration

Dr. Md Golam Mohiuddin Associate Professor Dept of Management Islamic University, Kushtia Bangladesh

Afroza Bulbul Assistant Professor Department of Business Administration International Islamic university Chittagong Bangladesh

Bismillahhir Rahmanir Rahim

Islamization and Standardization of Knowledge with Special References to the Courses of the Faculty of Business Administration

1. Introduction
From the dawn of Quranic revelation to Prophet Muhammad (SAAS), the Ummah managed to strike at the root of many strongholds of disbelief (kufr) and to carry the message of Islam to far-flung regions of the earth, until it became the leading nation and the most balanced Ummah on earth. Later on, the Ummah has lost its glorious heritage. In modern times, the Ummah has suffered from numerous crises that adversely affected nearly all aspects of its life. Now they are trying to recover their lost honor. To do this, at first they will have to intellectually develop the manpower. Education system is one of the most important mechanisms through which they can spread the Islamic thought among the Ummah. There are immense of disciplines of knowledge taught in the educational institutions throughout the world. There is no branch of knowledge in the world which can be separated from the main stream of revealed knowledge. Not a single piece of research can be found which deny its association with divine knowledge and this divine knowledge came to a complete shape through Muhammad (SAW). Some of the Muslim scholars have taken initiative to incorporate the Islamic principles into the traditional branches of knowledge. Islamization of knowledge is the demand of hours that can help to develop our students to meet the needs and face the challenges of time.

2. Objectives of the Paper

This is the time of globalization. So, every person or institution should be compliant with global standard. The main objective of the paper is to standardize business education in Islamic perspective of the Faculty of Business Administration . In order to achieve the main goal the following objectives are determined: 1. To analyze Islamization of knowledge with special references to Business Education; 2. To acquire knowledge regarding global business education; 3. To find out gap between global business education and business education of the Faculty of Business Administration; 4. To suggest recommendations for standardizing business education of the universities of Muslim countries; 5. Show the detail reference sheets on the same.

3. Islamic Epistemological Critique of Basic Concepts and Paradigms

Allah is the only source of knowledge. Man cannot know any part of His knowledge except that which He wants man to know. The last divine book, Al-Quran, and the earlier books that He sent are full of different types of knowledge, to satiate the needs of human beings. A lot of glorious histories of Islam are available; however, knowledge-

based information is very thin on the ground, and they dont have any literature of the managerial systems of early successful leaders and businessmen who were Muslim in practice. However, the few pieces of literature we do have and the basic sources of knowledge, al-Quran and the Sunnah, are not being studied properly and their lessons are not being practiced. To build up Islamic awareness among practitioners and to spread the knowledge of Islam regarding all disciplines and areas, we must try our level best from each and every sector.

4. Meaning of Islamization of Knowledge

Knowledge is truth. It is the lost wealth of Muslim Ummah. All of the branches of knowledge are westernize and the Muslim world is learning and teaching from the western and non-Muslim books, achievements, world-view, problems and ideals. Muslim academicians must integrate the new knowledge (traditional) into the corpus of the Islamic legacy by eliminating, amending, reinterpreting, and adapting its components as the world-view of Islam and its values dictate. Now the question, what is meant by Islamization of Knowledge? To rid the general aspects of knowledge, which are associated with our practical life, from disbelief, doubt and pessimism and to restructure them through analysis and explanations in the light of the sayings of Allah (SWT) and Hazrat Muhammad (SAW) is Islamization of Knowledge. In concrete terms, Islamization of Knowledge means to Islamize the disciplines or, better, to produce university-level textbooks recasting some disciplines in accordance with Islamic visions.

5. The Meaning of Standard and Standardization of Knowledge

The word standard, which literally means an instrument used to measure things. It also means is equal to as what is normal (Oxford Advanced Learner's Dictionary). An accurate instrument gives full measure, which is used as a standard. The quintal (i.e., hundredweight) [for instance] is a standard (Elgari: 2008:2). As for Shariah standards, they are prescriptions for the conditions of validity, from the point of view of the Shariah, regarding financial products and services, in terms of their structure, procedures and steps of implementation. Lexicon meaning of standardization is to make (sth) conform to a fixed standard, shape, quality, type etc (Oxford Advanced Learner's Dictionary). Standardization is defined as best technical application consensual wisdom inclusive of processes for selection in making appropriate choices for ratification coupled with consistent decisions for maintaining obtained standards (http://www.answers.com/topic/ standardization). The purpose of standardization is to compare things or people with a known standard. Regarding education, standardization ensures consistency, adaptability and comparability of knowledge in terms of its quality and content and ensures objective measurement and positive evaluation of knowledge. Some standards are mandatory while others are voluntary. Voluntary standards are available if one chooses to use them. Some are de facto standards, meaning a norm or requirement which has an informal but dominant status. Some standards are de jure, meaning formal legal requirements. Formal standards organizations, such as the International Organization for Standardization (ISO) or the American National Standards Institute, are independent of the manufacturers of the goods for which they publish standards. De facto standards mean they are followed by informal convention or

dominant usage. De jure standards are part of legally binding contracts, laws or regulations. Standardization means different things for different subjects or matters, which are given below: 1. In statistics, standardization refers to conversion to standard scores. 2. In test theory, standardization refers to measurements or assessments conducted under exact, specified, and repeatable conditions. 3. In supply chain management, standardization refers to approaches for increasing commonality of part, process, product or procurement. Such change will enable delayed making of manufacturing or procurement decisions, thus reducing variability found in having many non-standard components. 4. From a New institutional economics point of view, standardization process starts with a social problem known as "coordination dilemma". Standards, as "voluntary norms", serve to facilitate the resolution of coordination dilemmas and realize mutual gains; then standard refer also to a kind of social dilemma solution (Ibid). Standardization of business knowledge is a relatively new discipline compared to other disciplines. In other disciplines such as physics, chemistry, biology, statistics etc. there are well-developed theories on standardization and adaptation. This means that forces for standardization and adaptation were well developed in these disciplines. Forces for standardization include global strategy, adaptation with global village, organizational structure, organizational or regional culture, creative chaos, standardized approach towards international business, pressure for cost reduction, risk reduction, personnel of the organization, new knowledge management, differences in national culture etc. Forces for adaptation include transnational or multi-domestic strategy, decentralized organization structure, adapted approach towards international business and differences in national culture. Differences in national culture have different effects on the knowledge creation process and the knowledge transfer process. Differences in national culture have the greatest effect on the knowledge creation process, i.e., sharing tacit knowledge and its implementation (Ibid). It is evident that business world is so much advanced now. Business world has become like a village. Centralized thinking is not acceptable today. Now standardization or adaptation with other persons or thinking is a vital issue in business knowledge. Business strategies are being set out on the basis of area, culture, religion, cast, climate etc.

6. Educational Institutions and Islamization of Knowledge

Before Muslims went into decline and slumber, they had developed the disciplines and had established and clarified the relevance of Islam and its comprehensive world view and values to each discipline. They successfully integrated the disciplines into the main corpus of Islamic knowledge. They contributed greatly in all fields and they utilized the new knowledge efficiently to their advantage. Today, non-Muslims are the undisputed masters of all the disciplines. Muslims youth are being westernized by Muslim teachers in Muslim universities by following the non-Muslim books, articles and findings. Dual education system is one of the main problems of the Muslim Ummah. This education system can be attributed to the materialistic rule of the west and its civilization. And this education system is the root cause of the downfall of the Muslims. The branches of knowledge like modern science, philosophy, history, literature, business administration

etc have been influenced by disbelief, skepticism and pessimism instead of faith in Allah, Tawhid and accountability in the afterworld. It is most regrettable that the Muslim world is still devoid of a center where thinking and planning on such high level takes place. We need a university that acts as headquarters for Islamic thought, where the disciplines undergo Islamization and the process is tested in the classrooms and seminar rooms of the undergraduate and graduate programs of study. Until the International Institute of Islamic Thought (IIIT) was established, not one educational institution in the Muslim world had planned to tackle the issue of the Islamization of knowledge, to produce Islamic textbooks for college use in the disciplines or to provide the tools of research necessary for writing those textbooks. And, yet, everywhere in the Muslim world, one hears of the need to Islamize education, its men, and its institutions and to prepare alternate curricula and textbooks. In Bangladesh, Bangladesh Institute of Islamic Thought (BIIT) has taken such type of initiative to prepare alternative curricula and necessary textbooks. Before it Department of Management, Islamic University, Kushtia (public university) and Department of Business Administration, International Islamic University Chittagong (IIUC) (private university) started to reform their course curricula with Islamic flavor, but the arena is very limited.

7. Faculty of Business Administration and Islamization of Knowledge

There is ample scope to analyze and explain the courses of the Faculty of Business Administration from an Islamic perspective. 1500 years ago Arab Peninsula was famous for business. Mekkah was the central place of business activities. So Prophet Muhammad (saw) was born in a business environment and the holy Quran was reveled in a business society. We know Hazrat Muhammad (SAW) showed his efficiency as a businessman by administering the large business of his first wife Khadiza (RA.). and the Prophet's wellreputed disciples were also involved in Business. As a result, we find various directives regarding trade and business administering in the Holy Quran and Hadith. Besides this, in the beginning many Muslims involved themselves in business in various countries to help to spread the message of Islam. The distinct characteristics of their business would draw the attention of common people. Thus from the time of the Prophet (SAW), and later through his disciples and later through the business activities of Muslims in different times, the attitude of Islam to business has been manifested to us. Follow these example we can take initiative to restructure the courses under Faculty of Business Administration through analysis and explanation in the light of the Holy Quran and Hadith. More than forty courses are being taught under the Faculty of Business Administration in different universities through out the world. If it is possible to reform the course curricula with Islamic flavor and to prepare the required textbooks, it will help us to recover our lost heritage because we know from Hadith that 90% of the total earnings of people come from business.

8. Business Administration and the Prophet (SAW)

An incident is described below regarding the Prophets (SAW) involvement in business for the information of those related with Business Administration. Before the Prophetship his uncle Abu Taleb once said "Dear nephew; would you like a job to meet your daily needs"? The young Mohammad (SAW) accepted this proposal and his uncle took him to the then rich businesswoman Khadizatul Kubra (RA).

In response to the seeking of job mother Khadizatul Kubra (R.A.) told Abu Talb, "You are from a noble family, are your nephew literate?" Abu Taleb said, "He cannot read". "Would he like the job of a shepherd?" The uncle said, "Let me ask him". Mother Khadizatul Kubra said, " You have kept your nephew waiting outside, please bring him in and let me look " Once she described, " when I saw my husband for the first time in life, I found him standing under the sky and a patch of cloud was shedding him. As a candidate Mohammad (SAW) did not face any problem regarding Job with honor in the business of wise and rich Khadizatul Kubra (R.A.). Very soon he became the manager of the business of mother Khadizatul Kubra due to his honesty, efficiency, personality, unique character and intelligence. We find him here as a Business Administrator. Then he left for business in different countries. He earned from in business and appeared as a successful business. If Mohammed (SAW) did not have the knowledge of business administration how could he perform his duty as a successful manager? Later in the history we find evidence that his success in the business helped him a lot to establish a base of reformation in society through prophetic mission. So, to render labor and knowledge in Business Administration is the Sunnah of Prophet (SAW) and a great prayer. Prophet Muhammad (SAW) said-A truthful businessman will be in the Day of judgment with prophet, martyrs and good doers. Let us enlighten the Faculty of Business Administration with the teachings of Mohammad (SAW) through our mutual efforts and achieve the welfare of this world and hereafter. 9. Education of the Faculty of Business Administration It is known to all that in the Business Faculty more or less the same courses are taught. Total courses taught in 5 years of undergraduate and graduate levels are 48. The basic subjects are relating to Accounting, Management, Finance, Economics and Marketing which are as follows: Financial Accounting (Fundamental, Intermediate and advanced) Corporate Financial Reporting Public and Social Accounting Accounting Theory/Thought Financial Analysis and Controls Management Accounting (Basic and strategic) Cost Accounting (Fundamental and advanced) Auditing (Fundamental and Advanced) Taxation (principles and practices) Business and Industrial Law Company Law Business Ethics Business Communication. Business English Management (Fundamental and strategic) HRM Organizational Behavior Production and Operation Management Project Management MIS

Finance (principles, management and Public) Banking (principles and Management) Foreign Exchange Policy and Control Insurance Economics (micro, macro and development) Economics for Financial Markets Marketing (Fundamental and management) Mathematics for Decision Making Statistics for Business Decision Legal Environment of Business Quantitative Techniques for Decision Making Research Methodology Introduction to Computer International Business Entrepreneurship & SME Management Strategic Financial Management

10. Global Business Education

The paper presenters searched syllabus of the Universities in the world. It is found that the business education especially BBA, MBA and EMBA consist all sorts of knowledge like accounting, management, economics, finance, sociology, law, science, ethics etc. There exists conventional and Islamic knowledge. The paper presenters visited web site of different universities in USA, Uk, Germany, Philippine, Australia, Malaysia, Pakistan, Saudi Arabia, India etc. The paper presenters find that the courses taught in BBA and MBA abroad except studied in this faculty (followed by all) are as follows: 1. General Psychology; 2. Physical Science (non-lab); 3. Biological Science; 4. Environmental Management; 5. Individual/Dual Sports/Games; 6. General Sociology; 7. International Business (Principles and Management); 8. Logic; 9. Agri-Industrial Marketing & Cooperatives; 10. Government and Constitution; 11. International/Global Management; 12. Management Functions and Behavior; 13. Economic and Social Environment; 14. Management of Machines and Materials; 15. International Finance; 16. Organizational Design, Development and Change; 17. Consumer Behavior; 18. Taxation policy in an Islamic economy; 19. Introduction to Database Management Systems; 20. Services Marketing; 21. Islamic Studies (Compulsory);

22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67.

Bangladesh Studies (Compulsory); Contemporary and Islamic Ethics; Electronic Commerce; Worldwide Accounting Diversity/International Accounting; Islamic Accounting; Islamic Economics; Islamic Management and Leadership; Islamic Insurance; Islamic Banking; Islamic Finance; Contemporary and Islamic Assurance (Auditing); Harmonization of Financial Reporting; Comparative Accounting; Foreign Currency Transactions; International Accounting and Multinational Enterprises; Entrepreneurial Finance (with Management and Marketing); Islamic Business Communication; Islamic Accounting Standards Governing Asset Products Islamic Business Law; Business Ethics in Islam; Islamic Organization Behavior; Islamic Bank Management; Islamic Cost and Management Accounting; Islamic Marketing (Principles and Management); Islamic Management; Islamic Human Resource Management; Islamic Taxation Principles and Practices; Portfolio Management and Investment Analysis; Accounting and Information Systems; Corporate Governance; Compensation Management; Strategic HRM; Contemporary and Islamic Leaderships in 21st Century; E-Business; International Marketing; Social Marketing and Corporate Responsibilities; Contemporary and Islamic Total Quality Management; Security Analysis and Investment Management; International Economics; International Marketing; Industrial Relations and the Labor Laws; International Business Environment; Strategic Human Resource Management; Islamic Portfolio Management; Social Responsibilities for Sustainable Development; International Financial Reporting Standards;

68. Islamic Microfinance Theory, Policy and Practice