Maqasid al-Shari`ah, Maslahah, and Corporate Social Responsibility (2007)*
The doctrine of corporate social responsibility (CSR), which has emerged and developed rapidly as a field of study, is a framework for the role of business in society. It sets standards of behavior to which a company must subscribe in order to impact society in a positive and productive manner whil...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
International Institute of Islamic Thought
2024-02-01
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| Series: | American Journal of Islam and Society |
| Online Access: | https://www.ajis.org/index.php/ajiss/article/view/3417 |
| Summary: | The doctrine of corporate social responsibility (CSR), which has
emerged and developed rapidly as a field of study, is a framework
for the role of business in society. It sets standards of behavior to
which a company must subscribe in order to impact society in
a positive and productive manner while abiding by values that
exclude seeking profit at any cost. Despite the many attempts to
construe CSR initiatives, it remains open to wide criticism for its
inherent problems via-à-vis justification, conceptual clarity, and
possible inconsistency. These problems are more acute when it
comes to implementing and operationalizing CSR on the ground,
especially in a situation that involves trade-offs.
This paper offers an instructive understanding of CSR from
an Islamic perspective. In particular, the implication of maqasid
al-Shari`ah (the Shari`ah’s objectives) and the application
of maslahah (the public good) to CSR are discussed in detail to
shed light on how Islam’s holistic and dynamic perception of CSR
take into consideration reality and ever-changing circumstances.
These principles also provide a better framework that managers
can use when faced with potential conflicts arising from the
diverse expectations and interests of a corporation’s stakeholders.
*This article was first published in the American Journal of Islamic Social Sciences 24, no. 1 (2007):
25-43
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| ISSN: | 2690-3733 2690-3741 |