Islam and Business Finance

Hello readers, hope you are all good and hope you enjoyed the weekend. Today, I will be writing about the different type of leaders. I hope you will gain a thing or two. A leader is an individual that inspires a group of people to achieve a particular goal. A leader could be autocratic, participative, transactional or transformational. The Autocratic Leader This is a type of leader that makes all the decisions. He/She does not delegate duties to other team members. He/She controls all their actions. This type of leadership could be effective when staff are lowly skilled and they require a lot of supervision in order to be able to achieve a task or the goals of the organisation. A business that requires minimal error could also apply the autocratic style of leadership. The Participative Leader This is a type of leader that takes the contribution of his/her team members into consideration but he/she makes the ultimate decision. In other words, this type of leader encoura

Hello readers, today I will be writing about the right business to invest in. Hope you gain a thing or two from it. Allah must be pleased with any business you want to start meaning it must be good for yourself, it must be good for others and it must be good for the community. In other words, your business should be halal. You should invest in what you pray will be good for you in this life and life after death as your business is going to be a part of your life, thus it should make you happy both in this world and the life after You must also invest in an industry you understand. It could be an industry you have gained working experience from or a degree that focuses on the industry. If you do not understand the industry you  want to invest in then acquire the knowledge that will help you understand the industry. Another factor to consider is the barrier to entry, is the industry easy to enter? Do the major competitors try to kill the  competition? If the barrier to e

Hello readers,  I will be writing about entrepreneurs. An entrepreneur is an individual who starts a business, he or she assumes all the risks associated with the organisation with the hope of getting a reward. An entrepreneur is responsible for making decisions on what product (goods and services) that will be provided to the public for sale. The entrepreneur also provides the capital required for running the business. Entrepreneurs play an important role in a country as they help develop a country by creating products that can be exported to other countries. This will help build the gross domestic product (GDP) of a country. Becoming a succesful entrepreneur requires dedication, entrepreneurs are responsible for the growth of the business they have established. The business is your vision, so you must be commited to it. It will help motivate your team members (employees). The way you treat your business is the way your employees will treat your business.  Procrastination i