Title: An Islamic perspective on entrepreneurial opportunity recognition

Authors: Farhana Sidek; Kathryn Pavlovich; Jenny Gibb

Addresses: School of Management, Faculty of Economics and Management, Universiti Kebangsaan Malaysia, 43600 UKM Bangi, Malaysia ' University of Waikato Management School, Private Bag 3105, Hamilton, New Zealand ' University of Waikato Management School, Private Bag 3105, Hamilton, New Zealand

Abstract: The rapid growth in entrepreneurial development in Malaysia, together with the strength of Islamic principles adopted by Muslims, provides us with a somewhat unique context to investigate: How do Islamic principles shape the sourcing of entrepreneurial opportunities? To explore this question, we conducted semi-structured interviews with 15 Muslim entrepreneurs located in Kuala Lumpur. Our study highlighted Shariah compliance and the realisation of Tawhid as important factors influencing Muslim entrepreneurial opportunity recognition. More specifically we identified five Islamic spiritual principles that drove the opportunity discovery and opportunity creation processes through missing products or services in the marketplace and dissatisfaction with the current situation, respectively.

Keywords: entrepreneurship; Islam; opportunity recognition; qualitative research; spirituality; entrepreneurial opportunities; Malaysia; Islamic principles; Muslims entrepreneurs; Shariah compliance; Tawhid; opportunity discovery; opportunity creation.

DOI: 10.1504/IJESB.2015.070215

International Journal of Entrepreneurship and Small Business, 2015 Vol.25 No.4, pp.395 - 413

Received: 14 Aug 2014
Accepted: 13 Nov 2014
Published online: 29 Jun 2015 *

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