Business
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Application of Maqashid Sharia in the Green Economy
With growing global awareness of the need to protect the environment and reduce the adverse effects of economic activities on nature, the concept of a green economy has emerged as a way toward sustainable development. According to the United Nations Environment Programme (UNEP), the green economy is an economic approach that aims to enhance social welfare while reducing environmental risks…
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Bombas Socks: How to Build a Billion-Dollar Business from Selling Socks
Who would have thought that socks, one of the most basic everyday products, could form the foundation of a billion-dollar company? Bombas Socks is proof that a simple product, when combined with innovation, superior quality, and a strong social mission, can achieve tremendous financial success. By integrating commercial success with social impact, Bombas has shown that doing good isn’t just…
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Supporting MSMEs as a Foundation of the People’s Economy
Micro, Small, and Medium Enterprises (MSMEs) are widely recognized as a crucial foundation of Indonesia’s economy. In a country with a vast and diverse population, Indonesia relies heavily on this sector to drive inclusive and sustainable economic growth. MSMEs play a significant role in creating jobs, increasing household income, and expanding the economic base, previously dominated by larger industries. Beyond…
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9 Key Principles of Islamic Marketing
Islamic marketing aims to provide balanced satisfaction for consumers and other stakeholders. It’s not just about material satisfaction but also spiritual fulfillment, with the ultimate goal of seeking the pleasure of Allah ﷻ. In practice, Islamic marketing is rooted in strong moral values, where all activities focus not just on financial gain but also on blessings from Allah ﷻ. There…
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Important Muslim Business Ethics Part 1: Amanah
In Islam, business ethics serve as a fundamental guideline that every Muslim must adhere to. One of the most essential principles in conducting business according to Islamic teachings is amanah, or trustworthiness. Amanah refers to honesty, transparency, and trustworthiness in all transactions. In this article, we will discuss how amanah is an integral part of Islamic business ethics. 1. The…
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The Secret of Etiquette/Adab in Speech for Muslim Business Success!
What is Adab? Adab is an Arabic term that encompasses a broad range of meanings related to etiquette, manners, and moral conduct. In the context of Islamic teachings, adab can be understood as follows: Manners and Etiquette: Adab refers to the proper behavior, conduct, and manners that a Muslim should exhibit in various situations, whether in social interactions, religious practices,…
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Cost of Goods Sold (COGS): Important to Know Your Product Costs
Cost of Goods Sold (COGS) is a common term in accounting, especially in financial statements for businesses. COGS refers to the total cost incurred to produce goods or services sold by a company during a specific period. These costs include various elements directly contributing to the production of those goods or services. In this article, we will discuss the definition…
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OPEX and CAPEX: Two Distinct Costs in Business
In running a business, it is crucial to understand two major types of expenditures commonly found in financial reports: Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). These two types of costs have distinct characteristics, functions, and accounting treatments, each impacting a company’s financial and strategic decisions differently. What is CAPEX? CAPEX, or Capital Expenditure, refers to expenses incurred by a…
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Halal JasTip: A Shariah Guide
Personal shopper services, known as “jastip,” have become a convenient solution for people looking to purchase items from distant locations without having to travel themselves. However, it is essential to understand the terms and conditions, or contracts, involved in this business to ensure that transactions align with Islamic principles. This article will discuss how contracts in jastip work according to…
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EBITDA: How to Understand Operational Profit
EBITDA is one of the essential financial indicators used to assess a company’s performance. This term is frequently used by financial analysts, investors, and management to understand how efficiently a company generates profits from its core operations. This article will discuss what EBITDA is, how to calculate it, why it is important, and some criticisms of its use. What is…
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