A comparative analysis of the UN declaration, global business compact, and religious morals in determining global values for business and their application to Islamic marketing

Abstract

Purpose The continued rise of the multinational and debate as to what constitutes global business values is predicated on the UN Declaration and Global Business Compact. This research suggests both documents explicitly exclude the existence of a foundational ethereal power creating morals thereby nullifying two thirds of the general population’s belief system. The authors argue against humanism as a global value beginning and suggest theism as a better origin and use the scientific method to introduce mathematical axioms supporting theism and complimenting humanism. Ontologically, the theist becomes a stronger base for the scientific inquiry into morals, values and business ethics. A comparison of major religious morals revealed eight factors: assurance; candor, fairness and honesty; character, integrity, truthfulness and exacting in truth; charity and compassion; environment; perseverance and tolerance; sacrifice; and seriousness. The research suggests that the UN documents do not adequately reflect these morals suggesting a change for businesses especially in Islamic regions. Design/methodology/approach A comprehensive review of religious materials emphasizing morals rather than customs, eternal entity description or negative behaviors yielded 1,243 morals and associated synonyms via six religions (Buddhism, Confucianism, Christianity, Hinduism, Islam and Judaism) representing 4.5 billion people. All positive morals were cross-referenced and only common items across all six religions were included. With the 29 common morals, the authors completed a word meaning search and did a second comparison that yielded 8 moral factors or constructs. Findings Eight moral factors were found to be common in all major religions (assurance, fairness/honesty, character/integrity, charity/compassion, environment, tolerance, sacrifice and seriousness). By using the scientific method (Axioms), the authors argue that theism is a better beginning to researching morals and values within business and marketing. Social implications Multinationals should be made aware of the disconnect between the underlying problems of the Global Business Compacts’ values and the global morals identified. The results suggest adopting a codification system based on the pertinent morals as related to economic theories: capitalism, socialism and theism. The use of theism as a base to business and marketing ethics includes billions of customers and employees and their belief systems that should increase the validity and reliability of actions associated with corporate social responsibility, the environment and best practices. Originality/value The UN Declaration and subsequent Global Business Compact are argued to be flawed by its exclusion of religious morals and the historical period in which it was created. By using the scientific method and creating two axioms, the base to all business and marketing ethics must shift to the common moral factors identified.

Integrative review of Islamic marketing

“…In other words, Islamic marketing is not only concerned with "meat and money" (Wilson and Liu, 2010) but goes beyond and involves how the meat and money part are conceived of and incorporated in practice of Islamic marketing. Consistent with this, Alom and Haque (2011) cited in El-Bassiouny et al (2017) defined Islamic marketing as an approach (emphasis added) to satisfy Wilson (2012, p. 6), Wilson and Liu (2010), Alom andHaque (2011), El-Bassiouny et al (2017), Alserhan (2015), Ahmad (2018), Hassan et al (2008), Ghazali and Mutum (2016), Saeed et al (2001), Hossain et al (2018), Izberk-Bilgin andNakata (2016), Rahim (2016), Tournois and Aoun (2012), Temporal (2011), Abu-Daabes (2018), Shamsudin and Abd Rahman (2014), Kadirov (2014), Abdullah and Ahmad (2010), Zakaria and Abdul-Talib (2010), Tournois and Aoun (2012), Fraedrich et al(2018), Adnan (2013), Abu-Daabes (2018), Wilson and Grant (2013), Al-Nashmi and Almamary (2017), Sula and Kartajaya (2006) and Arham (2010) Macromarketing perspective Abdullah and Ahmad (2010), El-Bassiouny et al (2017), Ghazali and Mutum (2016), Kadirov (2014), Alserhan (2010b), El-Bassiouny (2014), Abu-Daabes (2018), Hussnain (2011), Ghazali and Mutum (2016), Marinova et al (2008) Islamic marketing mix Maxim (2009), Arham (2010…”

Islamic marketing: A literature review and research agenda

“…International marketing strategies and practices from an Islamic perspective are discussed by many researchers (Fraedrich et al., 2018; Halkias, 2013; Izberk‐Bilgin & Nakata, 2016; Kabiraj et al., 2014; Kizgin, 2016; Saeed et al., 2001; Turnbull et al., 2016). Among them, Saeed et al.…”

“…(2001) and Fraedrich et al. (2018) emphasized the Islamic ethical aspects of international marketing to develop an ethical framework for multinational companies (MNCs). Turnbull et al.…”

“…Fraedrich et al. (2018) identified that eight moral factors of ethical conducts were common to all of those major six religions: assurance, fairness/honesty, charity/compassion, environment, tolerance, character/integrity, sacrifice and seriousness. The discussions of IM ethics covers almost all areas of marketing; from marketing mix, marketing communications, branding, consumer behaviour, retailing to international marketing (Abbas et al., 2019; Al‐Nashmi & Almamary, 2017; Arham, 2010; Aziz, 2018; Karami et al., 2014; Saeed et al., 2001; Souiden et al., 2018; Turnbull et al., 2016; Uysal & Okumuş, 2019; Yousaf, 2014).…”

“…International marketing from an Islamic perspective has received very low attention from the researchers; only ethical conducts, challenges, opportunities, marketing communications and trends of international IM were discussed (Abdul‐Talib and Abd‐Razak, 2013; Fraedrich et al., 2018; Halkias, 2013; Kabiraj et al., 2014; Saeed et al., 2001). Prior research overlooks many areas of international marketing, such as international IM strategies, tools, practices, global logistical chain etc.…”