Entrepreneurial Ethics – Evidence From Gcc

Abstract

The globalization had a major impact in relocation of the investments across the world. GCC, due to many factors, represent an attractive business environment. Entrepreneurial ethics in GCC is a topic which is almost not covered in specialized literature. This study used purposive sample and aims to analyze the entrepreneurial perspectives from Islamic ethics point of view for three the most representative countries is GCC: UAE, Qatar and Oman. The research methods used in this analysis are indepth interviews and open-ended surveys along with literature review. Ethical standards seems to vary from country to contry (in this case, UAE, Qatar and Oman). From our research, it is clear that ethical standards play an integral role in the success of businesses. Entrepreneurs face various challenges in their quest to establish business. In nations that have adopted the Shari' a law, there are basic requirements that the business are required to adhere to so as not to violate the Islamic business standards. One factor that features prominently among the employees is the focus on labor laws. The business owners are required to focus on ways of ensuring that their employees are well remunerated. In terms of the entrepreneurs, the major problem relates to adherence to the regulatory and administrative issues across all three nations under consideration.